The new year is off to a relatively fast start with 172 pending contracts of sale against a listing inventory of 1078 single family homes in Albany County. Southern Saratoga County in the Clifton Park market was also off to fast start with 61 pending contracts and a listing inventory of 366. In both Albany County and southern Saratoga County there is a 6 month supply of single family inventory which indicates a balanced market (neither a sellers or buyers market).
Closed single family home sales in Albany County in January were 113 at an average sale price of $205,000 and a median sale price of $175,000. Sale to list price ratio was 96.4% and the average days on the market were 87.
30 year fixed mortgage rates remain under 4% for the best credit rated purchasers.