Market Dynamics

Dramatic lack of supply has led to days on market in saratoga county dropping by approx. 30% in just one year!! The average price in Saratoga county is almost topping 300k which I haven’t seen in my 12 years!  While all this is certainly great news I’d expect a rebalancing in the coming months as new inventory starts to hit for summer and interest rates steadily rise. With more supply buyers shouldn’t have to make offers on 4 houses before they finally lock one up and this will help to stabilize things as we move from a spring to summer market.



Market Temperature:

Average days on market May 2018:
   Saratoga County: 45 days
Schenectady County: 56 days 

Average days on market May 2017:
   Saratoga County: 64 days
Schenectady County: 61 days

Average Sale Price May 2018:
Saratoga County: $299,182
Schenectady County: $168,423
Average Sale Price May 2017:

Saratoga County: $286,934
Schenectady County: $163,530

Change in Average Sale Price from prior Year:
Saratoga County: Up 4.3%
Schenectady County: Up 3%