Capital Region core counties

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Capital Region median home prices 2012

real estate sign porchThe number of homes sold in the Capital Region took a big jump in 2012 compared to the year before, according to stats out this week from the Greater Capital Region Association of Realtors. The number of closed sales across the region increased 15 percent, the first increase in years.

Median prices were also up, but the increase was smaller. The median price across the region was up 4 percent, to $192,000.

Here's GCAR's report for 2012. The average number of days it took for a house to sell last year was 98, down from 102 in 2011. And this past December, "inventory" -- the number of homes for sale -- hit its lowest point since 2008, as did "months of inventory."

GCAR also provides breakouts for individual counties and a group of cities/towns. We've collected those 2012 numbers in an quick-scan table post jump.

The table is embedded at the top of the page. Scroll all the way up.

For a little bit more context, we've included median sale prices from 2008.

The six county region included in GCAR's total numbers includes Albany, Montgomery, Saratoga, Schenectady, Schoharie, Rensselaer, and Washington counties. We've broken out the four core counties above.

All numbers via GCAR.

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Much of Albany is still unofficially redlined. Arbor Hill, West Hill, parts of the South End in particular are. While official redlining is now illegal, prospective property buyers in, for example, Arbor Hill must deal with a lot more impediments when they seek to purchase property. Banks and insurance companies may force them to pay extra fees with extra paperwork. They may require a bigger downpayment, a higher interest rate, a higher credit score, and even additional cosigners even if the buyer has significant income. It's depressing the market in those areas significantly.

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