Is Schenectady County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schenectady County is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Schenectady County has remained a Seller's Market.

Key Takeaway

Schenectady County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Schenectady County, NY

How much do homes in Schenectady County, NY cost?

Median Sold Price

$269,318

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,164(+9.4%)

Key Takeaway

Homes in Schenectady County have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in Schenectady County was $269,318 in November 2024, up 9.4% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $125K$139.9K
+12.0%
2 $195K$210K
+7.7%
3 $244.5K$265.4K
+8.5%
4 $300K$320K
+6.7%
5+ $250K$280K
+12.0%

Summary: Schenectady County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 12%.

Median Sold Price Compared To Nearby Counties

Schenectady County
+9.4%
Albany County
+8.1%
Montgomery County
+7.3%
Schoharie County
+5.4%
Saratoga County
+4.8%

Housing Supply in Schenectady County, NY

How many homes are available in Schenectady County, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
657502-23.6%

Summary: The Schenectady County real estate market had 502 homes for sale in November 2024, a 23.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 55
0.0%
2 8168
-16.0%
3 255183
-28.2%
4 199155
-22.1%
5+ 11791
-22.2%

Summary: The Schenectady County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 28.2%, 4 bedroom homes decreased by 22.1%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
162133-17.9%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

62 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schenectady County, you could pay more than the asking price. 46.6% of homes here sold above asking price last month.

Summary: A total of 133 homes were sold or pending in Schenectady County in November 2024, down by 17.9% month-over-month. Of the 133 sold homes, 39% were sold under asking, 14% were sold at asking, and 47% were sold over asking.

Days on Market for Schenectady County, NY

How long does it take to sell a home in Schenectady County, NY?

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days28 Days+69.0%

Summary: Homes in Schenectady County had an average of 28 days on market in Nov 2024, up by 69% compared to last year.

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

33 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Schenectady County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 133 homes were sold in Schenectady County; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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