The number of homes listed for sale in Albany County was down 216 listings from last year. With 3,515 homes listed in Albany County in 2017 compared to the 2,699 home sold through the year, the drop was not a significant one when compared to 2016, with 2,735 homes selling in Albany County.
With a dip in supply, and plenty of demand, Albany County home sellers saw an increase in their average sale price, up $12,828 in 2017 versus 2016’s final average, which equates to a 5.5% increase overall.
It took less time to find a buyer in 2017, the average days on the market a homeowner spent before receiving a contract fell by 7 days compared to the 2016 mark. Overall differential between the amount of homes listed for sale and the amount of homes sold throughout the year, has increased 180 points.
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The Guilderland School District market saw both listings and sales decrease in 2017 compared to 2016. However the results were not drastic with just 61 fewer homes hitting the market in relation to just 35 fewer sales.
Guilderland School District home sellers still saw an average sale price increase of over $12,000 on their home sale. Homes were selling a week quicker in 2017 than in 2016, and differential tightened up with a 26-point increase.
The Guilderland School District finished 3rd overall in The Leverage School District Index and overall rankings of school districts. Guilderland School District market was just one of only three other markets to score over 1,000 points in the rankings this year.
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The South Colonie School District real estate market had listings increase by a mere 25 homes, and sales followed with an increase of 37 sales, that compared to 2016’s final numbers.
Home sellers were rewarded with an average sale price increase of $15,572 compared to 2016, while days on market (DOM) stayed consistent with a quicker sale by only four days. Differential also increased 12 points.
South Colonie finished 2nd overall in the The Leverage School District Index overall rankings of school districts. They too scored over 1,000 points in the rankings this year, along with Guilderland and Shenendehowa to be the only three markets to do so.
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*Statistics are Courtesy of the Eastern NY Multiple Listing Service from 1/1/2016 to 12/31/2017.