April 2025- Prices Moved Higher Again

Queensbury, NY- existing-home sales decreased 5.9% month-over-month and 2.4% year-overyear to a seasonally adjusted annual rate of 4.02 million units, according to the National Association of REALTORS® (NAR), as affordability challenges and economic uncertainty weigh on market activity. Sales were down month-overmonth in all four regions, with the West experiencing the largest decline, at 9.4%.

New Listings were up 16.2 percent to 509. Pending Sales increased 6.0 percent to 338. Inventory grew 12.2 percent to 807 units.

Prices moved higher as the Median Sales Price was up 11.4 percent to $400,000. Days on Market decreased 2.5 percent to 39 days. Months Supply of Inventory was up 13.6 percent to 2.5 months.

Total housing inventory increased 8.1% month-over-month for a total of 1.33 million units heading into April, equivalent to a 4.0-month supply at the current sales pace, according to NAR. Although inventory is up nearly 20% from the same time last year, the additional supply has had little effect on home prices across much of the country, with the national median existing-home price climbing 2.7% year-over-year to $403,700 as of last measure.

Residential activity in the counties of Essex, Hamilton, Saratoga, Warren, and Washington is composed of single-family properties, townhomes, and condominiums combined.  Percent changes are calculated using rounded figures.