Albany-Schenectady-Troy, NY

The high pending ratio underscores an environment where demand is exerting substantial pressure on available inventory. This dynamic typically necessitates swift decision-making from prospective buyers to secure properties. Properties are likely to transact at a relatively rapid pace, and there is less scope for extended negotiations or significant price reductions. Price discipline is likely to be maintained as a result of inventory absorption.

The average listing price has declined by 2.2% year-over-year, while the median listing price increased by 1.1%, suggesting some softening within higher price tiers. This is further supported by the median price per square foot increasing at a faster rate (3.9%) than the average listing price, potentially indicating slower appreciation or even depreciation at the top of the market. While median square footage has been stable, the widened spread between average and median pricing warrants attention for the luxury segment. No distinct luxury-segment signal in this dataset.

1,206 active listings represent the current floor, with new supply arriving at roughly 932 per month.

of active listings carry a price reduction, +0.2% from prior period.

Median price per square foot has moved +3.9% year-over-year.

Pending-to-active ratio — Very Competitive.