QUEENSBURY, N.Y. (NEWS10) — Prices have continued to climb in the Southern Adirondack real estate market. During August, the market saw increases in prices and lower levels of inventory compared to August of 2021, with homes spending less time on the market and selling above list price.
“Our market’s trend of higher prices and fewer listings continued in August,” said Densay Sengsoulavong, CEO of the Southern Adirondack Realtors. “While some experts believe price growth may moderate in the months ahead, the Southern Adirondack region is still showing signs of strong demand with high prices and quick sales. Unless we see a spike in inventory or a drop in demand, we’re likely to see a continued seller’s market pushing prices higher for the foreseeable future.”
Homes spent an average of 19 days on the market last month, compared to 29 days, 10 days more, in August of 2021. The months supply of inventory decreased 20%, from three to 2.4.