As seen on the HGTV Special: Lakefront Bargain Hunt, area growth in the North Country has been very prominent.
It may seem obvious, but area growth is so prevalent in real estate and really has a large impact on prices, development, and demand for homes. With the waterfront properties near Lake Ontario and the St. Lawrence River, we have gained some considerable attention. Being featured on an HGTV special is great advertisement to promote area growth. That particular episode was seen by many people who had perhaps never considered the North Country a place where they would want to visit or even live. Now that people have seen what the area has to offer, they will be more enticed to invest in real estate here. With an influx in population, it boosts the economy and local businesses throughout the counties. Alongside these positives, with more people living in an area, the more competitive the real estate market becomes.
Area growth brings great opportunity but can also cause some issues if there demand is too high. As we have seen locally, influxes from Ft. Drum caused the building of more and more homes in the area, but even most of those have reached capacity. More housing developments have been under construction recently, preparing for Ft. Drum’s biggest expansion yet. The 10th Mountain Division is one of the finalists in the national debate of where to place another missile defense base. If this were to happen as many are expecting, it would change the North Country quite a bit. Our economy would continue to grow and more housing would need to be built. The real estate market would explode and cause great shifts in the lifestyle that many of us have grown accustomed to.
With a larger population, other demographics may be altered making the area even more desirable. Realtors are able to flourish in markets such as these when there are more people to serve. This also makes the market that much more competitive for buyers and sellers alike. With this can come an increase in the value of life to everyone in the area. This makes it even more important to have a great realtor and brokerage behind you. Talk with a BridgeView agent today to get started!