Is Albany, OR 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.
Key Takeaway
Albany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albany, OR
How much do homes in Albany, OR cost?
Median Sold Price
$438,250
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Albany have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Albany was $438,250 in April 2024, up 9.6% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $319.9K | $312.5K | -2.3% |
| 3 Bedrooms | $395.7K | $420K | +6.1% |
| 4 Bedrooms | $485K | $534K | +10.1% |
| 5+ Bedrooms | $590K | $540K | -8.5% |
Summary: Albany 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 decreased by 2.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Albany | $400K | $438.2K | +9.6% |
| North Albany | $514K | $545K | +6.0% |
Housing Supply in Albany, OR
How many homes are available in Albany, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 68 | +9.7% |
Summary: The Albany real estate market had 68 homes for sale in April 2024, a 9.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 31 | 38 | +22.6% |
| 4 Bedrooms | 19 | 17 | -10.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Albany 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 remained the same, 3 bedroom homes increased by 22.6%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albany, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in Albany in April 2024, up by 33.3% month-over-month. Of the 16 sold homes, 31% were sold under asking, 38% were sold at asking, and 31% were sold over asking.
Days on Market for Albany, OR
How long does it take to sell a home in Albany, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 35 Days | +95.2% |
Summary: Homes in Albany had an average of 35 days on market in Apr 2024, up by 95.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albany are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Albany; 75% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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