Local realtors are calling Upstate New York one of the hottest markets in the country.

A new report says the median price of single family homes in the Binghamton area increased more in the first quarter, than anywhere in the nation.

Action News Reporter Julianne Sweeney tells us how this puts our hes on the national map.

As Realty USA celebrates the grand opening of its new Endwell office, it's celebrating something even bigger.

The National Association of Realtors reports home prices in the Binghamton area jumped 14.8 percent in the past year to 110-grand.

Brokers call this an incredible bargain.

The median home price in New York State is more than 275-thousand dollars.

"We're surrounded by Connecticut, and we're surrounded by Pennsylvania and New Jersey, and downstate, where the average sale prices are double, 3 times what ours are.," said Realty USA VP Thad DeMulder.

Realty USA looks to this increase as a possible boost for business.

With a lagging economy, consumer confidence is down.

It hopes low interest rates and first time buyer tax credits get things kicking.

"The first time buyers will sort of fuel the entire market, and get the real estate market perculating again," said Realty USA CEO Merle Whitehead.

Real estate agents say when a house sells, that's a good thing for the local economy here in the Binghamton area.

"When you buy a house, you buy furniture. When you buy a house, you buy curtains."

Realty USA predicts this market will swing into balance...

An equal amount of people buying and selling.

"We need to take advantage of this time right now," said Realty USA Associate Broker Bernadette Giacobe.

When Binghamton could have a market edge...

Over the rest of the country.