2021 home sales, construction off to strong start in Capital Region | The Daily Gazette
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A sale is pending on this house on Crescent Avenue in Amsterdam.
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CAPITAL REGION Demand remains strong and supply remains limited in the Capital Region housing market, and prices are rising as a result.
Local Realtors closed sales on 18% more houses in the first two months of 2021 than in the same two months of 2020, despite January and February traditionally being among the slowest sales months. And the median sale price for those houses was 14% higher year over year.
March statistics aren’t finalized, but indications are that the trend continued from the previous two months, the regional trade association for Realtors said Friday.
CAPITAL REGION, N.Y. â As the Capital Regionâs vaccination rate increased in February, area home sales followed suit, according to a recent report from the Greater Capital Association of Realtors.
Closed sales increased 24 percent from February 2020 to 867 for the month, with the City of Albany faring particularly well, improving sales by 66 percent over last February.
Sales are a mixed bag across the country, the report said, not because of a lack of demand, which is strong, but because there just aren t enough homes to go around.
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New listings in the Capital Region fell 25 percent to 925 for the month of February.
February numbers show hot local real estate market timesunion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesunion.com Daily Mail and Mail on Sunday newspapers.
CAPITAL REGION, N.Y. — Strong buyer demand continues among the Capital Region real estate market, according to the latest report from the Greater Capital Association of Realtors.
Residential real estate market shows no signs of slowing
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Laura Burns, CEO, Greater Capital Association of Realtors (Provided)
Housing inventory in the region is at a record low at 2.2 months, but there was still a 9% increase in closed sales in January compared to the same month in 2020.
“As long as interest rates continue to remain low and inventory scarce, there will most likely be multiple buyers for appropriately priced homes. Realtors will to continue navigate sellers through multiple offers with, ultimately, one contract being made while disappointing several others,” said Jeffrey Decatur of Re/Max Capital and the 2021 president of the Greater Capital Association of Realtors (GCAR).