Homes for sale in Ballston Lake, NY are selling for almost $40,000 more through May 2017.
This is a big increase considering the inventory and home sales have remained the same when comparing year on year.
112 homes were listed for sale in the 12019 zip code through May, that was up barely, from the 101 homes listed through May of 2016.
Sales were consistent as well. The Ballston Lake zip code saw 67 homes sell through May, that in comparison to the 65 home sales they had at this time last year.
This data peaks interest, and raises questions in regards to the constant talk of lack of inventory that has supposedly plagued the region.
The majority of the top markets in all four counties, as well as the counties themselves, haven’t really seen a drop in inventory, based on re-sale homes in just the main counties.
Our theory is, the spread of “lack of inventory” has sent buyers into a tailspin, as home sellers lick their chops, causing homes to sell faster, and for more money, without any fluctuation in supply or demand.
Homes sold 1 month quicker through May in Ballston Lake compared to last year, and as we noted, average sale price had a healthy gain, all while the 12019 market performed as it usually has.
Make no mistake through, Ballston Lake is still a top market, #4 overall in fact in our zip code rankings.
Going forward, we could see a lot more listings hit in June, that could close the gap overall on this “loss of inventory”.
But so far, inaccurate data sourcing, and headline evangelists, are causing the housing market to act in ways that defy basic economics.
Have a look at current homes for sale in Ballston Lake, NY
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