There were 1,641 new listings on the market in May, up from 1,332 in April, but new listings are down 8.2 percent from May 2021. However, more new listings came on the market last month than in any other month since August 2021.
The median sales price, region-wide, is $279,000, about 11 percent more than last year. The median sales price in April was $257,500.
The number of homes for sale was down 42.5 percent compared to this time last year.
Pending sales decreased 13% from May 2021 to 1,299 for the month and 1,296 in April.
“The reduction in some of last month’s numbers is the result more of the continued lack of inventory rather than the increase in the historically low interest rates,” said Laura Burns, CEO of the Greater Capital Association of Realtors.
“Any increase in inventory is positive news, especially during the summer months,” said Kendal Baker, owner of Markers Octagon Realty and president of GCAR.
Albany County: 332 pending sales; 365 new listings; 179 closed sales; median sale price, $285,000.
Rensselaer County: 178 pending sales; 211 new listings; 123 closed sales; median sale price: $246,000.
Saratoga County: 322 pending sales; 424 new listings; 219 closed sales; median sale price: $404,821.
Schenectady County: 163 pending sales: 169 new listings; 133 closed sales; median sale price: $237,500.
