Capital District Home Sales

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Wayne_R

February 2009 reports on the real estate market. Prices down, but deals are up!

Immobilien Business

Selling or Buying a House Don’t Speculate! Make an informed Real Estate Decision Wayne Richard Associate Broker O. 518-459-4564 F. 518-459-1498 C. 518-209-1572 [email_address]

Market Pulse Sales Prices February YTD 2009 The average price of an existing single family home is down 8% from the same time last year. This is based on closed transactions.

Market Pulse Monthly Trend There are two key points here in this graph. First, the yellow line is “pending sales”. These are new contracts written, new deals made. It is a great measure of actual activity THIS month. You’ll note it has grown nicely in February. The actual deal closing takes 6-8 weeks and that data won’t appear in other news for that long, so you are ahead of the news curve here! Second , the red line is inventory. It has remained relatively flat for three months. If deal activity is increasing and inventory stays flat, then demand is considered up.

eNews from The Richard Realty Report Stay informed about the LOCAL Real Estate Market. Get the monthly news emailed to you. Free! No obligation. Send an email to WayneR@AlbanyRealtyGroup.com ,[object Object],[object Object],[object Object],[object Object],[object Object]

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Capital District Home Sales

1. Selling or Buying a House Don’t Speculate! Make an informed Real Estate Decision Wayne Richard Associate Broker O. 518-459-4564 F. 518-459-1498 C. 518-209-1572 [email_address]

2. Market Pulse Sales Prices February YTD 2009 The average price of an existing single family home is down 8% from the same time last year. This is based on closed transactions.

3. Market Pulse Monthly Trend There are two key points here in this graph. First, the yellow line is “pending sales”. These are new contracts written, new deals made. It is a great measure of actual activity THIS month. You’ll note it has grown nicely in February. The actual deal closing takes 6-8 weeks and that data won’t appear in other news for that long, so you are ahead of the news curve here! Second , the red line is inventory. It has remained relatively flat for three months. If deal activity is increasing and inventory stays flat, then demand is considered up.