< Back to BLOG

Malta NY Home Sales Surge in September 2012

This is the ninth consecutive month of good news for our Capital Region housing market. The Capital Region always performed better than the national market. So it’s no surprise now that the consensus is the national market has bottomed out, the local Capital Region market is several months from its bottom.

With the continued positive job growth in our area, 2013 looks even more promising. It’s even more striking when you look at pockets of growth in Saratoga County, near GlobalFoundries Malta NY. Overall Saratoga County saw a 2% increase in sales and a 15% increase in price. Homes for sale in Malta NY rose 15% in price and total sales grew 20%. The average days on the market fell for Malta homes from 84 to 72 days (14.0% decline). In Saratoga Springs homes for sale dipped 2.2% in price but the total Saratoga Springs sales grew 19%. ┬áThe average days on the market for Saratoga Springs homes plummeted from 122 to 95 days (21.9% decline). Homes for sale in Clifton Park, increased in price 4.4% compared to the September 2011. But total sales of Clifton Park homes dipped 1.6% as inventory climb 15.2%. Average days on the market in 2012 dropped 19.7% for Clifton Park homes for sale to a mere 63 days – barely two months.

This data release follows the news that the Town of Malta officially approved GlobalFoundries Malta NY expansion – set to bring an additional 1,400 new jobs to the region.

Here is a county break down from the Times Union, Eric Anderson.

Albany County: Sales fell 1 percent, pending sales rose 35 percent, the average price fell 6 percent to $221,223, and the median price was up 2 percent to $197,300.

Rensselaer County: Sales were up 8 percent, pending sales rose 5 percent, average price rose 6 percent to $200,844, and the median price was up 5 percent to $180,200.

Saratoga County: Sales were up 2 percent, pending sales climbed 26 percent, the average price rose 15 percent to $305,893, and the median price rose 8 percent to $268,800.

Schenectady County: Sales fell 20 percent, pending sales rose 21 percent, the average sale price was nearly flat at $188,904, and the median price rose 10 percent to $180,000.

Schoharie County: Sales fell 5 percent, pending sales were unchanged, average price fell 16 percent to $115,694, and the median price fell 11 percent to $117,300.