Have you heard about the exodus from dense urban centers like Manhattan to the suburbs?
There’s been a lot of press covering home buyer demand moving from dense urban areas to more open suburban lifestyles across the country, from San Francisco to New York.
Gary Vee recently posted about how changing work from home trends are going to dramatically impact real estate, now and into the future:
Yes we can contribute this rush to the suburbs as a post-COVID market impact. However, the effect of COVID-19 on the housing market is complex. Much like the ocean, there are trends that appear like a big wave – but there’s also cross-currents and potential undertows.
Okay, you can tell I lived by the ocean for a very long time! I still take my shoes off when I come home 😎🏄🏼♂️
Fleeing Manhattan to the suburbs
One of the big waves that got a lot of press is the huge uptick in demand for suburban living from Manhattan. The NY Times reported in August ‘New Yorkers are fleeing to the suburbs; the demand is insane’ :
“Moving companies have said they cannot keep up with the demand. Metropolis Moving in Brooklyn said the number of quotes for out-of-state moves jumped by more than 200 percent in May and in June.”
Most of the press highlighted an increase in demand for suburban areas close to Manhattan like Northern New Jersey. However, here in the “6th borough” of Philadelphia, we’ve welcomed a lot of New Yorkers as new neighbors on the Main Line and in Center City.
Main Line suburban living
While a large Main Line 6,000+ sf estate home on 3-5 acres sounds ideal after quarantine with multiple generations all working / schooling from home, the reality of remote large estate living isn’t for everyone.
What sounds good at first can settle into a different set of frustrations, such as upkeep and maintenance. Reminds me of my clients on Kauai who visualized a 5 acre home, only to realize in Hawaii 5 acres is like managing a farm! The lifestyle they desired was in reality better met with a home on a 1/2 acre parcel.
Many people moving from dense urban areas crave more space but still long for a cosmopolitan lifestyle that can be comfortable and safe for the entire family.
The Main Line is comprised of townships which started as villages, and they retain quaint character along with rich history. However, in the heart of Center City there’s a village that offers the best of both worlds.
Queen Village – cosmopolitan, historic and friendly
Philadelphia’s first neighborhood and rich in history, today Queen Village simmers with modern energy, making it an ideal neighborhood if you love fashion, food and fun but want a low-key local village lifestyle.
Hear first hand insights from my Queen Village clients who love the charming, safe, friendly, village lifestyle with cosmopolitan amenities:
Two “suburban” features that are the hardest to find in Center City are a large, fenced yard and 2-car garage.
Time will tell if our new friends from New York settle into the large homes on the Main Line for good, or perhaps desire a more cosmopolitan lifestyle and shift towards a different kind of quiet village community with cosmopolitan, funky vibes such as Queen Village.
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