- Average sales price was up 11%.
- The inventory of homes available for sale remained relatively flat. Active listings were down 30%, which was offset by fewer closed sales (due to the lack of available inventory).
- Volume of closed sales was down 39%, and pending sales were down 32%.
- Interest rates are up ~.5% compared to ’23.
- Inventory remains challenging, sitting at a ~1.5 months supply of homes for sale.
Inventory levels of a 4 – 6 months’ supply is considered balanced, so there is still a long way to go.
![](https://jasonyoungrealestate.com/wp-content/uploads/2024/04/miranda-Albany-County-newsletter-Q1-797x1024.jpg)
![](https://jasonyoungrealestate.com/wp-content/uploads/2024/04/miranda-Rensselaer-County-newsletter-q1-797x1024.jpg)
![](https://jasonyoungrealestate.com/wp-content/uploads/2024/04/miranda-Saratoga-County-newsletter-q1-797x1024.jpg)
![](https://jasonyoungrealestate.com/wp-content/uploads/2024/04/miranda-Schenectady-County-newsletter-q1-797x1024.jpg)