GCAR Release Capital Region Housing Market Shows Appreciation

Dated: December 9 2013

Views: 876

Based on statistics released today by the Greater Capital Association of REALTORS® (GCAR) it is can be reported that he Capital Region’s housing market continues to remain active mirroring most of 2013. The report is based upon data collected by the Capital Region Multiple Listing Service, Inc. a regional service owned by GCAR and the Saratoga Schenectady Schoharie Association of REALTORS®, Inc.Miguel Berger (435-9944), 2013 GCAR president says, “When comparing the number of contracts of sale, the point at which a buyer and a seller agree on the terms and conditions of a sale, we see that there were 14% more of these ‘pending sales’ this October over last October. When real estate brokers look at their own internal numbers this is perhaps the key statistic they look to as it shows current activity.” He adds, “Although sales prices are not reported until the transaction closes pending sales are the best gauge of what is happening right now.”James Ader (464-0191, Ext. 16), GCAR’s chief executive officer says, “Everyone is certainly interested in housing values and we can report that through the end of October the median sales price has increased by 2%, and the average sales price by 3% for all of 2013. While not exciting to report these are solid numbers which hold the promise of a continuing recovery from the poor market we experienced just a few years ago.” He adds, “2% and 3% rates of appreciation would seem to indicate that our local market is well balanced at this time with neither buyers nor sellers having an edge when it comes to negotiations on pricing.”“We’d like to remind homeowners who receive the basic STAR exemption that they need to reregister for that exemption to continue in 2014. This is, at this point, a one-time reregistration process. Enhanced (seniors) STAR recipients must reregister each year as they have done previously.GCAR is a professional trade association representing over 2,700 real estate professionals in the Capital Region. GCAR is the “Voice for Real Estate ™ in the Capital Region.”GCAR, 451 New Karner Road, Albany, NY 12205
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

SmallBiz518 Fitness Artist

On this episode of #SmallBiz518, we’re at Fitness Artist in Clifton Park! Michael Pandolfo met with Co-Owner, Travis Gil, about what separates them from your typical fitness studio. They offer a

Read More

SmallBiz518 The Dark Horse Mercantile

On this episode of #SmallBiz518, we’re at The Dark Horse Mercantile in Saratoga Springs! Lizzie Landrum met with Co-Owner, Maddy Zanetti, about the history of the brand and the unique

Read More

SmallBiz518 Saratogas Broadway Deli

On this episode of #SmallBiz518, we’re at Saratoga’s Broadway Deli! Karen B Totino met with Owner, Daniel Chessare about the delicious and unique food they offer. Saratoga’s Broadway

Read More

SmallBiz518 The RED Bookshelf

On this episode of #SmallBiz518, we’re at The RED Bookshelf in downtown Albany! Alexander Monticello had the pleasure of meeting with Co-Founders, Rachel Eveleth and Mary Beth Fowler and the

Read More
Fair Housing Icon NY Fair Housing Notice