Is Albany, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Albany has remained a Seller's Market.
Housing Prices in Albany, NY
How much do homes in Albany, NY cost?
Median Sold Price
$272,503
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Albany was $272,503 in April 2024, up 8.9% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $158K | $132.9K | -15.8% |
2 Bedrooms | $212K | $224.2K | +5.8% |
3 Bedrooms | $250K | $275K | +10.0% |
4 Bedrooms | $305K | $325.3K | +6.7% |
5+ Bedrooms | $248.3K | $260.4K | +4.9% |
Summary: Albany housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.8%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
Delmar | $340K | $410K | +20.6% |
Bethlehem | $354.5K | $395K | +11.4% |
Albany | $250.1K | $272.5K | +8.9% |
Rensselaer | $247.5K | $253.5K | +2.4% |
Slingerlands | $450K | $397K | -11.8% |
Housing Supply in Albany, NY
How many homes are available in Albany, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
422 | 370 | -12.3% |
Summary: The Albany real estate market had 370 homes for sale in April 2024, a 12.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 41 | 39 | -4.9% |
3 Bedrooms | 127 | 115 | -9.4% |
4 Bedrooms | 91 | 75 | -17.6% |
5+ Bedrooms | 158 | 137 | -13.3% |
Summary: The Albany housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
100 | 89 | -11.0% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 89 homes were sold or pending in Albany in April 2024, down by 11.0% month-over-month. Of the 89 sold homes, 39% were sold under asking, 19% were sold at asking, and 42% were sold over asking.
Days on Market for Albany, NY
How long does it take to sell a home in Albany, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 36 Days | +36.2% |
Summary: Homes in Albany had an average of 36 days on market in Apr 2024, up by 36.2% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During April 2024, 89 homes were sold in Albany; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.