Four Upstate NY Cities Named the ‘Hottest Housing Markets’ in America

If you're looking to sell your house, Upstate New York is the place to live in 2024.

As highlighted in an article by Forbes Magazine, Upstate is considered to be the "hottest housing market" in America through the first six months of this year.

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If you're buying a house in the area, then you will not agree with that assertion. That said, if you're selling your house in Upstate New York, then the time is right to take the deal.

Take a look at these figures from Zillow's Market Heat Index, which was referenced in the article by Forbes:

Based on this market "temperature" data shared by Zillow, four Upstate New York metros --- Rochester, Syracuse, Buffalo and Albany --- are regarded as the four best seller's markets in America. The list is littered with other cities in the northeast, including Hartford, Springfield, Worcester and Bridgeport.

This is how the data presented above looks geographically:

Forbes shared a few additional musings about Upstate New York in their article:

• The average home value is up 4.3% so far this year (at $230,632) in Syracuse.
• Rochester has seen an 8% spike in sale price for homes, one of the highest spikes seen anywhere in America.
• The cluster of the country’s fastest-appreciating metros in upstate New York is fueled by buyers “drastically” outnumbering listings, Pendleton said.

READ MORE: Gorgeous Upstate NY Region Ranked Among Nation’s Best for Wine-Lovers

Overall, Zillow asserts that the housing market temperature index in America has decreased slightly over the last two months, after rising consistently since November 2023. Additionally, the temperature index is down significantly from February 2022 (87.5) to now (58.1).

What does this all mean? To put it simply, the housing market is slowly moving to a place where it will be easier to buy property.

That said, we still have a long way to go.