GCAR Release Capital Region Housing Market Shows Appreciation

Dated: 12/09/2013

Views: 823

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

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