Sold and closed single family homes in Albany County numbered 191 for June '09, compared to 232 for June '08. Both the average and median sale price for the month slipped from the previous June...the median from $207,500 in June '08 to $200,000 in June '09 and the average from $230,761 in June '08 to $228,363 in June '09. The sale price to list price ratio remained unchanged at 97% and the average days on market decreased by 1 from 71 in June '08 to 70 in June '09.
Year to date Albany County single family home sale numbers were off 15%...813 for the first six months of this year compared to 957 in the six months ended June 30, 2008. The average sale price declined from $229,093 in '08 to $225,548 for the first six months of this year. The median sale price is unchanged at $200,000. The average sale to list price ratio fell from 97.2% for the first half of '09 to 96.4% for the first half of this year. Average days on market also increased from 73 in '08 to 80 so far this year.
30 year fixed mortgage rates ranged from just below 5% to 5.5% last month. The current inventory of single family homes for sale in Albany County stood at 1294 as of July 1. The number of homes that went pending (signed a purchase contract) in June was 251...giving us a 5.2 month supply of homes on the market, down slighty from last month's 5.4 and indicating a balanced market.
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