Home sales drop 20% in Albany region The Business Review - by Michael DeMasi Date: Monday, March 21, 2011, 9:21am EDT
Home sales in the Albany, New York, region fell 20 percent in February, the eighth month in a row that sales declined compared to the previous year, according to preliminary figures released today. There were 350 closed sales during the month through the Capital Region Multiple Listing Service, compared to 435 in February 2010, according to the Greater Capital Association of Realtors.
GCAR covers 11 counties, but most sales are in Albany, Rensselaer, Saratoga and Schenectady counties. GCAR President Paul Semanek said February’s harsh winter weather likely kept many prospective buyers home. Even as total sales declined, the median price increased 1 percent to $185,500, and the average price rose 2 percent to $211,437. The median is the point at which half of the prices were greater and half were less. It is considered a better gauge of the overall market than the average.
“The slowly increasing sales prices points to sellers recognizing that buyers have the advantage right now but sellers also expect the market to turn fairly soon,” GCAR CEO James Ader said.
The preliminary results in the four main counties were: Albany: sales down 20 percent, median price up 1 percent to $187,800 Rensselaer: sales down 6 percent, median down 2 percent to $165,000 Saratoga: sales down 22 percent, median up 1 percent to $263,800 Schenectady: sales down 12 percent, median up 6 percent to $153,000
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
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