If you are looking in the city of Schenectady, property values are fairly stable at this time. In fact the prices in Schenectady are lower than other urban areas in the Capital District. Problem in Schenectady is the taxes. They are disproportinatelly higher than the property value so you usually get more house for the money but your payments will be a bit higher because of the tax bite. If you are looking in the suburban areas, you can find stable value in Rotterdam and Scotia/Glenville areas. Niskayuna, the highest priced suburb is experiencing some loss in value although the average price is much higher. Still worth looking at if you can afford the price. Hope this helps. I am a full service associate broker with 23 years of experience working for Weichert/Northeast. If I can be of any further assistance, feel free to get in touch.