The Buffalo Niagara housing market fared well in the second quarter as median-price increases outpaced other Upstate New York metro areas.
The National Association of Realtors said a nationwide trend in firming home prices solidified in the period with more cities showing increases from a year ago. The gains, the trade group said, were aided by a surge in sales driven by the 8,000 home-buyer tax credit which has since expired.


In the second quarter, 100 out of 155 metropolitan statistical areas had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year 91 areas had higher prices, while only 26 metros experienced annual price gains in second quarter of 2009.


The updated report placed median prices in the Buffalo area at $121,400 — still well below the national median of $176,900 — were up 5.2 percent from $115,400 a year ago. The national median increase, year-over-year, was 1.5 percent from $174,200.


Other upstate markets had modest-to-slight median price gains. Rochester was up 1.9 percent to $121,400, matching Buffalo's prices. Syracuse edged up 0.6 percent to $125,300 while Albany’s median prices increased 2.6 percent to $194,300. Binghamton was down 5.9 percent to $110,800.