Metropolitan Statistical Area (MSA):
The Utica-Rome, NY metropolitan statistical area (MSA) is located in the Mohawk Valley region of upstate New York. The MSA includes Oneida, Herkimer, and Otsego counties. The population of the MSA was 642,513 as of 2019.
The real estate market in the Utica-Rome MSA has been strong in recent years. Home prices have been rising steadily, and the number of homes sold has increased every year since 2015. The average sale price of a home in the MSA was $144,000 in 2019, up from $137,000 in 2018.
There are several factors driving the strong real estate market in the Utica-Rome MSA. The local economy is doing well thanks to an increase in manufacturing jobs. Additionally, many people are moving to the area from other parts of New York State and from other states due to its affordable cost of living and its proximity to major cities like Albany and Syracuse.
The future looks bright for the real estate market in the Utica-Rome MSA. Population growth is expected to continue as more people move to the area for work or retirement. Additionally, new development projects are planned that will bring even more jobs and people to the region. These trends should keep home prices rising steadily for years to come, making now a great time to invest in real estate in this part of New York State!
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