Is Albany, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Albany was a Seller's Market.
Key Takeaway
Albany is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Albany, OR
How much do homes in Albany, OR cost?
Median Sold Price
$430,000
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Albany have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Albany was $430,000 in March 2024, up 6.8% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $305K | $312.5K | +2.5% |
| 3 Bedrooms | $394.9K | $415K | +5.1% |
| 4 Bedrooms | $490K | $537K | +9.6% |
| 5+ Bedrooms | $607.5K | $522.5K | -14.0% |
Summary: Albany housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 14%.
Median Sold Price Compared To Nearby Cities
| North Albany | $504.3K | $540K | +7.1% |
| Albany | $402.5K | $430K | +6.8% |
Housing Supply in Albany, OR
How many homes are available in Albany, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 78 | +6.8% |
Summary: The Albany real estate market had 78 homes for sale in March 2024, a 6.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 36 | 40 | +11.1% |
| 4 Bedrooms | 29 | 27 | -6.9% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Albany housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albany, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Albany in March 2024, down by 35.7% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 41 Days | -15.5% |
Summary: Homes in Albany had an average of 41 days on market in Mar 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Albany are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Albany; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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