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.
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