New York real estate is always at a premium. While many prospective home buyers covet real estate in New York City, there is also great interest in other areas, such as upstate and Long Island.

New York Real Estate: New York City

Considered one of the most important world cities, New York City real estate is among the most valued in the world. In addition to being a great cultural center, with world-renowned museums and theaters, New York is one of the most vital cities, with regard to its role in global commerce. At the end of 2007, the average price for single family home or condominium in Manhattan was $439,000.

New York Real Estate: Long Island

Long Island, the New York suburbs that numerous celebrities call home, has a wide variety of real estate options. Prospective owners of Long Island real estate can choose the North Shore, the South Shore, Nassau and Suffolk, and be just a short train ride away from New York City. As Long Island encompasses a great deal of land, median single-family home prices vary widely, from $242,900 for Mastic Beach, to $355,000 for Ronkonkoma. As of 2007, the median price for real estate in Cold Spring Harbor and Manhasset reached over one million dollars.

New York Real Estate: Westchester

Westchester County is home to some of the wealthiest communities in the entire United States. As such, Westchester real estate is highly valuable, with the median price for a single-family home in the neighborhood of $700,000. Like Long Island, Westchester County encompasses a great deal of territory, with six cities and nearly 40 villages and towns. The value of different locations in Westchester County also varies a great deal. Be sure to understand the variance if you are looking for real estate in that county.

New York Real Estate: Buffalo

Buffalo is still in New York, but a significant distance from New York City. Additionally, the character of the city of Buffalo is quite different from Manhattan. Bordering Canada, Buffalo is sunny in the summer and subject to heavy snows in winter. Buffalo has a very diverse population and hosts a variety of industries, including everything from auto part manufacturing to genomic research. Buffalo has two major sports teams, the Buffalo Sabres hockey team and the Buffalo Bills football team. There is also a minor league baseball team, the Buffalo Bisons. In 2007, Buffalo was considered one of the most affordable U.S. cities, with a median single-family home price of $359,352.

Dealing in New York real estate can be expensive, but it can also be quite profitable. Contact a certified New York Realtor with your interests and concerns and let him or her help you find the right New York property for your goals and price range.