While home sales are down to jump start 2019, sellers are looking to take advantage of what still is a strong Capital Region market. Average sale prices through January are well above 2018’s average price of $217K. Even though day on market has slowed a bit, this is positive news for the regions capital county. The Bethlehem School District ended the month with average prices over $300K. That compared to last years January average of $280K shows that despite national propaganda, things are looking good already for 2019.
Like Albany County, Rensselaer County’s sales have dipped compared to last year, but average prices are still up as are the number of homes to hit the market. Most markets of the county are seeing the same numbers coming in after the year’s first month, as they have in 2018 and years prior. Top markets such as East Greenbush, Troy and Averill Park (School Districts) have seen an increase in speed of sale, as well as the number of homes listed and sold. With such a small sample size, average prices are too generalized as of yet to tell how they will correlate going forward.
Saratoga County has jumped out to a positive 2019 campaign. Considering, again, that national news outlets seem to be hedging their guess that the real estate market is due for a downward trend. But with more listings, higher sale prices and practically, the same number of home sales, I don’t see any concern for a downturn, even when adding to the fact that winter has been extremely cold, and January is usually a slower time of year overall. As you may have guessed, the Clifton Park (Shen), Saratoga and Ballston Spa markets, are all performing as they should.
Even with a slight decrease in home sales, Schenectady County is still benefiting from an overall strong market. Prices and listings rose in January compared to 2018, and average sales under 60 days is also a positive note. It’s worth mentioning that the Schenectady County City School District market saw an average sale price of just over $100,000 for the first time in recorded history. Proof that the Capital Region market is still plugging along at a healthy pace, and should continue to do so this year.
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