Those high NY RE prices mentioned in the article really do not say very much. 300-500K is by no means a shocking sticker price.
From Trulia.com:
New York Summary
Average price per square foot for New York NY was $1,332, an increase of 1.8% compared to the same period last year. The median sales price for homes in New York NY for Feb 12 to Apr 12 was $999,000 based on 961 home sales. Compared to the same period one year ago, the median home sales price decreased 7.1%, or $76,000, and the number of home sales decreased 19.4%. There are currently 15,244 resale and new homes in New York on Trulia, including 1,161 open houses, as well as 308 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in New York NY was $2,026,649 for the week ending May 02, which represents an increase of 1.9%, or $38,723, compared to the prior week. Popular neighborhoods in New York include Upper East Side and Upper West Side, with average listing prices of $2,711,589 and $2,011,708.
trulia.com
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