Capital Region Real Estate Market Strongest In 6 Years

Dated: 01/23/2014

Views: 2287

If you’re a recent buyer, feel good knowing 2013 was the best year in the Albany-Saratoga real estate market since the great recession. In 2013, buyers purchased 9,221 homes in the Capital Region, the highest number of recorded sales since 2007. We saw historically low costs to home buying in 2013 thanks to the very low interest rates, especially in the first half of the year.If you’re looking to buy in 2014, feel good knowing interest rates are still at historic lows, home prices are improving, and our overall local and global economies continue to progress. No need to regret 2013. This year still offers many opportunities, especially if you plan on living in your home for a few years.And finally, if you’re a seller, feel good knowing our 2014 real estate market is likely going to be even stronger. The improving market should continue to lift home prices and balance out the real estate market – tipping the market back towards an even bargaining table between buyers and sellers.We’ve launched a new website - www.FineAlbanyHomes.com - to improve your home buying and researching experience. You can monitor the latest homes for sale, get alerts for price reductions, new listings, and the most up-to-date real estate information as it happens in our Albany-Saratoga region. The website links directly to the MLS database and is updated daily, so it’s as current and accurate as the MLS database.Below is an excerpt from today’s Business Review article. 
The residential real estate market in the Albany, NY region had its best performance in 2013 in six years as low interest rates, an improving job market and other factors spurred demand for new and existing homes.Albany County had the highest increase in average price, rising 3 percent, to $236,768. The average price increased 2 percent in Saratoga County ($286,681). In Rensselaer County the average price was unchanged ($185,011), and the average fell 1 percent in Schenectady County ($179,504).
Blog author image

Alexander Monticello Esq.

Alexander is a New York State licensed real estate broker and New York State licensed attorney. A life long upstate New Yorker, Alexander has lived and worked in the Capital Region since 2005. He has ....

Latest Blog Posts

Zacharys Pastry Shoppe

Small Biz 518 – Zachary’s Pastry ShoppeMonticello Real Estate recently sat down and met with owner and chef – Dan Raymond at Zachary’s Pastry Shoppe in Rensselaer County. Chef Dan talks

Read More

Small Biz 518 Death Wish Coffee

Recently, Monticello  Real Estate sat down and talked to Death Wish Coffee.In 2012, Death Wish Coffee Co. started in a small coffee shop in Saratoga Springs, NY. Founder Mike Brown saw a need

Read More

9 Miles East Farm

9 Miles East Farm is located in the town of North Umberland and located 9 miles east of Saratoga Springs. The farm has been there since 2004 and their goal is to improve the soil each year so they

Read More

New Listings

Monticello Real Estate has two new listings.1136 Van Antwerp Road, NiskayunaLocated in Old Niskayuna - this home backs up to Hillside School. The interior has many upgrades. Kitchen is open with

Read More