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Since “work from home” became the norm in the age of COVID, a fair amount of New Yorkers have left the city. Although they might be enjoying the extra space the suburbs offer, they recognize that offices will eventually reopen and things will slowly return back to normal.  

With the urban exodus from NYC since March—which Zillow has suggested is exaggerated—we’re expecting to see some of those New Yorkers who fled the city to return in search of a smaller place to use as a second home, especially now in this buyer’s market with interest rates at an all-time low. Pieds-à-terre have always been a popular option among bi-coastal and international residents over the years, but we may soon begin to see that market segment grow among this new group of potential buyers.  

As this recent Mansion Global article points out, migrating to the suburbs has always been something New Yorkers have done after a few years of living in the city. However, many who have left and sold their apartments, usually return after a year or so because “they say they can’t take it and they want to come back.” We’ve also learned about empty nesters in the suburbs who have profited nicely from the sale of their homes and are looking to downsize in search of a pied-à-terre, taking advantage of the current market to fulfill their dreams of living in the big city.  

I recognize everyone’s circumstances are different and with so much uncertainty at the moment, there may be some people seeking guidance in weighing the best options for their unique needs. I encourage you to reach out to me with any and all questions. I am always here to help and I have access to a great team of resources to support all your needs.  

Be well,
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Serjik ( Serj ) Markarian
Lic. Assoc. R.E. Broker
212.796.6110
smarkarian@bhsusa.com
My business is proudly built on referrals. Who do you know that I can help find their perfect home?
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