Market Update

May '08 showed 75 fewer home sales closed than the previous May in Albany County (146 vs. 221). The average price increased from $224,000 to $238,000 but the average days on market increased from 60 to 82. The average sale to list price ratio also declined from 98.4% to 96.8%. June's numbers will likely be better as indicated in the pending contracts number in the previous post below.