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Albany Real Estate Prices And Market Stats

  • 13 Total For Sale
  • 1 New Listings
  • 1 Price Change

There are currently 13 properties for sale and Albany real estate prices are between $475,000 and $1,795,000. The median price for homes that are currently for sale is $598,000. Homes are selling for about $670 per square foot. If you are serious about buying a home, we highly recommend setting up a market watch notification so you don't miss out.

Median Price

$598,000

$475,000
Lowest Priced

$1,795,000
Highest Priced

Avg Price/SQFT

$670

$457
Lowest

$1,151
Highest

Avg DOM

51

Albany Residential Real Estate Analysis

October 2019 VS. October 2018

Detached Homes

Unit Sales

6 Sales 0% (6)

Median Sales Price

$1,025,000 3% ($995,000)

Avg $/sqft

$848 6% ($797)

Average Days On Market

13 -38% (21)

Selling/listing Price

118% -2% (120%)

Condos

Unit Sales

6 Sales 200% (2)

Median Sales Price

$597,500 9% ($550,000)

Avg $/sqft

$560 19% ($469)

Average Days On Market

35 -48% (66)

Selling/listing Price

101% 5% (97%)

Townhomes

Insufficient Data To create Report

Albany Sales Rate (Absortion Rate)

This is a measure, in weeks, of how long it would take to sell all of the existing properties currently for sale in Albany based on the recent historic rate of sales. It is calculated by dividing the number of active listings by the run-rate of sales for properties in Albany over the last months years. It does not account for seasonal variance, which can be significant. Normally the run rate will accelerate in the spring/summer and slow down in the fall/winter. This means that in a "normal year" the trends will slightly over state the index in the spring/summer and understate it in the fall/winter. Basically, this measure attempts to place the current inventory into the context of whether it is a Buyer's, Seller's or Balanced market. Buyer's market is over 16 weeks and a seller's market is under 16 weeks.

Detached Homes

Sales per Week

2.33 sold/week

total Currently for sale

4

Absorption Rate

1.71 weeks

Condos

Sales per Week

1.25 sold/week

total Currently for sale

9

Absorption Rate

7.20 weeks

Townhomes

Sales per Week

0.00 sold/week

total Currently for sale

0

Absorption Rate

0.00 weeks

All

Sales per Week

3.58 sold/week

total Currently for sale

13

Absorption Rate

3.63 weeks

Albany Real Estate Price trends

Key Insights
  • The monthly median selling price is on a 3 month price trend where property prices have increased 20%

The real estate price trend chart shows the median selling prices for homes over time. A moving average (MA) is a widely used indicator in technical analysis that helps smooth out price action by filtering out the "noise" from random short-term price fluctuations. Use this chart with the inventory chart to determine if prices for homes will be going up or down.

Home Price Quartiles

Looking at the market in quartiles, where each quartile is 25% of home, ordered by price

Quartile Median Price Avg. Sqft Avg. DOM Avg Year Built New Listings Total Listings
Top/First $1,450,000 1,903 14 1934 0 11 Most Expensive 25% of properties
Upper/Second $1,160,000 1,309 14 1931 0 11 Upper-middle 25% of properties
Lower/Third $865,000 1,153 14 1958 0 11 Lower-middle 25% of properties
Bottom/Fourth $577,500 980 18 1976 0 10 Least expensive 25% of properties

Albany Price Per Square Foot Trends

The median and average square foot price trends. The square foot price is one of the best ways to get a good rough estimate of your homes worth.

Albany Home SQFT Price Quartiles

If you try to use the average cost per foot to determine the approximate fair market value (FMV) of another property, you should be careful to understand a few key issues. First, the cost per foot tends to decrease as properties increase in size. In other words, the most expensive homes in Albany, on a cost per foot basis, will tend to be the smallest properties. This is because economies of scale make larger properties less expensive on a cost per foot basis. You should adjust the cost per foot up or down if the subject property is smaller or larger than the average sized home in Albany. The Home SQFT Price Quartiles chart helps give you a better understanding of sqft price and home size.

Quartile (# Listings) Sqft Range Avg. Sqft Price Median Price Avg. DOM Avg Year Built
Largest 25% sqft (11) 1,552 - 2,932 $817 $1,450,000 14 1934
Upper-middle 25% sqft (11) 1,215 - 1,547 $770 $1,100,000 14 1951
Lower-middle 25% sqft (11) 1,050 - 1,212 $754 $925,000 14 1958
Smallest 25% sqft (10) 615 - 1,050 $763 $620,000 15 1953

Albany Real Estate Inventory - Monthly Active, Pending and Sold Activity

The real estate inventory chart shows the relations between the total number of properties that are listed each month, placed under contract each month (pending) and sold each month. This chart is good at determining the supply and demand of properties. When trying to find trends in home prices, I look at the number of the new home listings and the current price trends.

Date Median Price DOM Avg $/sqft Sales Ratio
Oct/2019 $787,000 14 $704 110.04%
Sep/2019 $799,000 14 $783 114.86%
Aug/2019 $999,000 15 $827 117.85%
Jul/2019 $839,000 16 $734 112.80%
Jun/2019 $829,000 15 $750 108.79%
May/2019 $824,000 14 $787 113.69%
Apr/2019 $725,000 14 $810 120.72%
Mar/2019 $834,500 14 $614 106.14%
Feb/2019 $887,500 12 $914 132.10%
Jan/2019 $849,900 17 $669 102.92%
Dec/2018 $649,000 31 $758 110.88%
Nov/2018 $798,000 14 $734 109.90%
Oct/2018 $862,000 16 $715 111.82%

Complete Residential Inventory

Below is all the properties currently for sale in Albany, sorted by number of bedrooms.

Condo

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
1 1 $475,000 $475,000 745 $637 $638
2 7 $525,000 $570,571 1,088 $471 $531
3 1 $879,000 $879,000 1,522 $577 $578
all 9 $525,000 $594,222 1,098 $519 $548

Detached - Single Family Homes

Bedrooms Active Listings Median Price Avg Price Avg Sqft Median Cost/foot Avg Cost/foot
2 2 $1,092,500 $1,092,500 1,162 $928 $928
4 1 $1,795,000 $1,795,000 1,560 $1,150 $1,151
5 1 $1,599,000 $1,599,000 2,075 $770 $771
all 4 $1,474,500 $1,394,750 1,490 $928 $944