🏡 Albany's housing market is hot—if you’re selling

Today in The 518

• Albany’s housing market is hot—if you’re selling 🏡 

• It’s National French Fry Day 🍟 

• Saratoga Race Course opens for the season 🐎 

• Schenectady SummerNight throws down the beats 🎛️ 

Albany home prices surge in hot seller’s market

There’s a stately brick Colonial home in Albany’s Buckingham Lake neighborhood—one of the most desirable in the city—that sold in May for $505,000. With multiple offers, it went for $56K over asking. The home last sold in 2015 for $235,000—$64K BELOW asking. (You can see the full listing here.)

In this one house, we can see how the real estate market in Albany is trending. There’s no question—it’s a hot seller’s market right now.

In fact, Zillow’s Market Heat Index currently lists Albany, Buffalo, Rochester, and Syracuse as the top 4 seller’s markets in the entire country. Just since February, the median home price in Albany has soared from $239K to $289K in July, according to Movoto.

Likewise, home prices in Schenectady, Troy and Latham have been on a tear. But it’s not a hot market everywhere—prices in Clifton Park and Loudonville have been relatively flat. You can find the trend for your own area on Movoto (enter your zip code, scroll down to the bottom, click on “sold price” under market trends & statistics—this only works on desktop, not mobile).

To get a read on the Capital Region’s housing market, we turned to Dana Farrell with Howard Hanna, who represented the buyer who purchased Albany’s priciest home in recent history at $1.2 million in May. She also happens to be OUR real estate agent, who helped us buy The 518’s home base in Albany. Btw, we can’t recommend Dana enough if you’re looking to buy or sell!

“We’re in a seller’s market because we still have a deficit of homes,” Dana said. “If the home is priced really well, you’re going to see instant activity because there’s just not enough inventory.”

She said the market for homes between $200K and $300K is particularly competitive. Sellers in that range can easily get multiple offers within a couple of days of listing their home, especially if it’s priced right. Dana typically advises her clients to be a “little less aggressive” with pricing to drive up this kind of demand.

Read the rest of our conversation with Dana here.

“Some people look for a beautiful place. Others make a place beautiful.” —Hazrat Inayat Khan

If you’re gonna be house hunting this weekend, bring your 😎 and stay hydrated, friends.

Fire seriously disrupts Saratoga businesses

Three weeks after an electrical fire tore through 368 Broadway in Saratoga Springs, many businesses remain closed—even as the Saratoga Race Course opens this weekend and the peak season for visitors heats up. The Daily Gazette has the full story.

Get your kids on course for horse racing 🐎 

The New York Racing Association (NYRA) wants them while they’re young. It’s launching the NYRA Students of Thoroughbreds and Racing program on July 27. Running weekends at the Saratoga Race Course through Sept. 1, the program is designed for children 12 and under, offering insider access to thoroughbred racing through exclusive events and kid-friendly activities. Best of all, it’s free! Register here. More at the Troy Record.

Successful boutique in downtown Albany for sale

The Fort Orange General Store at 412 Broadway in downtown Albany celebrated its 7th anniversary on July 10. On the same day, owner Schuyler Bull announced that the store is on the chopping block, listed at $160,000. Opened in 2017, the popular boutique sells home goods and gifts from emerging designers and artists, and had gross revenue of $369,000 in 2023. More at News10.

Today is National French Fry Day 🍟 

Whether you call them chips, French fries or freedom fries, who doesn’t love a plate of hot, crispy spuds? Even you vegans 😂 Check out these local eateries offering French fry promotions today, which really should be a national holiday.

Not too old for my forever home: Adopt an adult dog without the fees!

The Berkshire Humane Society is waiving adoption fees for all adult dogs July 15-21, as part of the Mass Saves Adopt-a-thon. This event focuses on finding homes for dogs over a year old. Interested dog moms and dads can view available pups on the Berkshire Humane Society website (come on, look at those faces!) and submit applications for adoption. “We have many good dogs in the shelter, but it takes resources and time to find them a home,” said Executive Director John Perreault. More at News10.