May Monthly Market Update

Here is summary of what happened in May 2015 single family resale homes in the four primary counties. Pending units were up by 3.3% compared to April. The absorption rate is up­this month to a 4.9 month supply. This is due to the fact that pending sales were up by 3.3% however, the current inventory jumped by 14% to 3922 available homes for sale. The overall year to date appreciation rate is now a positive 1.6% using the median sale price of $188,000 for all four counties. Saratoga county is leading the way with a 3.3% appreciation rate using a median sale price of $244,500. Closed sales for all­four counties are up by 3.1% so far this year as compared to last year. Sellers listing their homes at market price took 53 days on average to receive an acceptable offer for the month of May. Price reductions jumped to 1310 for the month. There were 806 pending sales in May. Is your sellers home priced correctly­ The average list to sale price for the year so far is 96.5% --That’s the way it was for May 2015.

Christine Frith

Christine Frith

Licensed Real Estate Salesperson
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