Is Albany, NY 12247 a buyer’s or seller’s market?
Albany is a seller’s market. With about 1.2 months of supply and 46% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Albany housing market right now
In the three months ending August 31, 2026, 46% of homes in Albany, NY 12247 sold above their list price, the typical home went under contract in 11 days and there were 1.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (45% then), homes sold more slowly (6 days then) and the median sale price rose 33% to $636,724. Overall, Albany is about as competitive as it was a year ago.
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Where Albany is
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Questions about Albany real estate
Is Albany a buyer’s or seller’s market?
A seller’s market: there were 1.2 months of supply in Albany, NY 12247 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Albany?
The typical home went under contract in 11 days in the latest three months.
Do homes in Albany sell over asking?
46% of homes sold above their original list price, and the typical sale closed at 99.6% of the list price.
What is the median home price in Albany?
The median sale price was $636,724 in the three months ending August 31, 2026, about $238 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology