Are buyers active in Albany?

Are buyers active in Albany? Here's a look at the latest numbers. There are quite a few homes going under contract right now, suggesting buyers are indeed active. However, the pending ratio has decreased a bit, meaning a slightly smaller share of homes are going pending compared to before. Currently, 143 homes are pending sale. This shows that buyers are making offers and moving forward with purchases. Homes are finding buyers. However, the share of homes going under contract, known as the pending ratio, is 0.28. This is down by 3.1% compared to a year ago. It means that relative to the total homes available, a slightly smaller portion is going pending now. New listings are coming onto the market, with 148 new homes recently listed. This is a 5.7% increase from the prior year, giving buyers more options. With 143 homes going pending, it shows that buyers are absorbing nearly all the new inventory. Homes are staying on the market for a median of 64 days. This is a 5.0% increase compared to a year ago, suggesting that homes might be taking a little longer to sell than they were. Overall, buyers are definitely present in Albany, actively putting homes under contract. They are keeping pace with new inventory, but homes are taking a bit longer to sell, so buyers might have a little more time to make decisions.