Orson’s Local Market Analysis for the Capital District, NY
Orson’s Local Market Analysis
Capital District, NY
We can only hope that was our last big snow fall for this winter. I think that ground hog better watch his back!
If the ground hog was predicting the Real Estate Market he would have been more accurate. We are seeing a nice steady rise in our local market as we head into the 2nd Quarter of 2013. While the national reports have us in a buyers market our local market paints a different picture. 5,180 currently listed properties from Albany through Warren Counties, with only 867 of these properties being new this month! This represents a 20% decrease of inventory. (GCAR States) So with that being said the buyers market is slowly turning into a sellers market in some areas of our local market.
Breaking it down a little further, this month we see 958 current homes for sale in Saratoga County with 226 of them coming on new this month. Clifton Park led the way with 47 new listings, followed by Saratoga with 26, Malta with 14, Wilton/Gansevoort with 11 and Moreau/South Glens Falls with 5. Warren County was a little slower with a total of 23 new listings in March, bringing their total current active homes for sale to 246.
Lets not forget new construction as they are benefiting from this spring market also. 1201 current new construction active listings with 110 of those new for march.
So as we continue on in the spring market I am seeing a shrinking inventory for the number of buyers we have. If you were waiting for the right time to sell it would appear that now is the time to get into the market. For once again it seems like we are in the right place at the right time. Don’t you just love it here in Saratoga! Be well ya’ll and have a great month !!
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
Connect with me…..
Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066
For more info check out http://www.OrsonKlender.com
and watch the short video called the capital region skinny.