Preliminary single family home sale numbers in Albany County for the 12 month period ended December 31, 2012 indicate there were 2123 homes sold (and closed) compared to 1918 last year.
The average selling price was $230,000 compared to $227,000 last year and the median selling price was $202,000 compared to $195,000. The average time on the market declined from 81 days in 2011 to 76 days in 2012. The average sale price to list price ratio improved from 96.4% in 2011 to 97.1% in 2012.
Single family inventory in Albany County started the year at 1173 homes. There were 125 homes that went pending in December so the average supply of inventory is 9 months.
Conventional 30 year fixed mortgage rates for the best credit rated customers are in the low to mid 3% range.