Capital Region Real Estate Market Trends

  6/10/2024 Young Jin’s Monday Market update for Slingerlands, 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 Slingerlands 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 Slingerlands NY! The absorption rate came in at 1.12, 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 99.3%, which indicates that most homes sold slightly below the list price. Median days fell to 15 days, a decrease of almost 60% month over month! Median sold price increased to $655,000, an increase of 3.97% month over month. In summary, once again the rea...

  6/3/2024 Young Jin’s Monday Market update for Albany, NY April 2024: (Market stats provided by Curtesy of Realtors Property Resource, LLC) Wondering how the real estate market did in the spring of 2024? It’s June already! Here’s the latest April 2024 report 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 1.02, 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 103.4%, which indicates that most homes sold more than 3% above the list price. Median days fell to 6 days, a decrease of almost 57% month over month! Median sold price increased to $275000, an increase of 7.74% month over month. In summary, once again the real estate market stats...

5/20/2024 Young Jin’s Monday Market update for Clifton Park, NY April 2024: (Market stats provided by 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 Clifton Park 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 Clifton Park NY!  The absorption rate was 1.43, which indicates that it takes less than 7 weeks to sell all single family homes on the market!  A normal balanced market would be 5 to 6 months.  List to sold price ratio came in at 106.8%, which indicates that most homes sold more than 6% above the list price.  Median days fell to 5 days, a decrease of almost 30% month over month.  However, median sold price fell to $482,885, a decrease of 0.95%  month over m...

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! ...

Young Jin’s Market update for Schenectady NY March 2024 report: Wondering how the real estate market is doing?  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.… Here’s a latest market activity report on Schenectady NY, home to the General Electric!  The absorption rate is at 1.33, which indicates that it takes 1.33 months (less than 6 weeks) 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 14 days,  17.65 % down month over month, with median sold price up by 4.87 % month to month.  What does this mean to you?  Excellent time to 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 for reading my real estate market update post! Wish you good luck in your real estate jou...

  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