Homes are selling the fastest in these 3 easy upstate New York counties

In upstate New York, homes are flying off the market faster than anywhere else in the country, with three counties in the region landing in the top 10 for the fastest sales in August.

According to the latest data from Redfin, a national real estate brokerage, three New York counties — Wayne, Monroe and Saratoga — landed in the top 10 for the fastest home sales in August, Syracuse.com reported. Wayne County is located along Lake Ontario, and is particularly between the cities of Oswego and Rochester. Monroe County, in turn, is where Rochester stands. And Saratoga, located near Albany, is famous for its luxurious resort town of the same name.

In these counties, homes were on the market for an average of just 9 days before foreclosure, tying them for ninth among nearly 1,000 counties across the United States.

The frenetic pace of sales is not limited to just a few counties.

Albany and Broome counties also posted impressive numbers, ranking in the top 20 nationally, with homes off the market in just 10 days on average.

Onondaga County, which is home to Syracuse, also wasn’t far behind, ranking 66th nationally in homes foreclosed on in 15 days.

While some counties moved faster than others, the common theme across the region is the same: homes are selling faster than they have in years.

This is not your typical housing market. Before the COVID-19 pandemic, it was not uncommon for homes to sit for months before selling, giving buyers plenty of time to browse and make decisions.

But the pandemic changed the landscape.

Now, with a historically low number of homes for sale, buyers are facing stiff competition.

Once a property goes on the market, it is likely to attract multiple offers almost immediately. Some homes don’t even make it to a second open house weekend. Intense competition has sparked bidding wars, driving prices even higher.

Buyers will go all-in to win, often making cash offers and waiving contingencies like home inspections to make their offer more attractive. These aggressive tactics, which were once rare, have now become a regular part of the buying process in upstate New York.

Local experts tell the medium that the lack of available homes is the main driver behind the rapid sales and rising prices. With fewer properties on the market, buyers have no choice but to act quickly and offer more than the asking price if they want to secure a home.

And it’s not just first-time buyers who feel the pressure. Everyone from experienced homeowners to investors are fighting for the same limited pool of homes.