Based on statistics released today by the Greater Capital Association of REALTORS® (GCAR) the residential real estate market in New York’s Capital Region during February showed excellent results. The report is based upon data collected by the Capital Region Multiple Listing Service, Inc. a regional service owned by GCAR and the Saratoga Schenectady Schoharie Association of REALTORS®, Inc.
Laurene Curtin (459-4564), 2010 GCAR president says, “In the Capital Region during February 2010 we saw excellent reports in the number of contracts of sale, in the number of closed sales, and in both the average and median price of homes sold. Every one of these statistics has improved compared to February 2009.” She adds, “We don’t expect every month going forward to show across the board improvement, and certainly not to the degree evidenced last month, but we do think that the market is slowly rebuilding itself. Contracts of sale, a harbinger of things to come several months down the road are up by 14%; closed sales where title changes hands are up 23%. The Capital Region market is alive and well.”
James Ader (464-0191 Ext. 16), GCAR’s chief executive officer says, “As we look at these very positive numbers we remember that the home buyer tax credits which are in place at this time are a big, if an unquantifiable, influence on our market. Yet the feeling is that even when the tax credits expire the market will continue to improve.” He added, “It has been some time since so many indicators were positive at the same time.”
“We would suggest to buyers that they take a look at the social and economic benefits of purchasing real estate and talk to your REALTOR® about taking advantage of the best market buyers have seen in many years,” says Mrs. Curtin. “And look forward to the weekend of April 17th and 18th for GCAR’s Open House Weekend. We will have many houses open those two days. Take a look around to see what you have available to you.”
GCAR is a professional trade association representing 3,000 real estate professionals in the Capital Region. GCAR is the “Voice For Real Estate In The Capital Region.”