Closed single family home sales in Albany County numbered 90 For February with the two month year to date number at 189 compared to 178 for the same two month period last year.Year to date, the median sale price is $183,000 vs. $190,000 last year but the average sale price for this year vs. last year is unchanged at $213,000. Sale to list price ratio is up a point this year to date at 96.2% vs 95.2% last year. Average days on market are up so far this year at 86 days vs. 81 days for the same two month period last year.
Single family listings in Albany County totaled 1288 as of March 1 and pending contracts numbered 144 in February. This gives us an 8.9 month supply of inventory.
30 year fixed home mortgage rates are still in the 5% range and we have two more months (up to April 30) for the first time homebuyer tax credit and the homeseller tax credit.
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