Closed single family home sales in Albany County numbered 129 in April '09 compared to 169 the previous April. The median home sale price remained unchanged at $192,000. The average sale to list price ratio (the percentage of the asking price the seller is receiving) dropped slightly to 97% this April from 97.4% the previous April and the average days on the market increased to 87 from 67 in April '08.
The four month year to date single family home sale numbers in Albany County showed sold and closed homes at 441 through April 30, 2009 compared to 546 during the same period in '08... a 19% drop. The median home sale price dropped slightly from $197,800 in '08 to $195,000 in '09. The average sale to list price ratio has dropped to 96% from 97.2% and the average days on market has increased to 88 from 74.
The velocity of the Albany County single family home market in April was similar to last month with a 6.2 month supply of inventory on hand as of May 1, 2009 (6.1 month supply at April 1). April pending sales contracts numbered 200 (192 in March) and the number of active listings on May 1 was 1253 (1165 on April 1).
Mortgage interest rates are still very low hovering around the 5% mark (30 year fixed rates).
Friday, May 1, 2009
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