Glens Falls Chronicle Serving the Glens Falls/Lake George region; Warren, Washington and northern Saratoga counties since 1980
“Homes in New York’s Southern Adirondack region spent an average of 24 days on the market in June, lower than any point in the past decade. “The median sales prices jumped to $350,000, the highest mark in the past ten years,” reports the Southern Adirondack branch of the National Association of REALTORS®.
“Nationally, the median sales price exceeded $400,000 for the first time ever, up 15% from the same time last year.”
Densay Sengsoulavong, CEO of the Southern Adirondack REALTORS®, was quoted: “The fact that homes continue to sell quickly and above asking price indicates that demand remains strong in our area. Given that summer is typically our most active sales season, we expect the market to remain competitive in the coming months.”
The press release said, “New listings in the region increased 1.9% in June compared to last year, from 697 to 710.
“The inventory of homes for sale dropped 34.7%, from 1,432 to 935, and pending sales increased 4%, from 478 to 497. Closed sales were down 11.4%, from 466 to 413.
“Sellers received 103.6% of their list price in June.
“The median sales price increased 6.6% in June compared to last year, jumping from $328,250 to $350,000.
“Homes spent an average of 24 days on the market last month, compared to 44 days last year. The months supply of inventory decreased 17.9% compared to 2021, from 2.8 to 2.3.”
Southern Adirondack REALTORS®, Inc. said it “represents over 525 REALTOR® Members and more than 60 Affiliate members in New York’s Southern Adirondack region. For more information, visit https://southernadkrealtors.org.”
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