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Category Archives: Press Releases

Housing Market Remains Strong in the Off Season

Throughout the Capital Region, market activity continues to trend upward for the seventh consecutive month. Typically, this time of year the market slows down but as a result of the spring/summer shutdowns due to the COVID-19 pandemic and the low inventory, it looks like the market will remain fairly active throughout the winter months. Greater Capital Association of REALTORS® President, Tom McGroder of Thomas …

October Sales Deviate from the Standard: Temps Went Do...

Nationwide, the economy continues to be aided by home sales activity which is at the highest level since 2006. Throughout the Capital Region, buyer activity remains stronger than usual for this time of year as well. Sales have continued to trend upward, marking six consecutive months of month-over-month gains. Cooler weather usually brings a cooling to the market – not in 2020. Closed sales …

Warm Weather, Hot Market

Historically, the market starts to taper off in the fall, but 2020 continues to make its own history in real estate and all else that matters. Closed sales increased 27 percent from September 2019 to 1,421 for the month. Pending sales were also up 27 percent from September 2019 to 1,371 for the month. Sales forecasts are indicating continued activity in the coming months …

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Region’s Real Estate Market Keeps Up the Pace

While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing markets, the healthy housing demand we see today is expected to create significant tailwinds in the near term. Pending sales were up 23 percent from August 2019 at 1,470 for the month. Closed sales were nearly the same at 1,389 compared to …

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High demand, Low Supply in the Capital Region

Healthy buyer demand and inadequate supply continues to be the story for the Capital Region and much of the country. With the inventory of homes for sale still low, the competitive market for buyers shows little sign of weakening. Pending sales increased 17 percent from July 2019 to 1,546 for the month. Closed sales decreased by 9 percent from July 2019 to 1,187 for …

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Hot Temps – Hotter Market

While business owners across New York’s regions spent much of June preparing to re-open, REALTORS® took a deep breath, donned masks and gloves, and got busy. Very busy. Last month Sellers received 96 percent of the original list price causing the median sales price to increase to $225,000. As more consumers show interest in buying a home, upward pressure on prices will most likely …

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Pent Up Demand Hits Capital Region Real Estate Market

As the Capital Region marked its paces through New York on Pause to New York Forward, real estate shows signs of initial recovery. Continued mortgage rates at or below 3.3 percent and the welcomed activity of Phases 2 and 3 are enabling buyers and sellers to return to what was a busy market in the first quarter of 2020. Though the effects of COVID-19 …

Reopen, Rebound, and Recover

As New York State entered Phase 1 of the Governor’s plan for reopening, the Capital Region’s real estate market prepares for a rebound in Phase 2. Due to the shut-down of activity in mid-March, pent up demand from Buyers is expected to bring market activity back to a healthy level – no pun intended there. Realtors will be vigilant in keeping Sellers and Buyers …