The Saratoga Real Estate Report

Week in Review

Saratoga Real Estate Market

Home sales were up last week with forty-five homes in Saratoga County selling. The average sales price was $270,074 and the median sales price was $230,000. The average home sold for 96% of list price. The mean and median days-on-market were 63 and 42 days, respectively.

For a second consecutive week, the most expensive home sold was not in Saratoga Springs. This week's highest priced selling home is in Greenfield Center. Sold for $980,000, this 19^th century farmhouse sits on 70 acres and features six bedrooms, five baths and 3400 square feet.

Thirty-one homes in Saratoga County went under contract last week. The mean and median days-on-market were 105 and 69 days, respectively. Forty-one new homes were listed for sale, not including new construction. The mean and median list prices are $246,628 and $225,000.

Saratoga Springs Real Estate Market

Four homes in Saratoga Springs sold this past week. The mean and median prices were $283,270 and $159,000.

Clifton Park Real Estate Market

Thirteen homes in Clifton Park were sold last week. The mean sale price was $252,536 and the median sale price was $235,000.

Week in Review

Saratoga Real Estate Market

Last week, thirty-two homes in Saratoga were sold. The average sales price was $326,907. The median sales price was $236,750. The median home sold for 97% of its list price. The mean and median days-on-market were 90 and 43 days, respectively.

For a change, the highest priced home to sell was not in Saratoga Springs this week. It was in Edinburg, directly on Sacandaga Lake, with 120 feet of shoreline. The home features four bedrooms, four full baths, two half-baths and measures 5000 square feet. The home sits on 1.6 acres.

Thirty-two homes in Saratoga County went under contract last week. The mean and median days-on-market were 71 and 41 days, respectively. During that same period, seventy-three new homes in Saratoga, not including new construction, came on the market. The mean and median list prices are $309,072 and $249,900.

Saratoga Springs Real Estate Market

Three homes in Saratoga Springs sold last week. The mean and median sales prices were $388,000 and $400,000, respectively.

Clifton Park Real Estate Market

Nine homes in Clifton Park were sold last week. The mean and median sales prices were $293,977 and $275,001, respectively.

Week in Review

Saratoga County Real Estate Market

Last week, thirty-three homes in Saratoga County were sold. The average sales price was $279,188 and median sales price was $247,597. The mean and median days-on-market were 82 and 20 days, respectively. At 20 days, the median days-on-market was unusually low last week, but most likely just an anomaly for the week. The median home sold for 97% of list price.

Once again, the highest priced sale of the week took place in Saratoga Springs. The home is yet to be built, so I can't give you the details. The highest priced resale also took place in Saratoga Springs, selling for $600,000. The home features four bedrooms 2.5 baths, 2400 square feet, just under 2.5 acres and direct access to Saratoga Lake.

Forty-nine homes in Saratoga County went under contract during the week. The mean and median days-on-market were 82 and 72 days. Eighty-four homes were listed for sale in Saratoga during the week. The mean list price was $318,863 and the median price was $280,400.

Saratoga Springs Real Estate Market

Five homes in Saratoga Springs sold last week. The mean and median prices were $280,886 and $200,000, respectively.

Clifton Park Real Estate Market

Five homes in Clifton Park sold last week as well. The mean and median prices were $352,064 and $359,900, respectively.

Week in Review

Saratoga County Real Estate Market

Last week, thirty homes in Saratoga County were sold. The average and median sale prices were $303,402 and $283,337. The average and median days-on-market were 69 and 38 days.

Once again, Saratoga County's most expensive sale took place in Saratoga Springs. Located on Railroad Place, the condo pictured below sold for $825,000. It has two bedrooms, two baths and 2000 square feet. Not a bad view either.

Thirty-one homes in Saratoga County went under contract in the past week, with the average and median days-on-market being 63 and 43 days respectively. During the same period, fifty homes were listed for sale, not including new construction. The average list price was $317,672 and the median list price was $262,000.

Saratoga Springs Real Estate Market

Six homes in Saratoga Springs were sold last week. The average price was $450,878 and the median price was $441,250.

Clifton Park Real Estate Market

Eight homes in Clifton Park were sold. The average and median prices were $272,875 and $266,000, respectively.

The Week in Review

Once again, this installment of The Week in Review will cover the past two weeks. Things will return to normal starting next week.

Saratoga County Real Estate Market

For the two week period ending on August 29^th, seventy-eight homes in Saratoga County were sold. The average sale price for a home in Saratoga was $291,527 and median price was $245,000. The mean and median days-on-market was 77 and 54 days, respectively. The median home sold for 98% of list price.

