Syracuse Cracks Top 10 List of Up-and-Coming Cities
Syracuse has been named one of 12 up-and-coming housing markets, according to a new study from Zillow.
According to the real estate website, “mid-sized cities like Boise, Syracuse, and Portland, Maine are now leading the country as the top markets poised for growth, replacing expensive coastal metros such as San Francisco and Seattle that have led the way in the past.”
Straight from the study on the Zillow site: "Syracuse offers a great quality of life at a reasonable cost," said R.J. Long, managing partner at Coldwell Banker Prime Properties in New York state. "It's got gorgeous hills and terrain, and proximity to the water with the Great Lakes and the Finger Lakes nearby. It offers beautiful homes, good jobs and it's accessible from anywhere in the state."
As a result, Syracuse placed 9th out of 12 up-and-coming mid-sized cities. Home values in the Salt City rose 6.8% from last year, and Zillow thinks an additional 4% increase is possible within the next year.
Zillow used the following metrics in its analysis:
- Home value growth year over year
- Forecasted home value growth
- Days on market
- Share of homes sold above list price
- Month-over-month sale counts
Mid-size cities are those whose populations rank between 75-125 of all U.S. metros. Here's the whole Top 12 list of the hottest real estate markets to watch, as featured by NYup.com:
1. Boise, Idaho
2. Huntsville, Alabama
3. Ogden, Utah
4. Spokane, Washington
5. York, Pennsylvania
6. Colorado Springs, Colorado
7. Lancaster, Pennsylvania
8. Modesto, California
9. Syracuse, New York
10. Visalia, California
11. Portland, Maine
12. Lansing, Michigan