Is Albany, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$270,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Albany was $270,000 in March 2024, up 8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $137.9K | -8.0% |
2 Bedrooms | $210.5K | $220K | +4.5% |
3 Bedrooms | $250K | $275.1K | +10.1% |
4 Bedrooms | $305K | $325K | +6.6% |
5+ Bedrooms | $249.8K | $260K | +4.1% |
Summary: Albany housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Cities
Delmar | $340.1K | $410K | +20.6% |
Bethlehem | $352.8K | $391.5K | +11.0% |
Albany | $250K | $270K | +8.0% |
Rensselaer | $250K | $253K | +1.2% |
Housing Supply in Albany, NY
How many homes are available in Albany, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
370 | 368 | -0.5% |
Summary: The Albany real estate market had 368 homes for sale in March 2024, a 0.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 27 | 39 | +44.4% |
3 Bedrooms | 110 | 109 | -0.9% |
4 Bedrooms | 86 | 81 | -5.8% |
5+ Bedrooms | 142 | 135 | -4.9% |
Summary: The Albany housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 44.4%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 4.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
77 | 93 | +20.8% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 93 homes were sold or pending in Albany in March 2024, up by 20.8% month-over-month. Of the 93 sold homes, 43% were sold under asking, 12% were sold at asking, and 45% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 29 Days | -0.9% |
Summary: Homes in Albany had an average of 29 days on market in Mar 2024, down by 0.9% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 93 homes were sold in Albany; 66% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.