Jan-June 2016: Real Estate Snapshot

Jan-June 2016: Real Estate Snapshot

Through the first half of 2016, the Columbia-Greene Board of Realtors measured strong selling conditions in our region’s residential real estate markets. Data show that transactions are trending as predicted at the beginning of the year, with prices on the rise and inventory supplies slipping.

For sellers in this lower-inventory period, this trend means sales prices are closer to asking prices, but for buyers, supply continues to lag behind demand in our key Hudson Valley marketing areas.

Overall, it’s a positive message for the seller side of the real estate side of the business, with the numbers reflecting the tight correlation between supply, demand and prices.

Supply Price Activity Snapshot

New listings 2016
-5.6% (318)

Pending sales
+48.9% (207)

Inventory
-11.6% (1,754 units)

Median Sales Price
+2.3% ($209,750)

Days on Market
-36.1 (117)

Months Supply of Inventory
-24.4% (14.6)

1-Year Change in Closings
+6.8%

1-Year Median Price Change
+2.3%

For a more detailed analysis of the region’s real estate market, view the June 2016 NYSAR-CGBR Report

Posted in Home Page, trends.

Realtors PR