Coming to a pandemic near you: Escape From New York.
Of the top 10 markets that have cooled down since last year, four are New York City boroughs – the Bronx, Queens, Brooklyn and Staten Island, according to a new study released Tuesday by Redfin. Manhattan was excluded from the study due to a lack of data.
“People want out of New York City,” local Redfin agent Ken Wile said. “This pandemic has changed everybody’s lives. People who had to commute to the city no longer have to, so they want more space, more value and more nature.”
The rankings are based on year-over-year change in home prices, home sales, the share of homes that sold above their list price, the speed of home sales and Redfin.com searches.
The Bronx ranked number one on the list of U.S. housing markets that are cooling down. It is one of seven other New York markets that are in the bottom 10. Home sales in the Bronx have droppeded 43 percent since last year while the number of Redfin.com users searching in the area dropped 16 percent in the second quarter.
| U.S. County | Median Sale Price, YoY Change | Homes Sold, YoY Change | Median Days on Market | Median Days on Market, YoY Change | Homes Sold Above List Price | Q2 Redfin Users Searching in Area, YoY Change |
| Bronx County, NY | 5.2% | -43.3% | 75 | 10 | 18.3% | -16% |
| San Francisco County, CA | 0.0% | -4.9% | 24 | 5 | 53.0% | -7% |
| Suffolk County, MA | 0.5% | -8.7% | 21 | 5 | 39.3% | -10% |
| Kings County, NY (Brooklyn) | -9.8% | -50.7% | 110 | 6 | 7.7% | 5% |
| Dutchess County, NY | 2.5% | -13.8% | 71 | 22 | 24.4% | -117% |
| Ontario County, NY | -11.9% | -31.2% | 20 | 3 | 40.2% | -125% |
| Rensselaer County, NY | -1.0% | -12.9% | 30 | 3 | 38.0% | -243% |
| Queens County, NY (Queens) | -6.8% | -38.6% | 89 | 23 | 11.7% | 160% |
| Norfolk County, MA | 2.7% | -7.3% | 21 | 5 | 45.7% | -167% |
| Richmond County, NY (Staten Island) | 0.0% | -38.8% | 61 | 16 | 7.9% | -65% |
| National | 8.1% | 9.8% | 35 | -1 | 29.9% | – |
At the other end of the spectrum were El Dorado County, California, and Camden County, New Jersey, in suburban Philadelphia.
“We’re seeing a huge influx of buyers coming to El Dorado County from the Bay Area,” local Redfin agent Ellie Hitchcock. “With so many large tech companies allowing employees to work from home for the foreseeable future, homeowners in San Francisco are selling their two-bedroom, two-bathroom condo and buying a 5,000-square-foot home with five bedrooms and five bathrooms on an acre of land here for the same price. It’s simply a no-brainer.”
| U.S. County | Median Sale Price, YoY Change | Homes Sold, YoY Change | Median Days on Market | Median Days on Market, YoY Change | Homes Sold Above List Price | Q2 Redfin Users Searching in Area, YoY Change |
| El Dorado County, CA | 10.0% | 57.3% | 28 | -7 | 32.2% | 107% |
| Camden County, NJ | 13.2% | 9.5% | 28 | -19 | 37.1% | 512% |
| Columbia County, OR | 13.3% | 17.3% | 18 | -11 | 40.0% | 78% |
| Fairfield County, CT | 16.7% | 34.0% | 70 | 1 | 24.7% | 862% |
| Morgan County, IN | 14.3% | 19.1% | 7 | -11 | 32.8% | 133% |
| Comal County, TX | 9.8% | 44.4% | 55 | -11 | 18.2% | 78% |
| Cowlitz County, WA | 17.9% | 26.6% | 9 | -5 | 52.9% | -3% |
| Fauquier County, VA | 13.1% | 33.3% | 42 | -8 | 29.7% | -11% |
| Gloucester County, NJ | 12.3% | 10.7% | 31 | -17 | 37.2% | 64% |
| Spotsylvania County, VA | 17.8% | 9.1% | 30 | -8 | 36.1% | 15% |
| National | 8.1% | 9.8% | 35 | -1 | 29.9% | – |