Rising real-estate prices in New York City have begun to trickle down to the surrounding suburbs, putting the squeeze on would-be commuters in Westchester and Rockland counties, according to The New York Times.
For now, the market is a seller's one, as Westchester properties are going for anywhere between 20 and 40 percent above the original asking price according to appraisal firm Miller Samuel, the Times said.
In comparison, other counties' properties are ranging in prices two to 13 percent above the original selling price, reported the New York Times
Reasons for the rise include families being priced out of homes in New York and a low inventory of available homes, the Times noted.
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