MADISON, CT (WFSB) – There have been a lot of New York license plates being spotted in Connecticut.
Many of those people have been calling CT home since the pandemic.
Housing sales have been unprecedented.
For sale signs have been popping up, pending, and sold over and over again on the shoreline in Madison and elsewhere since the pandemic began in March.
New Yorkers who had considered buying for years says the coronavirus pushed them to make the purchases.
“With the trains and everything else, I think people are evaluating some of the things that are important to them and you can have both living here,” said Anne Melissa Dowling.
The advantage of moving into Connecticut, according to realtors like Mary Beth Cosgrove, is getting more space.
“I think they figured out, ‘I need more space’ if they’re going to be staying at home, everyone in the same house, working. Interest rates are at a historic low,” Cosgrove said.
It’s a sellers’ market that wasn’t predicted and Madison is the welcome mat.
“I moved from NYC 13 years ago with my husband who actually grew up in Madison. We recognized the benefits of moving to a community like this,” said Peggy Lyons.
“I’m showing property and sometimes before I can even make an appointment for a client, the houses are under agreement with multiple bids and going over asking,” Cosgrove said.
The US Postal Service reportedly indicated between March and June, 10,00 New York residents requested a change of address to Connecticut, compared to 1,200 during the same time period last year.
Just how long will this pandemic fueled real estate rush continue? Real estate agents say they really don’t know, but if anyone is planning to sell, now’s the time to get in.