The most expensive sale was a historic North Broadway mansion in Saratoga Springs which sold for $1,687,500. It features just over 4000 square feet, five bedrooms and 3.5 baths.

Sixty-one homes in Saratoga County went under contract. The mean and median days-on-market were 81 and 60 days, respectively. One hundred ten homes were listen in Saratoga County with a mean list price of $304,646 and a median list price of $264,900.

Saratoga Springs Real Estate Market

Ten homes in Saratoga Springs were sold. The mean sale price was $522,920 and the median sale price was $347,500.

Clifton Park Real Estate Market

Twenty-nine homes in Clifton Park were sold. The mean sale price was $309,256 and the median sale price was $300,000.

Two Weeks in Review

Since there was no Week in Review last week, this post will cover the past two weeks, from August 2^nd through August 15^th. During that period, seventy-three homes in Saratoga County were sold through the Capital Region Multiple Listing Service. The average and median sale prices were $287,841 and $258,713 for sold homes in Saratoga, with an average and median days on market of 104 and 43 days.

The median home sold for 99.5% of list price, meaning that a home listed for $100,000 would sell for $99,500.

Topping out the recent sales is a 3000 square foot townhome in Water's Edge in Saratoga Springs. The home sold for $740,000. The view from the bedroom is pictured below.

Eighty-two homes in Saratoga went under contract. The mean and median days on market were 75 and 41 days. Not including new construction, 137 new homes came on the market in Saratoga. The mean and median list prices are $296,627 and $269,900.

Ten homes in Saratoga Springs were sold. The mean and median prices were $370,190 and $217,750.

The Week in Review

As of Wednesday morning, the MLS reports that 48 homes were sold in Saratoga County for the week ending August 1^st. The mean sales price and days on market were $286,658 and 52 days. The median numbers were $259,000 and 36 days. The mean home sold for 98% of list price and the median home sold for 95%.

The most expensive home was a 4 bedroom, 2.5 bath, 3300 square foot home in Clifton Park, selling for $589,864. No photo is available since the home is not yet built.

Fifty-three homes went under contract during the week with a mean and median days on market of 94 and 47, respectively. Not including new construction, 73 new homes came on the market, with a mean and median list price of $335,643 and $289,900, respectively.

In Saratoga Springs, eight homes sold. The mean sales price was $303,750 and the median was $242,500.

The Week in Review

As of this morning, the MLS shows that 28 homes sold in Saratoga County for the week ending July 25, 2008. The mean and median prices were $289,131 and $263,500 respectively. The mean and median number of days it took home to sell was 79 and 26 days respectively. Both the mean and median home sold for 97% of list price.

On the high end of the spectrum, a 4000 square foot custom home sold in Saratoga Springs for $925,000. It has four bedrooms and is located on just under 2.5 acres of land and is pictured below.

Thirty-seven homes went under contract and 76 new homes, not including new construction, came on the market.

In Saratoga Springs, eight homes sold. The average and median prices were $388,800 and $267,000 respectively.

Beat the Bad News Blues

It seems like the national headlines this week have had nothing but bad news when it comes to the real estate market. Homes prices are down, foreclosures are up. What does this mean for us? Not much. While the National Association of Realtors reports a 6.7% drop in median home values in June, compared to June of 2007, we saw last week in the Second Quarter Report that median home prices in Saratoga County fell less than 1%, which is a statistically insignificant amount.

We are lucky to be living in a market which continues to remain largely immune to the problems faced elsewhere throughout the nation.

Now does that look like a housing slump to you? My hope is that this chart will dispel any anxiety that Capital Region readers may be feeling about their housing situation.

The careful reader may have noticed that this graph displays mean prices, whereas median is usually the preferred metric. This is because the mean data was readily available and the median data was not. For purposes of showing the direction of the market, the difference is negligible.

The Week In Review

As of this morning, the MLS shows that 39 homes have sold in Saratoga County for the week ending July 18th, including new construction.  The mean price was $315,483, spending an average of 85 days on the market.  The median price for the week was $284,300.  The median days on market was 50 days.  The mean and median home sold for 97% and 95% of list price, respectively.

On the high end was a 3700 square foot four bedroom home in Saratoga Springs, selling for $760,000.

Thirty-eight homes went under contract and, not including new construction, seventy homes came on the market.

In Saratoga Springs, eight homes sold.  The average and mean prices were $392,871 and $307,987 respectively.