Is Albany County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$295,368
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Albany County was $295,368 in May 2024, up 8.7% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $144.7K | $130K | -10.2% |
2 Bedrooms | $223K | $230K | +3.1% |
3 Bedrooms | $271.3K | $297K | +9.5% |
4 Bedrooms | $347K | $360K | +3.7% |
5+ Bedrooms | $255K | $280K | +9.8% |
Summary: Albany County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Counties
Schoharie County | $184.3K | $217K | +17.7% |
Albany County | $271.6K | $295.3K | +8.7% |
Schenectady County | $239K | $259.2K | +8.4% |
Rensselaer County | $245.2K | $260.2K | +6.1% |
Greene County | $345K | $300K | -13.0% |
Housing Supply in Albany County, NY
How many homes are available in Albany County, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
762 | 753 | -1.2% |
Summary: The Albany County real estate market had 753 homes for sale in May 2024, a 1.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 7 | +16.7% |
2 Bedrooms | 94 | 82 | -12.8% |
3 Bedrooms | 264 | 274 | +3.8% |
4 Bedrooms | 197 | 197 | 0.0% |
5+ Bedrooms | 201 | 193 | -4.0% |
Summary: The Albany County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
179 | 197 | +10.1% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
116 Homes Were Sold
Over Asking
Summary: A total of 197 homes were sold or pending in Albany County in May 2024, up by 10.1% month-over-month. Of the 197 sold homes, 28% were sold under asking, 13% were sold at asking, and 59% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 20 Days | -7.7% |
Summary: Homes in Albany County had an average of 20 days on market in May 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
156 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 197 homes were sold in Albany County; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.