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Young Jin’s Market update for Colonie NY April 2024 report:


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

Curtesy of Realtors Property Resource,LLC

Wondering how the real estate market is doing in the spring of 2024?  Here’s the latest April 2024 report 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!  The absorption rate was 1.86, which indicates that it takes almost 2 months to sell all homes on the market!  A normal balanced market would be 5 to 6 months.  List to sold price ratio shows as 101.2%, which indicates that most homes sold slightly above list price.  Median days fell to 39 days, a decrease of 30% month over month.  However, median sold price fell to $227, 500, a decrease of 29.13% month over month.  In summary, once again it is showing an extreme seller’s market!  What does this mean to you?  Excellent time to be a seller, for sure!  Please reach out to me if you want to know more about your options as a seller or buyer.  Thank you so much for reading my post!

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


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