Home sales spring forward

Here are the February median home sales prices for the four core counties of the Capital Region, as reported by GCAR.

Both sales prices and the number of closed sales were up compared to February 2009. Prices were more or less the same compared to January 2010 -- except in Rensselaer County where they were up about 9 percent (these monthly snapshots of the market should be taken a few grains of salt because of smaller pool of data).

The "months supply of inventory" (the number of active listings available to the average monthly pending sales for the last twelve months) for the Greater Capital Region (which includes Schoharie and Washington counties) was 9.7 -- which is still pretty high when compared to five years ago (page 10).

It'll be interesting to see how things shake out as we head into the prime home buying season. We've noticed "for sale" signs popping up all over the last few weeks.

Earlier on AOA:
+ Median home prices by city for 2010
+ Our housing market is overvalued?
+ Lots of houses

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