One question Realtors are frequently asked is, "How's the market?” Below is an overview of the market in the Capital Region of New York. It considers the third quarter of 2008, wrought with the meltdown of the financial markets, compared with the same period in 2009.
The statistics bear out that the number of pending units has increased substantially - 8.25% in the 4-County Area (Albany, Rensselaer, Saratoga & Schenectady). Albany County led the region with an increase of 12.23% in pending units. The good news to pass along is that there is robust activity and buyers are no longer on the sidelines. That's good news for people who are considering selling. The good news for buyers is that interest rates remain at near historic lows!