//Fewer sales, but higher prices for Albany region homes

Fewer sales, but higher prices for Albany region homes

Sales of new and existing single-family homes in the Albany, N.Y., area fell 10% in January from year-earlier levels, the Greater Capital Association of Realtors reported. But the median sale price was up 8%, to $206,000, from the year-earlier price.

The figures cover an 11-county area that includes the Capital Region.

Albany, N.Y.

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The number of new listings rose a healthy 13% from a year earlier, although that didn’t appear to ease what has been a chronic inventory shortage. The association said inventory still fell 2.6% in January.

Pending sales also fell, down 5% from a year ago.

Closed sales were down 6% in Albany County, 15% in Rensselaer County, 8% in Saratoga County and 19% in Schenectady County.

The median sale price, at which half the homes sold for more and half for less, jumped 17% in Albany County to $234,500, increased 5% in Rensselaer County to $178,500, fell 4% in Saratoga County to $289,000 and climbed 24% in Schenectady County to $172,640.

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