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Saratoga County June 2024 Market Update

Carrie Pescetti

Carrie is a member of National Association of REALTORS®, New York State Association of REALTORS®, Greater Capital Association of REALTORS® and Glob...

Carrie is a member of National Association of REALTORS®, New York State Association of REALTORS®, Greater Capital Association of REALTORS® and Glob...

Jun 22 2 minutes read

The real estate market in Saratoga County, NY, shows strong signs of growth and optimism in 2024. Home prices have continued to rise, with the median listing price reaching approximately $534.9K, marking an 18.2% increase year-over-year. This trend reflects a robust market driven by high demand and limited inventory, keeping the market competitive and active.

One of the key reasons for optimism is the consistent increase in home values. For example, in Saratoga Springs, the average home value is $549,336, up 5.5% over the past year. This upward trend indicates strong market confidence and sustained interest from buyers.

Moreover, Saratoga's market dynamics favor sellers, with homes often selling above the list price. The sale-to-list price ratio in May 2024 was 102.2%, indicating buyers are willing to pay premiums to secure properties in the area. The market's quick turnaround time, with many homes selling within a short period, further underscores the high demand.

Migration trends also support a positive outlook. A significant portion of homebuyers from within New York and other metropolitan areas are looking to move to Saratoga County, attracted by its appealing living conditions and opportunities. This influx of new residents helps sustain demand and contributes to market stability.

Overall, Saratoga County's real estate market is buoyed by rising home values, high buyer demand, and a competitive environment, making it a promising area for buyers and investors looking for growth opportunities.

Saratoga County

*Past 3-months market activity

[812]

New Listings

[237]

Active Listings

[335]

Under Contract

[240]

Closed Sales


*Past 3-months closed sales

Homes Sold

104.57%

Sale-to-List Price


*Past 3-months closed sales 

$472,360

Average Sales Price

7

Average Days on Market

$352

Average Price per Square Foot

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