Albany Oregon real estate trends from October 2024
What’s Hot, What’s Not
October’s here, and Albany’s real estate market is making moves! If you’ve been on the fence about buying or selling, this month’s stats might tip the scale. Let’s break down the numbers and see where the local market stands.
Home Prices
The median sales price in Albany is $447,667, a healthy increase of 6.2% over September 2024 and an 8.5% increase year over year. This is one of the biggest increases in the mid-valley. Translation? Sellers are still in a strong position, but buyers might find a bit more wiggle room compared to recent months.
Inventory and Sales
Active inventory saw a decrease of 8.1%, with 64 homes available. New listings also declined by 9.9% which is completely normal this time of year. We are heading into the holiday season and people don’t want to have to deal with showings.
Days on Market
Homes aren’t moving as quickly, but they are still closing in 54 days. That is a 50% increase year over year so generally speaking, buyers have time to walk through a home once or twice before writing an offer.
Market Balance
With a current inventory supply of 1.9 months (down nearly 29% from September), Albany remains a seller’s market. The competition among buyers is still fierce, so expect multiple offers on well-priced properties.
Whether you’re thinking of buying or selling, staying ahead of these trends is crucial. Get in touch to navigate this ever-changing market like a pro.
This data came from the WVMLS and Altos.
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