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New York Real Estate Market

Jan 1, 2008
Bronxville, New York is one area seeing a bit of a difficulty for sellers. This New York real estate market is seeing more buyers and sellers with homes sitting on the market for between sixty to ninety days. There is an increasing market trend with a good inventory. There is no change in the average home price of $1,000,000 over last year. Unfortunately, for sellers, they can expect to receive only eighty to eighty-five percent of their listed asking price and that includes having multiple offers on any given property. First time buyers and job growth in the area is what is currently driving this New York real estate market.

If you are looking for a New York real estate market near Syracuse then Cicero may be a place to check out for good buys. It is a 50/50 market with equal numbers of buyers and sellers. Houses are staying on the market for only a month to two months with a decreasing market trend. The housing inventory is solid in all price ranges with average home prices up nearly five percent over last year's prices. Current average home price is sitting at $150,000 with sellers receiving ninety five to one-hundred percent of their asking price with multiple offers. This New York real estate market is being driven by job growth and consequently move up buyers.

Finally, Clay, New York this real estate market has more buyers than sellers with homes sitting on the market from ninety to one-hundred and twenty days and an increasing market trend. There is a good inventory of homes available and prices are up 0-5% to rest at $125,000 on average. First time buyers and population growth are driving this no multiple offer market with sellers receiving 95-100% of their initial asking price.

This area is one of the best places to buy and Syracuse is ranked number one city to buy in the North East, based on Fortune magazine. All of these markets make an excellent choice when it comes to investing in New York real estate. Most people think of New York and only a single thing crosses their mind. New York City. This state however, is so much more it has a variety real estate from city to rural, big city to small town. Anything and everything you could be looking for large or small can be found in New York.

Interest rates are down to near historic lows but they will not remain here for long. If you are looking to invest now is the time to jump in and get your feet wet when it comes to New York real estate, waiting could see you with higher interest rates and terms that are less negotiable than they are today.

No matter what New York Real estate market you look into when considering investing it is important to know what the market is doing as well as what it has done in the recent past. This will help you to predict if now is the best time to invest in an area or if you can afford to wait.
About the Author
Tom Beaty offers New York Real Estate information for buyers and sellers. Don't buy or sell without visiting this Blog or it could cost you: New York real estate .
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