Capital Region housing market running strong at midpoint of 2021 | The Daily Gazette
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ALBANY High sales volume, short supply, and rising prices continue to define the Capital Region housing market at the halfway point in 2021.
The Greater Capital Association of Realtors said this week that its members are seeing properties remain on the market for much less time than in previous years.
Absent a mortgage rate hike, the intensity could be sustained through the autumn, GCAR CEO Laura Burns said.
The flip side is that many would-be first-time homebuyers are being outbid on properties, GCAR President Jeffrey Decatur said.
Capital Region housing market lucrative for sellers, tough for buyers | The Daily Gazette
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June 6, 2021
Robert Szymczak sits outside his late father s house on Lake Hill Road in East Glenville on Wednesday, June 2, 2021. The house sold for more than asking price just three days after going on the market.
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In the words of a veteran Realtor: “COVID has made ‘home’ more important than it ever was.”
This, and the circumstances surrounding COVID, have lit a fire under the Capital Region housing market, where houses are selling much more quickly and for much more money than before the pandemic.
“Selling was kind of a crazy experience,” said Emily Paulsen, formerly of Delmar. “We actually had people driving past our house 30 minutes after it was listed.” The money in the eventual sale deal was great but the stress was high.
Capital Region housing sales, prices jump 7% in 2020 despite COVID | The Daily Gazette
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CAPITAL REGION Home sales in the Capital Region ended the year of COVID with a boom, the local trade group for Realtors reported.
Across the region, 7% more single-family housing units were sold in 2020 than in 2019, despite the limitations on transactions created by pandemic restrictions last spring. And the median price paid was 7% higher in 2020 than in 2019, despite the economic shutdown that suspended or ended so many New Yorkers’ jobs.
Single-month statistics which can be distorted by one-time events showed an even greater jump year over year. In December 2020, there were 36% more closed sales than in December 2019, and the median price was 10% higher.