Home Values

Albany Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$185,300

  • -1.3% 1-year change
  • -0.5% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Albany Metro is $185,300. Albany Metro home values have declined -1.3% over the past year and Zillow predicts they will fall -0.5% within the next year. The median list price per square foot in Albany Metro is $132, which is lower than the New York average of $178. The median price of homes currently listed in Albany Metro is $209,000 while the median price of homes that sold is $204,650. The median rent price in Albany Metro is $1,187, which is lower than the New York median of $2,350.

Foreclosures will be a factor impacting home values in the next several years. In Albany Metro 2.0 homes are foreclosed (per 10,000). This is greater than the New York value of 1.8 and also lower than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Albany Metro is 8.4%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Albany Metro homeowners underwater on their mortgage is 12.6%, which is higher than New York at 12.4%.

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Relative ZHVI
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Albany Metro Market Overview

Data through Oct 31, 2014
  • $185,300 ZHVI
  • -0.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $209,000 Median listing price
  • $204,650 Median sale price
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Albany Metro Market Health

Data through Oct 31, 2014
  • 2.7/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • 121 Average days on Zillow (Sep 30, 2014)
  • 12.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 8.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2 homes Albany Metro
1.8 homes New York
4.5 homes United States
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Cities in Albany Metro

Name Median ZHVI
Saratoga Springs $312,700
Clifton Park $258,000
Bethlehem $245,000
Name Median ZHVI
Town of Niskayuna $214,900
Town of Colonie $200,600
Albany $152,500
Name Median ZHVI
Town of Rotterdam $149,100
Troy $128,800
Schenectady $91,400

Listings & Sales

Data through Oct 31, 2014
  • $132 Median list price / sq ft
  • $135 Median sale price / sq ft
  • 49.4% Listings with price cut
20.1%
Sold below listing
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Albany Metro Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,510 Albany Metro
    $1,911 New York
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,187 Rent list price
  • $1.06 Rent list price / sq ft
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