Capital Region Real Estate Market Trends

  Young Jin’s Market update for Albany NY March 2024 report: Wondering how the real estate market is doing these days?  Real estate market is a local event.  It all depends on what is going on in the region in terms of job market and demographics etc.… Last week I shared a blog post that may suggest a potential slow down on the real estate market in the Capital Region NY.  Today I am seeing a totally different picture!  Whereas Clifton Park NY may show some signs of slowdown in the market activity in March 2024, Albany NY is showing a very robust activity as of March 31, 2024.  The absorption rate is 0.72, which indicates that it takes 0.72 (less than 3 weeks) month to sell all homes on the market!  A normal balanced market would be 5 to 6 months.  Once again it is showing an extreme seller’s market.  Median days on the market is 12 days, 52% down month over month, with median sold price up by 2.1% month to month.  What does this mean to...

  Latest Real Estate update on Clifton Park NY!! Surprise surprise... the market data below shows that homes are not selling as fast...; the absorption rate for March 2024 was 1.72! That is the highest number I have seen yet! The  absorption rate is a number that shows how long it takes all homes on the market to be completely sold. A normal market would be a 5 or 6. Buyers market would be anything beyond 6! Maybe the tide has turned for the buyers? Finally? Keep staying tuned!  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  

Latest Real Estate update on Slingerlands NY!! Surprise surprise... the market data above shows that homes may not be selling as fast...; the absorption rate for March 2024 was 0.64! Not much of a change here... However, what is interesting is the list to sold price being at 96.4%: It FELL 5.02% and the median days on the market increased by 133.33% to 35 days.  Also the median sold price has gone down by 33.43% month over month!  These are huge shifts!   Maybe the tide has turned for the buyers? Finally? Keep staying tuned!!  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

Latest Real Estate update on Colonie NY!! Surprise surprise... the market data below shows that homes are not selling as fast...; the absorption rate for March 2024 was 2.74! That is the highest number I have seen yet! absorption rate is a number that shows how long it takes all homes on the market to be completely sold. A normal market would be a 5 or 6. Buyers market would be anything beyond 6! Maybe the tide has turned for the buyers? Finally? Keep staying tuned! Wish you good luck in your real estate journey!! 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  

  It's spring now! Even though we had a huge ice snow storm on the past weekend... and now on to the spring real estate market! Is it still a sellers market. Yes! Wonderful time to be sellers and ... challenging market market for buyers. However, where there is a will, there is a way! I have posted market trend for Clifton Park NY. Maybe you can start here? Clifton Park NY is an exciting place from real estate point of view -- a lot of growth potential in the days and years to come for many reasons. More info needed? Please reach out to me on my cell or DM! Wish you best 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