Hear it from the natives: New York real estate like never heard before from a born-and-bred New Yorker who is also a real estate professional!

You can search for facts and figures all you want, and you can even do a site visit or two or three – but unless you’re a real New Yorker, you don’t know jack about New York property markets. And a “real New Yorker” isn’t someone who merely resides in the Big Apple, or was born there, or has lived there many, many years. Many are the citizen who doesn’t have a clue about his country or his town. No, a real New Yorker is someone through and through New York: born in the state, but widely traveled throughout that state, with an appreciation for its history, politics, and peoples.

This kind of a person can tell you what you need to know when buying or selling real estate in the Empire State. And so without any further ado, this article will survey common themes by touching on various New York locations so that you get a sense of what’s going on in the state.

New York’s median per capita income is almost twenty-three and a half thousand dollars. The median value of owner-occupied housing units is well over a hundred and forty-eight thousand dollars, almost thirty thousand dollars more than the national average. Average sales prices for homes in the Empire State have generally been between two hundred and three hundred thousand dollars for four bedroom units, the most expensive category of housing. It can be surmised that New York’s residential real estate market is fairly stable on the whole. The recent economic woes afflicting the nation have certainly made an impact, but residential realty statewide seems to have weathered it fairly well, all things considered.

Residential real estate in Montauk, New York can command some surprising prices for a faraway community on the easternmost tip of Long Island. Some of the nation’s most expensive real estate can be found in New Rochelle, with the northern end of the city ranked among the five hundred most affluent zip codes anywhere in America by Forbes Magazine. Staten Island averages for the beginning of February 2010 were posted at well over four hundred and fifty-five thousand dollars, with the most desirable neighborhoods in the borough such as Tottenville listing figures at six hundred seventy-three thousand and eight hundred and eight dollars. Then there’s Poughkeepsie, New York, representative of the non-NYC-metro area communities throughout the rest of the state, which has suffered economic setbacks for the past twenty-plus years – with obvious implications for local realty, both residential and commercial.

Now even with all that said, however, we must end on this note, that of the legal disclaimer: Neither the author nor the publisher shall be deemed liable for the contents of this article, which constitute mere opinion only and should never in any way be misconstrued as professional advice of any kind whatsoever! Always consult the relevant professionals, properly licensed and/or otherwise qualified, when making business decisions of any financial consequence.

Author Bio: Barbra I. Miller writes frequently on real estate topics for various online publications. Please visit RealEstateInvestorRoadTrip.com for more great articles from industry insiders such as Isaac Toussie and others!

Category: Real Estate
Keywords: real estate, new york, nyc, news, property, property markets, realty, advice