CNY Real Estate Update

Town house and condominium prices fell during the second quarter in Central New York, a trend some local Realtors attribute to an oversupply in the suburbs.

The median price of condos and town houses dropped 13.9 percent in the Syracuse metropolitan area, the biggest decline in any of the 60 cities tracked by the National Association of Realtors.

The median price fell to $123,000 in the second quarter, down from $142,900 in the second quarter of 2006, the association reported. The median is the midpoint; half the properties sell for more, half for less.

Read more, from the Post-Standard