September 2019 Real Estate Market Update

by Zip Code for Saratoga County, NY

by Eli King Conklin for Roohan Realty | October 14, 2019 | LinkedIn

*Report includes Single Family, 2 Family & Multi-Family properties that closed between September 1-30. Excludes commercial properties, rentals & new construction. Source: GLOBALMLS

County Snapshot*

September saw 217 property transactions (+3% YoY) with a median list price of $289,500 (+1% YoY), a median sale price of $285,000 (+0.33% YoY) and an average of 47 days on the market (7% increase YoY).

Winners

The overall winners in Saratoga County last month were 12065/Clifton Park, 12118/Mechanicville, and 12833/Greenfield – each of these zip codes showed improvements in median sale price and list:sale price ratio alongside decreases in average # of days on the market for September year over year.

12170/Stillwater may be an area to watch as there were 43% fewer listings available year-over-year, alongside positive improvements in median sale price and sale-to-list price ratio (+28% and +3.01% respectively), possibly indicating more demand due to lack of inventory. Stillwater homes sold in September did, however, stay on the market longer than those sold during September of 2018.

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 September, Clifton Park, Ballston Spa and Saratoga Springs had the most real estate transactions close. These cities have been the top three since June.

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 Greenfield, Saratoga Springs and Mechanicville 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 Round Lake, Greenfield and Schuylerville 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 Round Lake, Corinth, Porter Corners and Rexford sold – on average – above their asking price during the month of September:

Performance Breakdown by Zip Code

12019: Ballston Lake, Country Knolls, Charlton

Listings sold: 21 (+163% YoY)

Median sale price: $305,000 (+2% YoY)

Average # days on market: 40 (increased 167% YoY)

Sale-to-list price ratio: 97.95 / #9 of 20 (+1.07% YoY)

Featured 12019 listing:

12020: Ballston Spa, Malta

Listings sold: 37 (+28% YoY)

Median sale price: $265,000 (-5% YoY)

Average # days on market: 37 (decreased 12% YoY)

Sale-to-list price ratio: 96.95 /#13 of 20 (-2.91% YoY)

Featured 12020 listing:

12027: Burnt Hills

Listings sold: 7 (no change)

Median sale price: $304,900 (+28% YoY)

Average # days on market: 50 (increased 22% YoY)

Sale-to-list price ratio: 97.92 / #10 of 20 (-2.21% YoY)

Featured 12027 listing:

12065: Clifton Park

Listings sold: 44 (-6% YoY)

Median sale price: $303,350 (+9% YoY)

Average # days on market: 43 (decreased 9% YoY)

Sale-to-list price ratio: 98.53 / #8 of 20 (+0.81% YoY)

Featured 12065 listing:

12822: Corinth

Listings sold: 9 (no change YoY)

Median sale price: $144,220 (-9% YoY)

Average # days on market: 62 (increased 158% YoY)

Sale-to-list price ratio: 102.42 / #2 of 20 (+3.63% YoY)

Featured 12822 listing:

12074: Galway

Listings sold: 3 (-50% YoY)

Median sale price: $180,000 (-14% YoY)

Average # days on market: 45 (increased 13% YoY)

Sale-to-list price ratio: 96.80 / #14 of 20 (-2.06% YoY)

Featured 12074 listing:

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

Listings sold: 16 (no change)

Median sale price: $285,900 (-9% YoY)

Average # days on market: 48 (increased 7% YoY)

Sale-to-list price ratio: 99.05 / #5 of 20 (+2.25% YoY)

Featured 12831 listing:

12833: Greenfield Center

Listings sold: 3 (+50% YoY)

Median sale price: $625,000 (+132% YoY)

Average # days on market: 14 (decreased 55% YoY)

Sale-to-list price ratio: 97.84 / #11 of 20 (+1.47% YoY)

Featured 12833 listing:

12835: Hadley

Listings sold: 5 (+25% YoY)

Median sale price: $183,000 (-27% YoY)

Average # days on market: 128 (increased 103% YoY)

Sale-to-list price ratio: 90.86 / #20 of 20 (-2.04% YoY)

Featured 12835 listing:

12118: Mechanicville, Maltaville

Listings sold: 7 (-56% YoY)

Median sale price: $347,625 (+30% YoY)

Average # days on market: 29 (decreased 42% YoY)

Sale-to-list price ratio: 97.64 / #12 of 20 (+0.50% YoY)

Featured 12118 listing:

12850: Middle Grove*

*Note that only one listing sold during September 2018, affecting year-over-year results.

Listings sold: 3 (+200% YoY)

Median sale price: $275,000 (-2% YoY)

Average # days on market: 36 (increased 500% YoY)

Sale-to-list price ratio: 98.72 / #7 of 20 (-3.56% YoY)

Featured 12850 listing:

12859: Porter Corners*

*Note that only one listing sold during September 2019.

Listings sold: 1 (-50% YoY)

Sale price: $265,000 (+56% YoY)

# days on market: 124 (increased 629% YoY)

Sale-to-list price ratio: 102.31 / #3 of 20 (+1.95% YoY)

Featured 12859 listing:

12148: Rexford, Vischer Ferry

Listings sold: 5 (-38% YoY)

Median sale price: $295,000 (-25% YoY)

Average # days on market: 53 (decreased 12% YoY)

Sale-to-list price ratio: 100.02 / #4 of 20 (+4.51% 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*

*Note that only one listing sold during September 2019 & 2018.

Listings sold: 1 (no change)

Median sale price: $206,000 (+47% YoY)

Average # days on market: 7 (+17% YoY)

Sale-to-list price ratio: 103.51 / #1 of 20 (+3.51% YoY)

12866: Saratoga Springs

Listings sold: 35 (+9% YoY)

Median sale price: $415,000 (+23% YoY)

Average # days on market: 48 (decreased 25% YoY)

Sale-to-list price ratio: 96.44 / #15 of 20 (-1.22% YoY)

Featured 12866 listing:

12871: Schuylerville

Listings sold: 2 (no change)

Median sale price: $319,950 (+23% YoY)

Average # days on market: 15 (increased 15% YoY)

Sale-to-list price ratio: 94.59 / #17 of 20 (-6.36% YoY)

Featured 12871 listing:

12803: South Glens Falls

Listings sold: 8 (+167% YoY)

Median sale price: $183,850 (-12% YoY)

Average # days on market: 39 (increased 86% YoY)

Sale-to-list price ratio: 94.55 / #18 of 20 (-6.11% YoY)

12170: Stillwater, Bemis Heights

Listings sold: 4 (-43% YoY)

Median sale price: $249,750 (+28% YoY)

Average # days on market: 49 (increased 29% YoY)

Sale-to-list price ratio: 98.96 / #6 of 20 (+3.01% 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: 11 (+10% YoY)

Median sale price: $224,000 (-25% YoY)

Average # days on market: 49 (increased 29% YoY)

Sale-to-list price ratio: 95.32 / #16 of 20 (-4.28% YoY)

12134: Edinburg, Northville

Listings sold: 5 (+25% YoY)

Median sale price: $243,000 (+32% YoY)

Average # days on market: 178 (increased 5% YoY)

Sale-to-list price ratio: 92.61 / #19 of 20 (-3.60% YoY)

Featured 12134 listing:

September 2019 Real Estate Market Update for Saratoga County

September 2019 Real Estate Market Update