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New York City isn’t the place with a hot real-estate market. Some 350 miles north, and only a two-hour drive to the Canadian border, Rochester is seeing an unprecedented spike in real-estate sales, according to a report by realtor.com, entitled “Affordable Alternatives to Megapricey Cities.”  

“[People] are heading to places where their paychecks go further and they can enjoy more laid-back pace of life,” realtor.com reads.   

With a total population of round 200,000 people, Rochester homes are typically priced under $300,000 and, as the New York Post reports, these homes receive “several” offers just hours after hitting the market.  

“I’ve been doing this for 42 years and I’ve never seen anything like this,” said Tony Ruggeri, a local real estate agent.   Ruggeri had 23 showings in a single day, and these potential buyers were ready to make an immediate offer.   “Make sure you have cash. If you have a home to sell, forget about it. Don’t even bother, and be ready to go,” Ruggeri said.  

Pricing is often a function of inventory availability.  In 2013, 5,446 homes were available on the market. That number dropped significantly, as only 2,429 hit the market in 2019.  

“As costs and prices continue to rise in larger cities across the United States, it can be a breath of fresh air to find affordable real estate markets in good locations,” noted local news station 13 WHAM.   

Apparently, this may be the start of a trend, where buyers are looking for smaller, more affordable communities, as opposed to “work[ing] themselves to death to afford homes in the nation’s biggest cities,” realator.com reads.  

Here’s some pricing ranges for other cities linked in the report, ranked from top to bottom: 

  1. Boise City, ID – Median Home Price: $295,000 

  1. McAllen, TX – Median Home Price: $152,000 

  1. Tucson, AZ – Median Home Price: $230,000 

  1. Chattanooga, TN – Median Home Price: $189,000 

  1. Columbia, SC: Median Home Price: $178,000 

  1. Rochester, NY – Median Home Price: $149,000 

  1. Colorado Springs, CO – Median Home Price: $312,000 

  1. Winston-Salem, NC – Median Home Price: $169,000 

  1. Charleston, SC – Median Home Price: $270,000 

  1. Memphis, TN – Median Home Price: $188,000