Preliminary single family home sale numbers for September indicate 175 homes sold and closed at an average selling price of $259,000 and a median price of $223,000 after an average of 59 days on the market. Year to date, for the first three quarters of the year, there have been 1758 single family homes sold and closed in Albany County compared to 1587 for the same period last year. The average selling price this year is $240,700 compared to $229,200 last year. The median selling price is $208,000 this year compared to $200,000 last year. Average days on market fell to 66 compared to 74 last year and average percentage of asking price realized increased to 97.5% from 97.1% last year.
Active single family inventory on October 1 stood at 1369 homes. With 182 home going under contract in September, that indicates 7.5 month supply of inventory county wide.
30 year fixed rate mortgages remain under 4.5% for the most credit worthy borrowers.