How competitive is the Albany housing market?

The Albany housing market is moderately competitive right now. While prices have increased, there are more homes available than there were last year, and they are staying on the market a little longer. The median listing price in Albany is $209,500. This is up 6.1% compared to a year ago, and it also increased by 4.8% from the previous month. This shows that home values are still climbing in the area. Right now, there are 518 active listings, which is 20.5% more homes on the market than there were at this time last year. This increase in available homes gives buyers more options to choose from. Homes are taking a median of 64 days to sell, which is a 5.0% increase in the time they spend on the market compared to a year ago. This suggests that the pace of sales has slowed down slightly. About 17.9% of homes have had their prices reduced, which is a small increase of 1.2% from last year. This can be a good sign for buyers looking for potential deals. If you are considering buying in Albany, you have more homes to look at and a bit more time to make a decision compared to last year. If you are selling, pricing your home strategically is important.