In the past year the real estate market has been as volatile as the stock market. Drastic price increases have been fueled by low inventory, speculation and low interest rates. Today homes are selling for $100,000 more on average than this time last year. This isn't new information for most of you, as it's hard to read the news without seeing realtor commentary on the up market.
Fortunately, if you're in the market to buy a home in Albany there may be good news. Currently there are thirty properties for sale in Albany, more than we have seen for any month in the past year. The main reason for the price increases in the past year has been a lack of inventory. With this bump in homes for sale I would expect prices to remain stable into the new year.
Devin Ratoosh grew up in Albany and currently works as a real estate broker specializing in residential sales and property management in Albany, Berkeley, and the East Bay.
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For more information about Devin visit http://www.DevinRatoosh.com