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Albany County Real Estate Market Update: September, 2013

by Fraida Varah

Preliminary home sale numbers for single family homes in Albany County for August show 251 units sold and closed compared to 267 last month. The average sale price was up to $254,000 from $246,000 last month and the median was up to $217,000 from $213,000 last month.

Year to date numbers show 1533 single family homes sold and closed compared to 1392 this time last year. The average sales price was $239,000 this year to date compared to $230,000 last year to date. The median sales price was $205,000 so far this year compared to $200,000 last year. Average days on market fell to 66 this year compared to 75 last year and the average sale to list price ration was 97.8% this year compared to 97% last year.

30 year fixed mortgage rates for the best credit worth customers are presently in the 4.5% range.

Albany County Real Estate Market Update: April, 2013

by Fraida Varah

Preliminary single family home sale numbers in Albany County indicate 145 homes sold and closed in April compared to 153 in March, at an average sale price of $225,800 and a median price of $195,700. Average days on market were 73 and average sale to list price ratio was 97.3%.

Year to date figures show 560 sold homes vs. 548 this time last year. The average sale price during this period is up to $223,000 from $214,000 and the median is up to $195,000 from $187,700. Average days on market has improved from 87 to 79 and the sale to list ratio has stayed virtually the same at 96.9%.

With an active for sale inventory of 1317 homes on May 1, and 220 pending contracts written in April, there is a 6 month supply of inventory which indicates a balanced market..

Home mortgage rates continue at historic lows in the 3.75 to 4.0% range for strong credit rated purchasers for 30 year fixed rate mortgages.

Fraida Varah

 

Albany NY Real Estate Market Update: December, 2012

by Fraida Varah

Preliminary single family home sale numbers for Albany County show 149 homes sold and closed in November compared to 186 last month. The average and median sale prices we up for the month about 6% and 9% respectively and the average days on market was down from 82 last month to 65 this month.

Year to date closed sales are up about 10% from last years' 1745 to 1907 for the first 11 months of this year. The average sale price this year to date to last is virtually unchanged at $227,000. The median sale price is up about 2%, $195,000 last year to $200,000 this year.  Average sale to list price ratios are slightly better this year, 97.1% from last year, 96.4% and average days on the market is slightly improved from 79 days last year to 75 days this year.

With 1322 active single family homes on the market at December 1, and 133 homes sales in November, the months supply of inventory in Albany County stands at 10.

Home mortgage interest rates remain at historic lows for strong credit ratings. 30 year fixed rates remain in the 3.75% range.

Fraida Varah

 

Albany NY Real Estate Market Update: May 2012

by Fraida Varah

Preliminary single family home sale numbers for Albany County indicate there were 154 home sales that closed in April, up from 129 in March. The average selling price was $217,000 (up from $209,000 in March) and the median sale price was $191,000 (down from $192,000 in March). The sale to list price ratio was 94.9% on average (March was 96.3%) and the average days on market declined from 92 in March to 81 in April.

Year to date, we are running a little ahead in closed transactions with 519 so far this year compared to 472 during the first four months of last year. Both the average sale price this year ($215,000) and the median sale price this year ($186,000) are down slightly from last year ($216,000 and $190,000 respectively). Both the average sale to list ratio, 96.3%, and the average days on market, 87, are unchanged from last year.

With 1309 active Albany County single famil listings as of May 1 and 185 pending contracts written in April, the months supply of inventory stands at 7 months. This compares to a 6 month supply of inventory on April 1.

Current 30 year fixed mortgage interest rates continue to be in the 4% range with some rates slightly below 4%.

Fraida Varah

Albany NY Real Estate Market Update: April, 2012

by Fraida Varah

Preliminary single family home sale numbers for March, 2012 show 112 home sales closed at an average sale price of $212,449 (down from $218,024 in February), a median sale price of $199,000 (up from $188,000 in February) with an average sale to list price ratio of 96.2% (compared to 98% last month) and an average of 91 days on the market (down from 93 in February).

For the first quarter of 2012, there were 347 closed home sales compared to 345 during the first quarter of 2011. The average selling price was $214,900 compared to $216,700 last year and the median selling price was $185,000 this year compared to $190,000 last year. Average days on the market are the same at 88 and the average sale to list ratio this year is 96.9% compared to 96.2% last year.

The Albany County single family home market picked up in March with 195 pending sales compared to 155 pending sales in February. With 1229 homes on the market on April 1, there is a 6 month supply of homes compared to an 8 month supply of homes on March 1.

30 year fixed mortgage rates are now in the 4-4.5% range and have moved up slightly over the past few months.

Albany NY Real Estate Market Update: December 2011

by Fraida Varah

Preliminary single family home sale numbers for Albany County are in and show the following.

There were 152 homes that closed in December compared to 157 in November. The average price fell from $227,000 to $221,000 and the median price fell from $203,000 to $182,000. Average days on market for those homes that closed in December were 89 and the sale to list price ratio was 96.3%.

Preliminary year end numbers for 2011 show 1892 homes sold and closed compared to 1962 last year. The average price dropped slightly from $228,000 to $227,000 and the median price dropped from $201,000 to $195,000. Average days on market increased from 73 in 2010 to 80 in 2011 and the sale to list ratio remained about the same at 96.5%.

Single family inventory in Albany County stood at 1281 homes on January 3, 2012 and their were 104 homes that went under contract in December indicating a 12 month supply of homes on the market, up slightly from November when there was an 11 month supply.

30 year fixed mortgage interest rates remain at historic lows in the low to mid 4% range.

Fraida Varah

Displaying blog entries 1-6 of 6