Real estate in the Capital District is fairly stable when compared to other parts of the country. Partly because we did not see the dramatic increases in home prices that much of the country saw these last few years. The difficulty in our market is that many buyers now think they can "steal" listings because "the market is so bad right now!!!" So, buyers are slow to act and when they do want to buy they think they can go in very low. I did some analysis on 9/12/08 through the MLS and in the four counties of Albany, Schenectady, Rensselaer, and Saratoga the following single family statistics were compiled:
Active Listings: 5,406
YTD Sales: 4,669
Inventory: 9.8 months
Average List Price: $241,311
Average Sale Price: $234,772
Sales to List %: 97.3%
Average days on market: 81 days
If you have any questions about the Capital District Real Estate market, please be sure to let me know.
Thank you,
Lewis
Serving Clifton Park NY and the entire Albany NY Capital Region
Lewis Beynon, REALTOR
Prime Property Solutions, LLC
(518)281-3951 LewisB@nycap.rr.com
good job with the local analysis. I applaud you for getting the true stats out to your market place. Keep up the great work