September 2025- More days on market due to prices

Queensbury, NY-U.S. existing-home sales were virtually unchanged from the previous month, dipping just 0.2% to a seasonally adjusted annual rate of 4.0 million units, according to the National Association of REALTORS® (NAR). Most of these transactions went under contract in June and July, when mortgage rates were 40 to 50 basis points higher than current levels. Year-over-year, sales increased 1.8%, with the strongest activity occurring in the Midwest, where the typical home price is 22% below the national median.

New Listings decreased 5.2 percent to 460. Pending Sales increased 4.8 percent to 369. Inventory decreased 2.9 percent to 1,054.

Median Sales Price decreased 0.6 percent from $392,500 to $390,000. Days on Market increased 25.0 percent to 30. Months Supply of Inventory decreased 8.8 percent to 3.1.

Nationally, housing inventory declined for the first time this year, slipping 1.3% month-over-month to 1.53 million units, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the monthly drop, total inventory remained 11.7% higher than the same time last year. Meanwhile, the median existing-home price rose 2% year-over-year to $422,600, though it was essentially flat compared to the prior month.

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.