According to data from the Global MLS, the marketplace for NY Capital District residential properties, here is how Q3 close compared to Q2 close:
The Number of SOLD listings increased by 33% to 2,461 properties with a top sale of $2.9 million at 8 Campion Lane in Saratoga County.
The Average Sales Price increased 2%, to $342,703 w/an Average Price Per Square Foot to $191 per square foot.
The inventory of properties available for sale as measured in months supply decreased slightly to 1.34 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 6.82% according to Bankrate.com.
While sellers continue to average over their asking price, the market is showing some signs of cooling. In Q2, sellers averaged 4.26% over ask. At the end of Q3 this was down to 2.77% over ask… down 1.5%.
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