Market Update

Single family closed home sales in Albany County numbered 83 for the month of January compared to 97 in January '09. The average selling price (including seller concessions) was $219,000 vs. $230,000 the previous January and the medina selling price was $188,000 vs. $200,000. Average days on the market were 76 this January compared to 81 last January and the average % of asking price received (including seller concesssions) was 96.6% this past January compared to 95% in January '09.

Active single family listings as of February 1 in Albany County totaled 1229. Pending sales (homes going under contract) in January were 126 giving us a 9.7 month supply of inventory.

30 year fixed mortgage rates are still in the low 5% range.

The above home sale numbers reflect the fact that most of the current market activity is predominantly in the $175,000 to $250,000 price range.