Is Rensselaer, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Rensselaer was a Seller's Market.
Key Takeaway
Rensselaer is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Rensselaer, NY
How much do homes in Rensselaer, NY cost?
Median Sold Price
$253,500
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Rensselaer have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Rensselaer was $253,500 in April 2024, up 2.4% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $138K | N/A |
| 2 Bedrooms | $206K | $225K | +9.2% |
| 3 Bedrooms | $259.5K | $267.5K | +3.1% |
| 4 Bedrooms | $262K | $283.7K | +8.3% |
| 5+ Bedrooms | $211K | $250K | +18.5% |
Summary: Rensselaer 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 9.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 18.5%.
Median Sold Price Compared To Nearby Cities
| North Greenbush | $327.5K | $400K | +22.1% |
| Albany | $250.1K | $272.5K | +8.9% |
| Rensselaer | $247.5K | $253.5K | +2.4% |
| East Greenbush | $295K | $300K | +1.7% |
Housing Supply in Rensselaer, NY
How many homes are available in Rensselaer, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 41 | -14.6% |
Summary: The Rensselaer real estate market had 41 homes for sale in April 2024, a 14.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 25 | 17 | -32.0% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Rensselaer 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 50%, 3 bedroom homes decreased by 32%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 6 | -72.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rensselaer, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Rensselaer in April 2024, down by 72.7% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Rensselaer, NY
How long does it take to sell a home in Rensselaer, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 32 Days | +50.8% |
Summary: Homes in Rensselaer had an average of 32 days on market in Apr 2024, up by 50.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rensselaer are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Rensselaer; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.