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.