Capital Region Real Estate Market Update — March 2026 Albany, Schenectady, Saratoga & Rensselaer Counties | Single-Family Homes | Global MLS
The Capital Region housing market is officially shifting into its spring cycle — just on a slightly delayed timeline compared to prior years.
After a slower start to 2026, March brought a meaningful surge in new inventory, with 655 new listings entering the market — a 40% jump from February's 468. That momentum is carrying into April, signaling the busy spring season has arrived.
It's important to keep that inventory increase in perspective, though. With 843 active listings and just 1.77 months of supply, we remain firmly in seller-leaning territory. A balanced market typically requires 4–6 months of supply. For context, we sat at 1.05 months of supply in March 2025 — so while inventory is rising, we are still far from balanced.
What the data is telling us
Home values continue to climb. The median sale price reached $370,000 in March, up from $325,000 in March 2025 — a 13.8% year-over-year increase. The average sale price came in at $432,972, also up meaningfully from $382,801 a year ago.
Sellers are still getting above asking price on average, with a sale-to-list ratio of 100.8%. But the fuller picture is in the sale-to-original-list ratio of 99.1% — homes that required price reductions ultimately closed slightly below their original ask. That gap tells the story of a market where pricing correctly from day one still matters.
Days on market reflect the same two-speed dynamic. The average is 40 days, up from 33 days in March 2025, as buyers exercise more patience with homes that don't meet their standards. But the median is just 13 days — meaning the right homes are still flying off the market in under two weeks.
What we're seeing on the ground
Buyers are out in force and acting with urgency. Well-maintained, move-in-ready homes priced accurately are receiving multiple offers within days. Hesitation costs buyers — if a home checks your boxes, waiting is a risk.
At the same time, a clear divide has emerged. Homes that need work or are priced above market are sitting. The average active listing has seen a price reduction of $25,624 (-4.47%) — evidence that sellers who mispriced at launch are having to chase the market down. This selectivity is a meaningful shift from the past few years, when nearly everything sold quickly regardless of condition.
Looking ahead
As we move through April and May, inventory will continue to build, giving buyers more options. But more options doesn't mean less competition for the best homes — demand for quality, well-priced properties shows no sign of slowing.
For sellers: this is still a strong market, but strategy matters more than it did two years ago. Proper pricing and presentation are not optional extras — they are the difference between a quick, competitive sale and a price reduction.
For buyers: preparation and decisiveness remain your best tools. Get pre-approved, know your number, and be ready to move when the right home appears.
