Preliminary single family home sale numbers for Albany County indicate 145 homes closed in November up 2 from last month with an average sale price of $230,000 and a median sale price of $210,000. Average time on the market slowed to 85 days from 73 the previous month and the sale to list price ratio declined from 96.6% in October to 95.5% in November.
Year to date, single family closed home sales in Albany County are running about 100 fewer that last year to date with 1719 so far this year compared to 1814 this time last year. The year to date average sales price is up slightly to $228,000 from $227,000. but the median is down slightly to $196,000 from $200,000. The average days on the market is up from 72 to 79 and the sale to list price ratio is virtually unchanged at 96.5%.
The months supply of inventory stands at 12 months with 1493 active listings as of December 1 and 126 pending sales written in November. 30 year fixed rate mortgage interest rates remain in the 4% range.