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Local Home Prices Continue to Rise

Written by Jonathon Norcross on . Posted in Business.

Real estate price chart icon. Residential price graph decreases. Vector illustration

SARATOGA SPRINGS — According to an August 2024 market update created by the Greater Capital Association of Realtors, the median sales price of a home in Saratoga County from January through August of 2024 was $435,000. Compared to the same eight-month period last year, the median price has increased by 7%.

The number of new listings has also declined, by 1.9%, compared to January-August last year, and the number of closed sales dropped by nearly 4%.

In Saratoga Springs, the median sales price of a home is now $632,500, a nearly 6% increase compared to January-August 2023. The number of closed sales declined by 23.4%, and the number of new listings dropped by nearly 6%.

The real estate picture in Malta is a bit rosier. Although the median sales price has increased by more than 10% to $444,261, the number of listings and the number of closed sales are both up by more than 13% and 25%, respectively. 

In Wilton and Gansevoort, the median sales price is up 17% to $544,686. The number of listings has increased by 4%, but the number of closed sales is down by nearly 5%.

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