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Category Archives: Press Releases

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 …

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 …

March 2020 – In And Out Like A Lion

But not because of the weather. As COVID-19’s impact spread across the United States throughout March, the stock market declines hit investors hard, recovering only slightly in the final week of the month. Massive layoffs also shook the economy with 3.28 million initial jobless claims filed in a single week—the highest in history more than four times over. Real estate followed suit hitting the …

Home Sales are on the Rise in January

In the Capital Region, pending sales increased 6.4 percent from January 2019 to 844 for the month. Closed sales increased 9 percent from January 2019 to 809 for the month; a nice surprise for what is usually the slowest month of the year. According to Freddie Mac, the low mortgage rate environment continues to spur home buying activity, with applications to purchase a home …

Low Inventory Remains a Pressure Point Throughout Regi...

The housing market in the Capital Region finished out with third quarter of the year on a high. The demand for inventory has remained high throughout the first 9 months of 2019. The number of new listings increased 4 percent last month to 1,740 from 1,677 in September 2019. Demand has helped prop up sales and prices, despite heavy reductions in inventory and months …

Home Prices Up, Inventory Down

At this point in the year, there is a good sense for how the housing market is likely to perform for the foreseeable future. While it remains true that sales prices are running higher and inventory options are still relatively low, buyers are beginning to find some wiggle room at price points and geographies throughout the region and in points north and south. Housing …

Prices Continue to Rise

Buyers are beginning to return in full force this spring. The competition is fierce for well-priced homes in desirable locations. As prices continue to gain traction the median sales price in the Capital Region increased 5 percent to $214,946 with the percent of original list price received landing at about 95 percent. The median sale price for new construction increased 3 percent to $389,347, …