Skip to main content

Market update for Albany County NY January 2024

 Are we still in the seller’s market?  We have been in the seller's market for so long… When is the market going to turn to the buyer’s market? If you are wondering why we still have the seller's market, ... I may have the answer for you in this blog post!  The chart below shows the months of supply inventories for Albany County NY, a key indicator of the current real estate market!  In a normal balanced market, it should be 5-6 as opposed to the 1.53 as we have in our most up to date stats at the time of writing this blog post.  As you can see, we are in an extremely strong seller’s market… and probably explains the reason why it is so hard to buy homes these days (most sellers receiving multiple offers within a few days of being on the market!)... For more info please reach out to me via email or on cell phone.  

Wish you good luck in your real estate journey,

Young Jin Chun

Licensed Real Estate Salesperson

Sinkoff Realty Group

Email: YoungJin@SinkoffRealtyGroup.com

Website: www.SinkoffRealtyGroup.com

Cell: (518)728-6591

 













Labels:

Comments

Post a Comment

Popular posts from this blog

First blog post!

  Hello there, I am so thrilled to write my first blog post for this blog platform!  I have decided to create this blog... because so many people ask me what the real estate market is like... And I thought it would be a good idea for me to write about real estate market trends so that people can make informed decisions.  Writing about blog posts on the latest real estate trends will be beneficial to me as well; I will be encouraged more to learn & reflect about the fast changing real estate market and the overall global economy, which is always an important factor to take account of.  Please stay tuned to the next blog post and wish you all the best in your real estate journey! Best, Young Jin Chun, Lic. Real Estate Salesperson
Post a Comment
Read more

Young Jin’s Monday Market update for Schenectady, NY June 2024

  7/29/2024 Young Jin’s Monday Market update for Schenectady , NY June 2024: (Market stats provided by Curtesy of Realtors Property Resource, LLC) Wondering how the real estate market did in June 2024? Here’s the latest June 2024 market stats on Schenectady NY! Real estate market is a local event and it’s a very complicated event to say the least! It all depends on what is going on in the region in terms of the job market and demographics etc.… Here’s a quick market snapshot on Schenectady NY! The absorption rate came in at 1.58, which indicates that it takes less than 8 weeks to sell all homes on the market! A normal balanced market would be at 5 to 6 months. List to sold price ratio came in at just over 103% which indicates that most homes sold almost 3% above the list price!   Median days came in at 8 days, which indicates most homes went under contract just over a week! Median sold price decreased to $268,111, a decrease of 0.33% month over month. In summary, once agai...
Post a Comment
Read more

Young Jin’s Monday Market update for Colonie, NY May 2024:

  6/17/2024 Young Jin’s Monday Market update for Colonie, NY May 2024: (Market stats provided by Curtesy of Realtors Property Resource, LLC) Wondering how the real estate market did in May 2024? May 2024 reports have arrived! Here’s the latest May 2024 market stats on Colonie NY! Real estate market is a local event and it’s a very complicated event to say the least! It all depends on what is going on in the region in terms of the job market and demographics etc.… Here’s a quick market snapshot on Colonie NY! The absorption rate came in at 1.75, which indicates that it takes less than 8 weeks to sell all homes on the market! A normal balanced market would be at 5 to 6 months. List to sold price ratio came in at 98.2%, which indicates that most homes sold slightly the list price. Median days fell to 3 days, a decrease of almost 92.31% month over month! Median sold price increased to $352,500, an increase of 54.95% month over month. In summary, once again the real estate market st...
Post a Comment
Read more