Greater Capital Association of Realtors released housing statistics for single family homes in the month of November. This includes new construction and resale. Please see below for stats & summary:
Entire Capital Region MLS Compare to Nov., 2008
• Residential Sales of Contract (544) +10.6% (492)
• Residential Closed Sales (804) +36.3% (590)
• Median Sales Price $178,000 -6.3% (190,000)
Average Days on Market 85 Days
Albany County
• Residential Closed Sales (195) +21.9% (160)
• Median Sales Price $195,000 -2.3% $199,500
Rensselaer County
• Residential Closed Sales (124) +74.6% (71)
• Median Sale Price $164,950 -10.8% $185,000
Saratoga County
• Residential Closed Sales (195) +26.6% (154)
• Median Sale Price $237,400 -4.5% $248,500
Schenectady County
• Residential Closed Sales (149) +28.4% (116)
• Median Sale Price $159,000 +4.3% $152,500
Schoharie County
• Residential Closed Sales (17) +6.3% (16)
• Median Sale Price $135,000 -11.1% $151,900
Montgomery County
• Residential Closed Sales (39) +56% (25)
• Median Sale Price $109,250 +60.7% $68,000
New Construction (Entire CRMLS)
• Existing Home Sales (73 ) +.013% from (72)
• Average List Price Sold $306,412 -14% $356,067
Overall the Capital Region experienced a 36.3% increase in closed sales for the month of November in comparison to the same time last year. Rensselaer County faired extremely well with a 74.6% increase with none of the six counties listed dropping this month. While the increase in closed sales is positive, the contracts of sales increased in the month of November for the sixth month in a row. There were 544 signed purchase agreements in the month of November, up 10.6% from a year ago.
The median sale price for most counties has dropped across the board but the overall softening can be attributed to the first-time home buyers tax credit and the large number of first-time home buyers.
