July 2019 Real Estate Market Update

by Zip Code for Saratoga County, NY

by Eli King Conklin for Roohan Realty | August 19, 2019 | LinkedIn

*Report includes Single Family, 2 Family & Multi-Family properties that closed between July 1-31. Excludes commercial properties, rentals & new construction. Source: GLOBALMLS

County Snapshot

August already?!

July saw 306 property transactions* with a median list price of $309,500, a median sale price of $305,000 and an average of 45 days on the market. The most common home style that sold was colonial, with ranch being a far second. The most popular # of bedrooms was three, and the most popular square footage bracket sold was 1,500-2,000 sqft.

Winners

The overall winners in Saratoga County last month were 12148/Rexford and 12833/Greenfield, each ranking as a top performing zip code in three of the four categories we track (detailed below).

Areas to watch are 12871/Schuylerville and 12850/Middle Grove, as both of these areas saw tightening inventory (year over year) alongside positive improvements in sale price and turnover rate.

Number of Listings Sold

The number of listings sold indicates the level of real estate activity in a given zip code. During the month of July, Clifton Park, Saratoga Springs and Ballston Spa had the most real estate transactions close. These cities were also the top three in June 2019.

Median Sale Price

The median sale price means that half of the homes sold were lower than that price, and half were higher. Homes in Rexford, Greenfield, and Saratoga Springs had the highest median sale prices last month:

Days on Market

Days on Market (“DOM”) is a measure of how long a home takes to sell and helps indicate demand of an area. Homes sold in Greenfield, Burnt Hills and Rexford had the fastest turnover last month:

Sale:List Price Ratio

The average sale to list price ratio is an indicator of whether homes in an area are selling above, at, or below their asking price. Scores above 100 mean homes sold above asking price; below 100 sold for less than list price. Homes in Rexford, Burnt Hills, and Greenfield were most likely to sell above asking price last month:

Performance Breakdown by Zip Code

12019: Ballston Lake, Country Knolls, Charlton

Listings sold: 21 (17% YoY)

Median sale price: $300,000 (no change)

Average # days on market: 34 (increased 325% YoY)

Sale-to-list price ratio: 98.83 / #4 of 20 (-0.39% YoY)

Featured 12019 listing:

12020: Ballston Spa, Malta

Listings sold: 47 (+18% YoY)

Median sale price: $287,000 (6% YoY)

Average # days on market: 44 (increased 13% YoY)

Sale-to-list price ratio: 98.57 /#5 of 20 (-1.07% YoY)

Featured 12020 listing:

12027: Burnt Hills

Listings sold: 4 (-20% YoY)

Median sale price: $260,000 (-32% YoY)

Average # days on market: 10 (decreased 52% YoY)

Sale-to-list price ratio: 100.73 / #2 of 20 (+3.5% YoY)

Featured 12027 listing:

12065: Clifton Park

Listings sold: 68 (+28% YoY)

Median sale price: $320,700 (+17% YoY)

Average # days on market: 29 (increased 38% YoY)

Sale-to-list price ratio: 98.51 / #6 of 20 (-0.66% YoY)

Featured 12065 listing:

12822: Corinth

Listings sold: 8 (-33% YoY)

Median sale price: $129,500 (+6% YoY)

Average # days on market: 88 (increased 28% YoY)

Sale-to-list price ratio: 95.18 / #16 of 20 (-0.39% YoY)

Featured 12822 listing:

12074: Galway

Listings sold: 5 (+150% YoY)

Median sale price: $139,900 (+38% YoY)

Average # days on market: 71 (decreased 60% YoY)

Sale-to-list price ratio: 91.37 / #19 of 20 (-6% YoY)

Featured 12074 listing:

12831: Gansevoort, Wilton, Kings Station, Gurn Spring, Fortsville

Listings sold: 24 (+26% YoY)

Median sale price: $331,000 (+27% YoY)

Average # days on market: 34 (increased 113% YoY)

Sale-to-list price ratio: 97.82 / #11 (-2% YoY)

Featured 12831 listing:

12833: Greenfield Center

Listings sold: 3 (no change)

