Is Albany County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Albany County has remained a Seller's Market.
Key Takeaway
Albany County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albany County, NY
How much do homes in Albany County, NY cost?
Median Sold Price
$295,368
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Albany County have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Albany County was $295,368 in May 2024, up 8.7% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.7K | $130K | -10.2% |
| 2 Bedrooms | $223K | $230K | +3.1% |
| 3 Bedrooms | $271.3K | $297K | +9.5% |
| 4 Bedrooms | $347K | $360K | +3.7% |
| 5+ Bedrooms | $255K | $280K | +9.8% |
Summary: Albany County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Counties
| Schoharie County | $184.3K | $217K | +17.7% |
| Albany County | $271.6K | $295.3K | +8.7% |
| Schenectady County | $239K | $259.2K | +8.4% |
| Rensselaer County | $245.2K | $260.2K | +6.1% |
| Greene County | $345K | $300K | -13.0% |
Housing Supply in Albany County, NY
How many homes are available in Albany County, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 762 | 753 | -1.2% |
Summary: The Albany County real estate market had 753 homes for sale in May 2024, a 1.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 94 | 82 | -12.8% |
| 3 Bedrooms | 264 | 274 | +3.8% |
| 4 Bedrooms | 197 | 197 | 0.0% |
| 5+ Bedrooms | 201 | 193 | -4.0% |
Summary: The Albany County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 179 | 197 | +10.1% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
116 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albany County, you could pay more than the asking price. 58.9% of homes here sold above asking price last month.
Summary: A total of 197 homes were sold or pending in Albany County in May 2024, up by 10.1% month-over-month. Of the 197 sold homes, 28% were sold under asking, 13% were sold at asking, and 59% were sold over asking.
Days on Market for Albany County, NY
How long does it take to sell a home in Albany County, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 20 Days | -7.7% |
Summary: Homes in Albany County had an average of 20 days on market in May 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
156 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albany County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 197 homes were sold in Albany County; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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The data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by other firms are marked with theListing Broker’s Firm Name. Data provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally 
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