January 2020

New York City may be the largest real estate market in New York, and it is certainly the most expensive. However, there are several other major real estate markets in New York like Syracuse, and they are not subject to the same boom and bust as NYC real estate market. In this blog, our focus will be on the Syracuse real estate market trends and investment outlook for 2020.

Syracuse itself is home to around 150,000 people. That alone makes the Syracuse housing market the fifth largest in the state. However, the Syracuse housing market is much larger than this. More than six hundred thousand people live in the Syracuse metro area. In 2010, Forbes rated Syracuse 4th in “Top 10 Places to Raise a Family.”

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Is Albany, New York a good place to invest in real estate? Depending on the headlines you’re reading, the answer is a definite yes to “definitely stay away.” Albany is the capital of New York state. The city of Albany is home to roughly a hundred thousand people. Albany sits at the center of the Capital District of New York State. While it may be overshadowed by New York City, it is the heart of its own metropolitan area.

Take cities like Schenectady, Troy, and Saratoga Springs into account, and the Albany real estate market is home to more than a million people. This makes the Albany housing market the third largest in the state. There are many variables that can potentially impact the value of a home in Albany (or any other market) and some of these variables are impossible to predict in advance.

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