Median sale price: $399,000 (+43% YoY)

Average # days on market: 5 (decreased 83% YoY)

Sale-to-list price ratio: 100.19 / #3 (+3% YoY)

Featured 12833 listing:

12835: Hadley

Listings sold: 7 (+133% YoY)

Median sale price: $330,000 (+40% YoY)

Average # days on market: 87 (decreased 48% YoY)

Sale-to-list price ratio: 97.48 / #14 (+6% YoY)

Featured 12835 listing:

12118: Mechanicville, Maltaville

Listings sold: 14 (-36% YoY)

Median sale price: $367,100 (+6% YoY)

Average # days on market: 70 (increased 59% YoY)

Sale-to-list price ratio: 97.61 / #13 (-0.76% YoY)

Featured 12118 listing:

12850: Middle Grove*

Note that only one home was sold here last month, therefore skewing YoY comparisons

Listings sold: 1 (-67% YoY)

Median sale price: $185,000 (+7% YoY)

Average # days on market: 32 (decreased 32% YoY)

Sale-to-list price ratio: 92.55 / #18 of 20 (+6% YoY)

Featured 12850 listing:

12859: Porter Corners

Listings sold: 2 (no change)

Sale price: $267,250 (-15% YoY)

# days on market: 86 (increased 121% YoY)

Sale-to-list price ratio: 94.56 / #17 of 20 (-4% YoY)

Featured 12859 listing:

12148: Rexford, Vischer Ferry

Listings sold: 7 (-50% YoY)

Median sale price: $525,000 (+49% YoY)

Average # days on market: 27 (decreased 10% YoY)

Sale-to-list price ratio: 101.40 / #1 of 20 (+2% YoY)

Featured 12148 listing:

12863: Rock City Falls

Listings sold: 0

Median sale price: N/A

Average # days on market: N/A

Sale-to-list price ratio: N/A

12151: Round Lake, Ushers

Listings sold: 0

Median sale price: N/A

Average # days on market: N/A

Sale-to-list price ratio: N/A

12866: Saratoga Springs

Listings sold: 61 (+7% YoY)

Median sale price: $378,000 (+2% YoY)

Average # days on market: 53 (increased 66% YoY)

Sale-to-list price ratio: 98.07 / #10 of 20 (-2% YoY)

Featured 12866 listing:

12871: Schuylerville

Listings sold: 4 (-33% YoY)

Median sale price: $278,750 (+19% YoY)

Average # days on market: 31 (decreased 35% YoY)

Sale-to-list price ratio: 98.39 / #8 of 20 (+0.25% YoY)

Featured 12871 listing:

12803: South Glens Falls

Listings sold: 8 (-47% YoY)

Median sale price: $200,000 (+19% YoY)

Average # days on market: 37 (increased 68% YoY)

Sale-to-list price ratio: 98.39 / #7 of 20 (-7% YoY)

12170: Stillwater, Bemis Heights

Listings sold: 6 (+50% YoY)

Median sale price: $217,450 (-6% YoY)

Average # days on market: 61 (decreased 53% YoY)

Sale-to-list price ratio: 98.32 / #9 of 20 (+0.76% YoY)

Featured 12170 listing:

12884: Victory Mills

Listings sold: 0

Median sale price: N/A

Average # days on market: N/A

Sale-to-list price ratio: N/A

12188: Waterford, Halfmoon, Crescent

Listings sold: 6 (-45% YoY)

Median sale price: $260,200 (+15% YoY)

Average # days on market: 52 (increased 41% YoY)

Sale-to-list price ratio: 96.77 / #15 of 20 (+3% YoY)

12134: Edinburg, Northville*

Note that only one home was sold here last month, therefore skewing YoY comparisons

Listings sold: 1 (-50% YoY)

Median sale price: $224,000 (-18% YoY)

Average # days on market: 38 (increased 46% YoY)

Sale-to-list price ratio: 97.82 / #12 of 20 (+3% YoY)

Featured 12134 listing:

July 2019 Real Estate Market Update for Saratoga County

July 2019 Real Estate Market Update