Latham, NY

With A few weeks left in the 2009 Year, some preliminary results have been formulated about the Latham Real Estate Market. Here inthe Albany Area, our real estate market has stayed consistently above average compared to most parts of the county. The Town of Colonie which hosts many different Hamlets, Villages and other areas has especially maintained the trend of being one of the healthier micro real estate markets in all of Albany, NY and the surrounding Capital Region. The large assistance of commercial tax basis has provided the residents with a lesser tax load, thus making buying a home in the Town of Colonie a favorable and starting place for many home seekers (especially first time buyers in the Albany Real Estate Arena).

As far as the real estate report for 2009, the trends seem to show that some things are slightly down from the previous year. The number of homes SOLD in the Latham Real Estate market is down from 326 to 305. With the decrease in demand for new home sales, this would definitely impact the overall sales data. The average sale price in 2008 was $331,000 while in 2009 it was $286,000. It's important to note that 125 of the 305 homes that have sold in Latham/North Colonie for 2009 were in the $200,000-299,999 price point. This is over 40%! The average sq. footage of homes sold in the Latham Real Estate market has stayed relatively consistent at 1927 down from 2082. In 2009, the average Days on Market has been 71 up from 66 of the previous year. This number is also somewhat altered because I left the homes off the list that were new construction or the ones that were unlisted and sold by active agents (with buyer clients). The reason I did so was because when these properties are entered into the MLS the data shows that the houses were on the market for 0 days. However, new construction deals are made upon the signing of the contract w/ deposit and the others we're never really fully and fairly entered onto the market.

I hope this report is useful in some respect, and even though the numbers seem to be down, I would say the general feeling of the Albany (Capital Region) real estate market has been very healthy with high buyer confidence. Thanks to the law makers and voters who helped passed the tax credits and thanks especially for extending them out to April 2010! Hopefully next years, report is high flying and things increase for the general health of our economy! Best in '10.

Michael J. Field, Assoc. Broker - REALTOR

THE HOME FIELD ADVANTAGE!

518.724.5882 Office

mike@thefieldteam.com - email

www.thefieldteam.com

The results are now posted here for your latest North Colonie Real Estate information...Click this link for the results of your November 2009 North Colonie Sold Home Property list...

Michael Field, Realtor - Broker Assoc.

THE FIELD TEAM at Keller Williams Realty

518.724.5882 Office

mike@thefieldteam.com

www.thefieldteam.com

The results are in...Here are the October 2009 Sold Home Statistics for all of North Colonie. 30 Homes sold ranging from $125,000 up to $1 Million. I hope you enjoy these stats as I strive to keep you updated on what's happening in the our backyard real estate market. Also, if you would like photos on any/each of these that is no problem...Thanks and as always, please call if I can help with you or your families real estate needs!

PS- if you would like this report for another town, city or even county, feel free to ask, I'd be glad to inform.

THE HOME FIELD ADVANTAGE!

Michael J. Field, Assoc Broker - Realtor

The Field Team

Keller Williams Realty - Capital District

I was recently on a listing presentation here in Upstate NY...As we were wrapping up the presentation we were again talking about their goals for the future and what...ideally they would like to see happen...The sellers were wavering back and fourth about what the market suggests the value of thier home was worth...In their mind they were taking a hit (which from 3yrs ago they quite possibly were)They thought there house was worth $20K more...

At this moment scripts and my experience would tell me to break into the typical dialougue of...In this market the precieve hit that you are going to take on the sale of your home you will make up in the purchase of your next home....which is true, but I also spoke to them about...The interest rates and the 8K First Time Home Buyer Tax Credit...The clock is ticking on this tax credit...

We have about 3 more months of action that could be directly correlated to the First Time Home Buyer Tax Credit left...It was at that point in time their eyes lit up and they realized... That what they thought the market value was for their home and what the market really suggested is, two different things, but in their mind there were more advantages than disadvantages to there situation and listing their home.

Needless to say I walked out of there with a signed listing agreement...Thank You "First Time Home Buyer Tax Credit"

This monthly real estate report is brought to you courtesy of Michael Field - The Field Team at Keller Williams Realty. The following information shows you, for the month of March, how many new properties hit the market, how many went pending and also how many closed...Enjoy!

New Listings

50 New properties hit the market this month with an average asking price of $420,680. The High was $1.55 million and the low was $126,900. To be fair, this month there were 5 new listings over 1 million which heavily shifted the average new listing asking price...In a typical market, this average new listing asking price would be closer to $250K. Included in this 50, 10 were less than $200K, 11 were under $300K, 16 were under $400K, 4 under $500K, 2 under $600K, 1 @ $629K and 1 @ $899K (and of course the 5 between $1.05 Million-1.55 Million).

Pendings

36 Properties went pending this month. Of these, 12 of the properties had AN ASKING PRICE of less than $200K, 12 of the properties had ASKING PRICES of LESS than $300K, 6 for under $400K, 3 for under $500K, 1 under $600K, 1 under $700K and one under $1 million.

SOLDS

15 Properties closed this month. Average sale price $266,901, average Days on Market - 83, a high of $689,000 with a low of $115,000. 6 Properties sold for under $200K, 4 for under $300K, 3 under $400K, 1 @ $450K and then the one for $689K.

For a complete list of this information, please contact me in the office & I'd be glad to provide this report or perhaps a report similar for another particular area. Have a wonderful day & don't forget the HOME FIELD ADVANTAGE!