Western New York Just Became the Toughest Place to Buy a Home—Here’s What That Means for You
If you’ve been house hunting and feel like homes are disappearing the moment they hit the market, you’re not imagining it. According to a new Redfin report on the most competitive housing markets in 2025, Irondequoit, NY—a lakeside suburb of Rochester—now ranks as the most competitive place to buy a home in the entire country. Homes there are going under contract in about 8.5 days and often selling for well over asking price.
And while Silicon Valley cities like Sunnyvale and Santa Clara remain intense, this headline is notable because it signals something bigger: competition isn’t just a “big coastal city” problem anymore. Buyers and homeowners across Western New York may feel the impact in very real ways—whether you’re trying to buy, sell, or make a smart refinance decision.
Why Irondequoit (and Western New York) Is So Competitive
Redfin’s rankings reflect how fast homes sell, how often they sell above list price, and how many buyers are competing for each home. In Irondequoit, the combination of strong demand and limited inventory creates a market where buyers have to move quickly and come prepared.
Some factors that can fuel this kind of competition include:
- Limited housing supply in desirable neighborhoods (especially near the lake)
- Affordability relative to other regions, drawing interest from both local buyers and out-of-area relocations
- “Move-up” buyers staying put because they don’t want to give up a low rate—reducing the number of homes for sale
- Strong appeal for lifestyle and commute compared to pricier metros
The result: even a home that looks “fairly priced” can turn into a multiple-offer situation in days.
If You’re Buying: Speed and Strategy Matter More Than Ever
In a market where homes sell in a week, the biggest risk isn’t necessarily overpaying—it’s missing out because you weren’t ready. The buyers who succeed in highly competitive areas tend to focus on preparation, clean offers, and clarity on their budget.
Here are practical steps buyers should consider right now:
- Get fully pre-approved (not just pre-qualified) so your offer is taken seriously
- Know your “walk-away number” to avoid emotional bidding that strains your finances
- Be ready to tour quickly—same day if possible
- Strengthen your offer beyond price with flexible timing, clear financing, and solid documentation
- Explore down payment options and programs that may improve affordability
In ultra-competitive towns, sellers often prioritize certainty. A strong financing plan and a lender who can close on time can matter as much as the offer price.
If You’re Selling: This Could Be Your Window
For homeowners considering a move, this kind of market can be an opportunity. When homes sell quickly and demand is high, sellers often benefit from more showings, stronger offers, and better negotiating power. If your home is in a highly sought-after neighborhood, you may be able to:
- Sell faster with fewer days on market
- Command stronger terms, such as flexible closing dates or fewer concessions
- Potentially sell above list price if multiple buyers compete
That said, selling successfully still requires a plan—especially if you also need to buy your next home in the same competitive environment. Timing your sale, understanding bridge options, and building a financing strategy for your next purchase can make the transition smoother.
If You’re Refinancing: Competition Can Influence Your Equity and Options
Even if you’re not moving, a competitive market can affect you. When demand pushes prices upward, homeowners may see faster equity growth (depending on neighborhood and property condition). That can expand your options, including:
- Refinancing (if rates and your situation make sense) to adjust your loan term, payment structure, or remove mortgage insurance
- Cash-out refinancing for renovations, debt consolidation, or major expenses—when appropriate
- Home equity solutions to fund updates that help maintain or increase home value
Refinancing isn’t one-size-fits-all, especially in today’s rate environment. The key is to weigh your current rate, your timeline in the home, your monthly budget goals, and the total long-term cost—not just the headline interest rate.
What to Do Next in a Fast Market
Whether you’re buying, selling, or considering a refinance, this Redfin ranking is a reminder that Western New York is drawing serious attention—and that makes preparation essential. In a market moving this quickly, the right strategy can save you time, money, and stress.
Ready to explore your options? Schedule a free consultation with our team today!