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A lot of people are getting out of the city because of the coronavirus pandemic, and many are looking to move elsewhere for a better life, according to data from the real estate market.
While the San Francisco area, which has a higher per capita wealth than the rest of the country, has seen the highest price increases, prices in New Jersey and New York are still going up, said Mark Sperling, president of Sperlings Real Estate, a real estate brokerage.
In San Francisco, the median home price in January is $539,900, while in New England it was $546,000.
In New Jersey, it was up 14 percent, while it was down 3 percent in New Hampshire, according an analysis of Census Bureau data.
The median home sale price in the Bay Area was $6,200 in January, while the median sale price for the entire U.S. was $8,600, according data from NPD Group, which tracks home sales.
The highest price increase in the last few months is a 24 percent increase in price in San Jose, California, which is on the Pacific Coast, and a 25 percent increase on average in San Diego, according NPD.
A month ago, the average price for a single-family home in the city was $731,000, up from $703,000 in January.
The average price in Manhattan was $1,000 more than the median.
San Francisco has been dealing with high-profile health scares and a large number of cases, including more than 3,000 cases of coronaviruses.
New York is seeing a more gradual increase in cases, with more than 2,300 people having been diagnosed with the virus, according the latest count.
In January, New York had 4,091 cases of the virus and 3,531 deaths.
The U.K. saw an increase in coronaviral cases of more than 50 percent to 1,065 and the United States had more than 1,000 coronavirin-related deaths, the World Health Organization reported in February.
Sperler said the higher price hikes have been driven by people who want to live in New Orleans, but are not going to the city.
He said that in recent months, a lot of those people have been moving elsewhere, like Las Vegas and Seattle, which have a lower population density than New York, and the median price of a single family home in those cities is $700,000 lower than in the New York area.
The city has seen a 50 percent increase since the beginning of the pandemic and has seen nearly a 1,200 percent increase from its peak in January 2015, according Sperlin.
For the next two months, he said, the realty market in New Yorkers is expected to be the most expensive in the country.
The real estate industry’s stock is up and prices have risen dramatically in recent weeks, especially in the market for commercial real estate.
Slices of commercial realty that have sold are selling for $1.4 million a pop, he added.
«We are seeing a lot more people moving out of New York because of their health concerns, which we have seen in the previous couple of months,» Sperline said.
Some people have decided to leave the city, but others are staying.
A man who lives in Manhattan has been buying properties in nearby Brooklyn and Queens and is moving into apartments in the West Village.
«It’s been a really good year for us, and we just got the good news,» the man, who asked not to be identified, said.
«I’m not moving out until I get better.
The first few weeks were great, but I had to sell.»
The median price for single-unit housing in New Haven, Connecticut, has risen by 11 percent to $859,800 since January, according census data.
But the median cost of a one-bedroom apartment has increased by 8 percent to an average of $2,972, according Census Bureau statistics.
«In New York and in many other cities, it is becoming more difficult to rent in the middle of nowhere because of all the coronovirus cases,» Smerling said.
Related stories from the Associated Press:San Francisco has seen an uptick in coronivirus cases.
The number of confirmed cases in the U.L.A. area is at an all-time high of 14,935, and there are more than 200 confirmed cases of C. difficile in California, the U