Is Albany County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Albany County has remained a Seller's Market.
Housing Prices in Albany County, NY
How much do homes in Albany County, NY cost?
Median Sold Price
$292,286
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Albany County was $292,286 in April 2024, up 8.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $135.9K | -9.3% |
2 Bedrooms | $220.5K | $230K | +4.3% |
3 Bedrooms | $270K | $295K | +9.2% |
4 Bedrooms | $341.5K | $360K | +5.4% |
5+ Bedrooms | $257.7K | $268K | +4.0% |
Summary: Albany County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.3%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Counties
Schoharie County | $184K | $218K | +18.5% |
Albany County | $270K | $292.2K | +8.2% |
Schenectady County | $236.4K | $255K | +7.8% |
Rensselaer County | $244.5K | $260K | +6.3% |
Greene County | $345K | $305K | -11.6% |
Housing Supply in Albany County, NY
How many homes are available in Albany County, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
727 | 652 | -10.3% |
Summary: The Albany County real estate market had 652 homes for sale in April 2024, a 10.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 5 | -28.6% |
2 Bedrooms | 81 | 80 | -1.2% |
3 Bedrooms | 246 | 224 | -8.9% |
4 Bedrooms | 183 | 166 | -9.3% |
5+ Bedrooms | 210 | 177 | -15.7% |
Summary: The Albany County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 15.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
179 | 165 | -7.8% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
75 Homes Were Sold
Over Asking
Summary: A total of 165 homes were sold or pending in Albany County in April 2024, down by 7.8% month-over-month. Of the 165 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Albany County, NY
How long does it take to sell a home in Albany County, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 35 Days | +38.9% |
Summary: Homes in Albany County had an average of 35 days on market in Apr 2024, up by 38.9% compared to last year.
Breakdown of Home Sale Times
110 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During April 2024, 165 homes were sold in Albany County; 67% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.