My sister and bro-in-law were looking to buy something near the Jersey shore. A friend of theirs who's a realtor on the shore told them that stuff that sat vacant for years is getting multiple offers now. They're in northern NJ, and the real estate market is insane there too. The same is true in CO. Prices are through the roof, no pun intended. New construction hasn't slowed down either. I have a neighbor who sold for nearly double what he paid 7 years ago. He did some improvements, but not that many. A house I sold in 2012 in a completely different neighborhood in town also nearly doubled since I sold it. That one was a 2 BR, 1BA, detached 1 car garage on about 1/8 acre. It went for nearly $300k. I sold it for $155k.