2018 Real Estate Review: NY's Capital Region

By
Real Estate Agent with Miranda Real Estate Group, Inc. NYS 10401214143
https://activerain.com/droplet/5gNW

2018 was a VERY interesting year for real estate in New York State's Capital Region.  Low inventory, motivated buyers & low interest rates drove market activity for the first 2 quarters were multiple offers were the norm and sale prices that were higher than asking price were commonplace too.  

With a slight uptick in interest rates, ongoing low inventory & worn-out buyers, conditions seemed to cool off a bit in the last half of the year.  This cool off however, was really a return to typical market conditions.  

SO.... how did the year look by the numbers?*  Here you go: 

* 11,792 single family homes were sold in 2018

* Average sale price was $238,497 which was 98.65% of asking price.

* Average days on market were 59

* Saratoga County had the largest volume of sold properties and the highest average sale price ($298,000)

* Rensselaer County had the lowest volume of sales.

* Schenectady County had the lowest average sale price at $181,766.

* Albany County had the lowest days on market at 42. 

 

What does this all mean for 2019?  Inventory continues to favor sellers a bit. 

Properly preparing, pricing & promoting any property remains pivotal in ANY MARKET to connect with the right buyer. 

 

So what about the listings you've seen promoted from my desk here?  Heres's an update:

 

 

 

 

 24 North St, Colonie... UNDER CONTRACT!

747 Plank Rd, Clifton Park... RENTED

 

66 James St, Schenectady... UNDER CONTRACT!

 

  46 Eileen St, Albany... OPEN HOUSE Jan 13th, 1 - 3 pm 

 

23 Bruce St, Scotia... SOLD!!

 

13 Turnberry Lane, Clifton Park... UNDER CONTRACT!

1223 Vinewood St, Rotterdam... SOLD!! 

 

*Per ENYR MLS single family data; not reflective of any personnel opinion or guarantees for future market performance. 

Posted by

 

 

Brenda Mayette
Licensed Sales Agent

Miranda Real Estate Group, Inc.
518-527-0800
www.brendamayette.com

"Getting you home with personality & professionalism"

 

 

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Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

Sounds like my market down South. Just less snow and a lower price point :)

Jan 09, 2019 02:38 PM #1
Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, looks like you have a good supply of homes in your area, and you are doing a nice job finding buyers for many of them!

Jan 10, 2019 12:24 AM #2
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