It is hard to believe but the first half of 2010 is already in the books!Â The Clancy Real Estate Team has just finished compiling the sales data and it can be found at this linkÂ Clancy Real Estate Albany NY Real Estate Market Trends ReportÂ The data includes single family homes sales in the four county area of Albany, Saratoga, Rensselaer, and Schenectady Counties.Â Â For the first 6 months of 2010 Almost 3,000 (2,945)Â homes were sold. This puts usÂ on track forÂ priorÂ Total volume in number of units similar to prior years. The interesting fact is I have been hearing RealtorÂ after Realtor say they have not seen anÂ impact from the $8,000 tax credit. I have been saying the opposite. Probably 95% of our sales for the first half of 2010 have involved buyers taking advantage of the tax credit. We closed aÂ dozen homes the 14 days prior to 6/30/10 when the deadline wasÂ set toÂ expire (Before congress extended it)Â We even closed oneÂ at 5:30pm on 6/30/10!
If you look at the data, 85% of the home sales for the first half of 2010 have been under $300,000. Clearly first time home buyer territory and clearly the $8,000 credit had a huge impact on home sales!
Homes over $300,000 continue to be a buyers market and continue to sit on the market with 12-32 months worth of inventory at the current absorption rates!
If you have questions on this data please call or email us anytime! We love to talk about real Estate!
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