October 2019 Real Estate Market Update
by Zip Code for Saratoga County, NY
by Eli King Conklin for Roohan Realty | November 11, 2019 | LinkedIn
*Report includes Single Family, 2 Family & Multi-Family properties that closed between October 1-31. Excludes commercial properties, rentals & new construction. Source: GLOBALMLS
County Snapshot*
October saw 242 property transactions (+5% YoY) with a median list price of $273,200 (+1% YoY), a median sale price of $270,000 (+3% YoY) and an average of 56 days on the market (22% increase YoY).
Winners
The overall winners in Saratoga County last month were 12866/Saratoga Springs and 12871/Schuylerville. Saratoga Springs performed well for total listings sold and a median sale price of $470,000 – a 48% increase year-over-year. Schuylerville had only 5 homes move last month but had a drastic 88% reduction in average days on market compared to last year and homes there were likely to sell over asking price.
12050/Middle Grove may be an area to watch as there was modest inventory available alongside otherwise positive improvements in median sale price ($188,000/+14% YoY), sale-to-list price ratio (94.39/+.07% YoY), and average days on market (52/down 60% YoY).
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 October, Clifton Park, Saratoga Springs and Ballston Spa 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 Saratoga Springs, Gansevoort 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 Schuylerville, Stillwater, and Burnt Hills 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 Galway, Burnt Hills, Schuylerville and Rexford sold – on average – above their asking price during the month of October:
Performance Breakdown by Zip Code
12019: Ballston Lake, Country Knolls, Charlton
Listings sold: 27 (-4% YoY)
Median sale price: $279,000 (+5% YoY)
Average # days on market: 42 (increased 31% YoY)
Sale-to-list price ratio: 98.14 / #9 of 19 (-1.34% YoY)
Featured 12019 listing:
12020: Ballston Spa, Malta
Listings sold: 30 (-14% YoY)
Median sale price: $218,450 (-14% YoY)
Average # days on market: 42 (increased 20% YoY)
Sale-to-list price ratio: 99.04 /#6 of 19 (+1.14% YoY)
Featured 12020 listing:
12027: Burnt Hills
Listings sold: 1 (-75% YoY)
Median sale price: $206,000 (-12% YoY)
Average # days on market: 18 (increased 20% YoY)
Sale-to-list price ratio: 103.00 / #2 of 19 (+2.22% YoY)
12065: Clifton Park
Listings sold: 50 (+2% YoY)
Median sale price: $283,500 (-6% YoY)
Average # days on market: 59 (increased 79% YoY)
Sale-to-list price ratio: 97.76 / #12 of 19 (+0.03% YoY)
12822: Corinth
Listings sold: 11 (+175% YoY)
Median sale price: $134,900 (+26% YoY)
Average # days on market: 94 (increased 77% YoY)
Sale-to-list price ratio: 96.83 / #14 of 19 (-6.44% YoY)
Featured 12822 listing:
12074: Galway
Listings sold: 8 (+14% YoY)
Median sale price: $217,450 (-4% YoY)
Average # days on market: 54 (decreased 43% YoY)
Sale-to-list price ratio: 119.22 / #1 of 19 (+20.67% YoY)
Featured 12074 listing:
12831: Gansevoort, Wilton, Kings Station, Gurn Spring, Fortsville
Listings sold: 11 (-27% YoY)
Median sale price: $318,750 (+28% YoY)
Average # days on market: 70 (increased 21% YoY)
Sale-to-list price ratio: 97.87 / #10 of 19 (-2.11% YoY)
Featured 12831 listing:
12833: Greenfield Center
Listings sold: 2 (-50% YoY)
Median sale price: $200,000 (+4% YoY)
Average # days on market: 106 (increased 147% YoY)
Sale-to-list price ratio: 70.49 / #19 of 19 (-27.49% YoY)
Featured 12833 listing:
12835: Hadley
Listings sold: 5 (-55% YoY)
Median sale price: $175,000 (+11% YoY)
Average # days on market: 88 (increased 184% YoY)
Sale-to-list price ratio: 91.23 / #17 of 19 (-3.42% YoY)
Featured 12835 listing:
12118: Mechanicville, Maltaville
Listings sold: 13 (+30% YoY)
Median sale price: $305,000 (-24% YoY)
Average # days on market: 64 (decreased 11% YoY)
Sale-to-list price ratio: 99.16 / #5 of 19 (+2.46% YoY)
Featured 12118 listing:
12850: Middle Grove
Listings sold: 3 (+25% YoY)
Median sale price: $188,000 (+14% YoY)
Average # days on market: 52 (decreased 60% YoY)
Sale-to-list price ratio: 94.39 / #16 of 19 (+0.07% YoY)
Featured 12850 listing:
12859: Porter Corners
Listings sold: 2 (no change)
Sale price: $190,375 (+22% YoY)
# days on market: 79 (increased 44% YoY)
Sale-to-list price ratio: 88.23 / #18 of 19 (-1.45% YoY)
Featured 12859 listing:
12148: Rexford, Vischer Ferry
Listings sold: 4 (+100% YoY)
Median sale price: $289,750 (-15% YoY)
Average # days on market: 30 (decreased 47% YoY)
Sale-to-list price ratio: 100.08 / #4 of 19 (+1.59% 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: 37 (-10% YoY)
Median sale price: $470,000 (+78% YoY)
Average # days on market: 65 (increased 25% YoY)
Sale-to-list price ratio: 97.06 / #13 of 19 (-0.26% YoY)
Featured 12866 listing:
12871: Schuylerville
Listings sold: 5 (+67% YoY)
Median sale price: $175,500 (no change)
Average # days on market: 14 (decreased 88% YoY)
Sale-to-list price ratio: 100.23 / #3 of 19 (+3.53% YoY)
Featured 12871 listing:
12803: South Glens Falls
Listings sold: 13 (+160% YoY)
Median sale price: $208,000 (no change)
Average # days on market: 27 (decreased 45% YoY)
Sale-to-list price ratio: 98.97 / #7 of 19 (+0.34% YoY)
12170: Stillwater, Bemis Heights
*Note: no listings were sold in this area during October 2018
Listings sold: 7
Median sale price: $249,900
Average # days on market: 16
Sale-to-list price ratio: 98.79 / #8 of 19
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: 10 (+100% YoY)
Median sale price: $249,500 (+14% YoY)
Average # days on market: 74 (increased 155% YoY)
Sale-to-list price ratio: 97.86 / #11 of 19 (-1.07% YoY)
12134: Edinburg, Northville
Listings sold: 11 (+57% YoY)
Median sale price: $166,000 (+4% YoY)
Average # days on market: 74 (increased 111% YoY)
Sale-to-list price ratio: 96.31 / #15 of 19 (+6.10% YoY)
Featured 12134 listing:
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