Capital District NY Real Estate Market Conditions

What is the Current Capital District, NY Real Estate Market Condition?

The Capital District NY area real estate market in 2007 was probably closest to a "balanced market". Home prices generally leveled off from the significant price increases during the 2002 to 2005 period. In some price ranges the prices are correcting downward slightly. Average days on the market were up slightly from 2006. In 2008, there is an adequate suppley of homes on the market and with fixed interest rate thirty year mortgages in the 5.75% to 6.25% range, 2008 should be a good year for homebuyers. For Capital District New York area home sellers, now is the time to make sure your home is priced correctly for a market that favors buyers. Along with pricing your home properly, home sellers must pay close attention to the details of marketing their home. Don't forget to consider curb appeal and staging your home for a successful sale. First impressions are everything.