Median home prices by city
Median home prices for the Capital Region, by year (stats from GCAR)
The Greater Capital Association of Realtors (GCAR, to its friends) recently started including breakdowns of home sales data by city in its monthly stats release. GCAR released the December numbers yesterday, so there's now data for all of 2009. We thought it'd be interesting to see how the median home prices in various cities and towns in the Capital Region stacked up for the year.
You might surprised by which city's median price increased the most. (Yep, there actually were a few increases.)
First, the breakdown by county:
And now by city/town:
Overall
For the entire Capital Region, GCAR reports that the median sales price was $192,500 in 2009 -- that's flat compared to 2008.
For December 2009, GCAR reports that the number of pending and closed sales were both up compared to December 2008. But the median sales price was still down 2.2 percent.
All data from GCAR
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Comments
As someone in the market for a home, I'm going to be waiting out this federal 8k tax credit nonsense. I think this graph really shows that housing prices are way too sticky in this area.
I think too many sellers are pitching the tax credit as a reason why they don't have to budge on their asking price, because "you're already getting this tax break"
... said Ike on Jan 26, 2010 at 12:13 PM | link
I think people in this area undervalue Troy. I moved here 10 years ago, fell in love w/ the city, and bought a home in the ghetto this year. I know some many other 'transplants' who love this city, but so many native Capital District peeps hate on Troy. And that's OK, I guess, I despise the 'burbs.
(I also think that graph is misleading, making that jump between 2005 and 2006 look ginormous.)
... said Kim M. on Jan 26, 2010 at 7:47 PM | link
I am really enjoying reading your site and I like Ike's comments - I never thought of sellers using the tax credit as a reason to not lower their price. Seems like a bit of idiotic way to sell a house if you aren't willing to compromise for a ready, willing and able buyer when you are paying a mortgage for a home you want, or most likely, NEED to sell. Yet I have met sellers who would not budge on price for any reason. And Kim - I love Troy too - the Farmer's Market alone is worth the price of admission!
... said Holli Boyd-White on Feb 2, 2010 at 2:29 PM | link