Report Shows Stability in Albany Area Housing Market

Albany, New York (PressExposure) June 07, 2011 -- New figures on home sale prices show how affordable and stable the Albany, NY real estate market is compared to the rest of the country.

The median sale price between the 4th quarter of 2005 and the 4th quarter of 2010 increased 1.1% in the Capital Region, while nationally the median home price plunged 30.3 % during the same five year span - a period that includes the recession.

The change in home prices in the Albany area increased 0.2% during the 5-year span. The annualized change throughout the country showed a 7% decline.

The Capital Region Multiple Listing Service reports the median home price in the Albany, NY area was 2.5 times the median family income, compared to 2.8 times the median family income throughout the remainder of the United States.

The median sale price between the 4th quarter of 2005 and the 4th quarter of 2010 increased 1.1% in the Capital Region, while nationally the median home price plunged 30.3 % during the same five year span - a period that includes the recession.

The change in home prices in the Albany area increased 0.2% during the 5-year span. The annualized change throughout the country showed a 7% decline.

The median home price in the Albany, NY area was $190,000 in the 4th quarter, compared to $171,000 throughout the United States.

The change in home prices in the Albany area increased 0.2% during the 5-year span. The annualized change throughout the country showed a 7% decline.

The Capital Region Multiple Listing Service reports the median home price in the Albany, NY area was 2.5 times the median family income, compared to 2.8 times the median family income throughout the remainder of the United States.

The median home price in the Albany, NY area was $190,000 in the 4th quarter, compared to $171,000 throughout the United States.

Looking ahead to 2012, prices are expected to edge slightly higher locally, approximately 1.2 percent. Real estate agents in Albany continue to be optimistic about the stability in the market and the continuing low interest rates.

About Falvey Real Estate Group

Falvey Real Estate Group, Ltd.
427 New Karner Road
Albany, NY 12205
(518) 452-3912
http://www.falveygroup.com

Press Release Source: http://PressExposure.com/PR/Falvey_Real_Estate_Group.html

Press Release Submitted On: June 07, 2011 at 1:06 am
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