Is Albany, NY 12204 a buyer’s or seller’s market?
Albany is a seller’s market. With about 1.7 months of supply and 53% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 92% of U.S. ZIP codes, and #231 of 649 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Albany housing market right now
In the three months ending August 31, 2026, 53% of homes in Albany, NY 12204 sold above their list price, the typical home went under contract in 11 days and there were 1.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 17 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 33%, homes sold more slowly (8 days then) and the median sale price rose 66% to $564,756. Overall, Albany is more competitive than a year ago, so tougher for buyers.
Within Albany County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell less often over asking than in 53%. On our competition score, Albany ranks #231 of 649 NY ZIP codes with enough sales (score 87 out of 100).
Nearby, buyers who want less competition could look at Albany 12207 (0% sold over asking) or Rensselaerville 12147 (0% sold over asking), while Guilderland 12084 (100% sold over asking) and South Bethlehem 12161 (100% sold over asking) are even more competitive.
Run the numbers for 12204
Nearby markets
Albany 12202Seller’s market $118 /sq ftAlbany 12203Seller’s market $213 /sq ftAlbany 12205Seller’s market $245 /sq ftAlbany 12206Balanced $112 /sq ft Browse all markets →Towns like Albany nearby
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Questions about Albany real estate
Is Albany a buyer’s or seller’s market?
A seller’s market: there were 1.7 months of supply in Albany, NY 12204 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Albany?
The typical home went under contract in 11 days in the latest three months.
Do homes in Albany sell over asking?
53% of homes sold above their original list price, and the typical sale closed at 100.1% of the list price.
What are property taxes in Albany?
About 1.77% of a home’s value a year in Albany County, or roughly $7,080 on a $400,000 home.
What is the median home price in Albany?
The median sale price was $564,756 in the three months ending August 31, 2026, about $211 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology