Capital Region home sale prices higher in April

Mortgage

Sale prices continued to inch higher in the Albany, N.Y., region and the number of houses sold continued to inch lower in April.

Statistics shared by the Greater Capital Association of Realtors indicated a similar trend all through the first four months of 2019, though slightly more houses were listed for sale in that period than in the first four months of 2018.

Albany, N.Y.

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GCAR noted that competition is fierce for the houses that do come on the market — average time from listing to sale is running less than two months.

GCAR also noted that newly constructed houses are out of reach for many buyers, with a median price of almost $385,000 in the first quarter of 2019, compared with a median of $199,000 for resale of previously built houses.

The data are collected from GCAR’s Eastern New York Regional Multiple Listing Service, which captures many but not all housing sales in Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schenectady and Schoharie counties, as well as some sales in nearby areas of surrounding counties.

Individual statistics varied widely among the counties in April, as they often do. Closed sales in Schenectady County were down 37% in April 2019 over April 2018, for example, while median sale price jumped 66% over the year in Fulton County.


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