Recently, we hosted a Real Estate and Downsizing Seminar at Hamilton Parc. Experts in the field shared insights, data and tips on how to get started to prepare and sell your home in 2025.
What we learned is that, despite the fear that the media spreads about our economy, the real estate market is still strong, especially here in the Capital Region. Younger buyers who cannot afford new construction are looking for your home, and they are increasing in number. The demand is bigger than the supply right now.
Carol Asiello, from Keller Williams, presented up to date data on the real estate market in Albany County. We learned that it is a GREAT TIME to sell your home to get top dollar, a smooth sale and a fast closing. Between January 2024 and today, sales numbers are UP and inventory is DOWN. While the overall average days on the market are 29 days, many buyers are cash buyers and homes are still receiving multiple offers and go under contract in less than a week. Property values are expected to continue to increase in 2025, as is the number of expected buyers. Yes, higher interest rates could make it more difficult for some buyers, but cash buyers are not affected and buyers are still willing to borrow. With higher prices homes, there is a higher demand for smaller, or older , more affordable homes. Contrary to what we think, we do not have to have a model home, fit for Home and Gardens to sell quickly!
Today, in Albany County, there are 170 homes “for sale” and 363 homes “pending” sale. 110 are priced under $500,000. 386 of these homes are priced under $500,000. The median price is currently $315,000 – up from $290,000 in 2024 – homes are still selling well! This also means that your home may be more attractive than you think, without all the expensive upgrades and remodeling. Today’s buyers are eager to customize your home to suit their style. Carol suggested that sellers start with a complimentary meeting where she can provide an accurate market analysis on your home, considering all its unique attributes. In that process you will learn what kinds of improvements you should do, and which ones may not be necessary, and walk away with an accurate selling price, which will most likely be higher than you would think. She suggests doing a pre-sale home inspection so you are aware of any potential issues that could affect your sale. Taking these simple steps can provide you with the confidence to start preparing to list your home.
Before you list your home there are two very important steps to take first: Determine where you are moving to and do your de-cluttering or “downsizing”. When looking for your new home, consider factors such as what your needs are today and what they will be in the next 5 – 10 years. Active Adult Communities, like Hamilton Parc in Guilderland, are an attractive maintenance free option that provides amenities and services to keep you active and independent, while also providing the support you might desire as you age. It’s important to visit and claim your spot before you list your home, as things will move pretty quickly.
Organizations like Organize Senior Moves are a must when it comes to de-cluttering, downsizing and moving. Owner, Michelle Kavanaugh, shared some incredibly helpful tips on how to get started, and how quickly this process can also go. She recommends starting now, and her team can work with you over time, to make this, sometimes overwhelming, task, manageable and effective. They can manage your move, pack you and unpack you, as well as help you plan your new rightsized design, ensuring that your precious items will fit.
When considering your future and what’s best for you, don’t let your clutter or fear of selling, hold you back from getting a great price for your home and landing a spot in a better suited homestead. Your third 3rd of life can be an adventure, and it all starts with a simple phone call!