Albany, NY Home Values & Market Trends
Real estate market trends reflect that there have been 429 transactions over the past year in Albany. The median value for residential home transactions that occurred over the previous year is $263,548.03. The number of current listings in Albany is 140, and the percentage of properties for sale in the city is 140.00%. Albany, NY currently has 483 properties in foreclosure, 9 bank owned properties, 10 properties headed for auction, and 140 properties for sale.
Albany, NY Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 12205 | $ 299,900 $ 237/sqft | 12202 | $ 114,900 $ 45/sqft |
| 12203 | $ 330,067 $ 185/sqft | 12210 | $ 160,700 $ 68/sqft |
| 12206 | $ 130,100 $ 71/sqft | 12204 | $ 211,555 $ 175/sqft |
| 12208 | $ 331,000 $ 166/sqft | 12207 | $ 76,971 $ 87/sqft |
| 12209 | $ 217,750 $ 154/sqft | 12222 | $ -- $ -- |
| 12211 | $ 520,000 $ 215/sqft | 12226 | $ -- $ -- |
Housing Market Summary for Albany, NY
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $220K | $258.5K | 17.52% |
| Median Sold Price | $235.8K | $258.5K | 9.66% |
| Homes For Sale | 179 | 122 | -31.84% |
| Homes Sold | 259 | 191 | -26.25% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
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Browse Homes in Albany, NY
Albany home values range from $20,700 to $7,128,501. The median estimated value of a home in Albany is $263,548.03. The median list price of a home is 249,950, and the total count of properties in the city is 32,710.
- Pre-ForeclosurePre-foreclosure homes account for 1.42% of all residential properties in Albany, NY with 12205 containing 132 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 12 zips within Albany, NY; of those zips, the estimated home value for pre-foreclosure homes ranges from $967,885 in 12211 to the lowest home value of $24,230 in 12210.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Albany, NY ranges from the highest value of $683,580 in 12205 to the lowest value of $30,051 in 12204. Bank owned homes and properties account for 0.03% of properties in Albany, NY. There are 12 zips within Albany, NY; 12204 containing 5 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions12203 has 3 auction properties, the highest number of properties going to auction in a single zip in the state of Albany, NY. Auction homes and other auction properties account for 0.03% of all properties in Albany, NY. There are 12 zips within Albany, NY; of those zips, the median estimated home value for homes going to auction ranges from $391,862 in 12211 to the lowest value of $54,923 in 12211.
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Guide for Albany, NY
The Albany real estate market from April 2023 to March 2024 showed a clear positive trend, with rising property values and sale prices offset by fluctuating property counts.
The real estate market in Syracuse, New York is experiencing a surge in property values and sale prices, with homes typically selling above their listed prices.
Amid rapid fluctuations in the Rochester real estate sector, a steady increase in the average sale price per square foot has been observed from March 2023 to February 2024. Surrounding cities like East Rochester, Webster, Penfield, Spencerport, and West Henrietta have experienced unique trends, providing a diverse regional real estate climate.
New York City’s real estate market from August 2023 to January 2024 witnessed roughly an 8% increase in average property values, along with fluctuations in per square foot values and sold prices.
