The middle ground
A sample of what median prices buy
Median sales prices for singlefamily homes have risen across the Capital Region in the year from September 2019 to September 2020: from 9 percent in Albany to 24 percent in Schenectady.
The rising cost of homes is caused by supply and demand - buyers are motivated to take advantage of low interest rates on mortgages, but there aren't a lot of houses on the market. It's been the story for more than a year now. On average, sellers are getting 98% of their asking price despite the rising prices and some houses are on the market for just days. Listings that sold in September has spent an average of just 52 days on the market.
The median sales price for houses in Albany County in September was $255,000. In Rensselaer County, it was $220,770; in Saratoga County, $323,844; and in Schenectady, $204,000.
So what does that buy, approximately, in the respective counties? Take a look and these recently sold houses.
149 Manning Blvd., Albany
Sale price, $240,000 List price: $240,000; Days on market ( before it was under contract): 3
Description: Two-story Colonial, built in 1911. 1,680 square feet, four bedrooms, one bathroom. Sunroom, fireplace, new kitchen, balcony off the main bedroom.
Seller's agent: Alex Monticello, Monticello Real Estate
10 Palmer Terrace, Wilton
Sale price: $328,000 List price: $319,900; Days on market ( before it was under contract): 7
Description: Two-story Colonial, built in 1984. 2,394 square feet, four bedrooms, two and a half bathrooms. Newly remodeled bathroom off largest bedroom.
Seller's agent: Christine Marchesiello, Keller Williams