Local Housing Market

From the Albany Business Journal (here):

Montgomery County: sales down 30 percent, median price up 1 percent, to $121,300; year-to-date sales down 23 percent, median sales price down 2 percent, to $96,100.

I’m curious as to how our local market performs relative to the capital district market. I don’t have the numbers to crunch this but my sense would be that we tend to lag/lead in terms of prices: we lag behind in price appreciation (last market to see significant uptick in price) compared to other local markets but we then lead in terms of price declines (first market to see significant downtick in price).

Also curious to see what is happening with foreclosures and defaults locally so I’ll try to track that down.

Curious what others think on our real estate price dynamics or if I’m way off with my lag/lead thinking.

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