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


7/1/2024


Young Jin’s Monday Market update for Albany, NY May 2024:
(Market stats provided by Curtesy of Realtors Property Resource, LLC)
Wondering how the real estate market did in May 2024? Here’s the latest May 2024 market stats on Albany 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 Albany NY! The absorption rate came in at 1.03, which indicates that it takes just over 4 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 103.7% which indicates that most homes sold almost 4% above the list price!  Median days rose to 7days, an increase of 16.67% month over month! Median sold price increased to $310,000, an increase of 12.73% month over month. In summary, once again the real estate market stats show that we are in a very strong 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!
#sinkoffrealtygroup #koreanrealtor #realestate

 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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