Is Colonie, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colonie is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Colonie has remained a Seller's Market.

Key Takeaway

Colonie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Colonie, NY

How much do homes in Colonie, NY cost?

Median Sold Price

$295,000

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$16,001(+5.7%)

Key Takeaway

Homes in Colonie have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Colonie was $295,000 in April 2024, up 5.7% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $208.4K$210K
+0.7%
3 $285K$295K
+3.5%
4 $310K$332.5K
+7.3%
5+ $360.5K$326K
-9.6%

Summary: Colonie housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 9.6%.

Housing Supply in Colonie, NY

How many homes are available in Colonie, NY?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2017-15.0%

Summary: The Colonie real estate market had 17 homes for sale in April 2024, a 15.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 53
-40.0%
3 87
-12.5%
4 77
0.0%
5+ 00
0.0%

Summary: The Colonie housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colonie, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Colonie in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.

Days on Market for Colonie, NY

How long does it take to sell a home in Colonie, NY?

Average Sale Time

Apr 2023Apr 2024CHANGE
4 Days22 Days+385.5%

Summary: Homes in Colonie had an average of 22 days on market in Apr 2024, up by 385.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Colonie are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in Colonie; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Colonie, NY

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