Market Overview At A Glance
UPSTATE NEW YORK
Four Seasons Sotheby’s International Realty is pleased to present our 2024 Market Report for the Capital, Adirondacks, and Central New York regions. Despite elevated mortgage rates, housing markets across these areas remained strong, with steady price growth and competitive demand. Limited inventory continues to shape these markets, particularly in the Capital and Adirondack regions, while Central New York saw increased sales and price appreciation.
KEY MARKET INSIGHTS
Greater Capital Region
The Capital Region real estate market showcased resilience in 2024, with closed sales increasing despite a nearly 10% drop in inventory. Buyers remained competitive across all price points, especially in and around Albany, where strong demand for housing continues.
Local Highlights:
Albany’s housing market remains highly sought-after, fueled by its vibrant economy and cultural amenities. The downtown area continues to attract professionals and young families.
Saratoga Springs saw sustained interest in luxury properties, bolstered by its renowned racetrack, lively arts scene, and growing business sector. Schenectady and Troy are seeing renewed investment, with revitalized historic districts and an influx of first-time homebuyers.
Strong employment in government, healthcare, education, and technology sectors, including major institutions like SUNY Albany and GlobalFoundries, continues to support housing demand.
Adirondack Region
The Adirondacks remain a prime destination for both primary and secondary homeowners, drawn to the region’s natural beauty and recreational opportunities. Average home values rose throughout the year, surpassing $558,000—an almost 4% increase year over year. While luxury waterfront properties saw strong appreciation, areas like West Glens Falls continue to offer more affordable options.
Local Highlights:
Lake Placid and Saranac Lake continue to command premium prices, driven by tourism, outdoor recreation, and high demand for vacation homes.
The Lake George area remains a hot spot, with strong interest in both waterfront properties and year-round residences.
Ticonderoga and Indian Lake have seen a rise in demand for cabins and seasonal properties, as more buyers seek tranquil retreats.
Central New York
The Central New York housing market saw steady growth in 2024, with home prices increasing by as much as 7% year over year. Sales activity rose by over 7%, even as inventory remained tight. Demand is expected to remain strong, particularly in areas with expanding job markets and economic development.
Local Highlights:
Syracuse continues to experience growth, fueled by investments in the Micron semiconductor facility and expansions in healthcare and education.
The Finger Lakes region, including Ithaca and Skaneateles, remains a top destination for buyers seeking lakefront homes and rural retreats.
Utica and Rome are seeing increased buyer interest, driven by affordability and ongoing revitalization efforts.
Areas surrounding major universities, such as Cornell and Syracuse University, continue to see steady demand for both primary residences and investment properties.
As we navigate the evolving real estate landscape, our team at Four Seasons Sotheby’s International Realty remains committed to providing expert guidance and insights. Whether you’re buying, selling, or investing, we’re here to help you make informed decisions in this dynamic market.
Key Market Highlights
SARATOGA REGION
SARATOGA COUNTY BY TOWN
WASHINGTON COUNTY BY TOWN
ADIRONDACK REGION
WARREN COUNTY BY TOWN
ESSEX COUNTY BY TOWN
LAKE PLACID REGION
ESSEX COUNTY BY TOWN
CLINTON COUNTY BY TOWN
FRANKLIN COUNTY BY TOWN
CAPITAL DISTRICT
ALBANY COUNTY BY TOWN
RENSSELAER COUNTY BY TOWN
SCHENECTADY COUNTY BY TOWN
CENTRAL NEW YORK
CENTRAL NEW YORK BY TOWN
THOUSAND ISLANDS BY TOWN
BUFFALO REGION BY TOWN
Saratoga Region
Saratoga County by Town
All Properties | All Price Points
Washington County by Town
Adirondack Region
Warren County by Town
All Properties | All Price Points
LAKE GEORGE
Essex County by Town
All Properties | All Price Points
Lake Placid Region
Essex County by Town
All Properties | All Price Points
Clinton County by Town
All Properties | All Price Points
Franklin County by Town
All Properties | All Price Points
Capital District
Albany County by Town
All Properties | All Price Points
Rensslaer County by Town
Schenectady County by Town
All Properties | All Price Points
Central New York
Central New York by Town
All Properties | All Price Points
Thousand Islands by Town
All Properties | All Price Points
Buffal0 Area by Town
Properties | All Price Points
Vermont
Champlain Valley
South Burlington: 802.864.0541
Central Vermont
Rutland: 802.774.7007
Killington: 802.746.4203
Stowe: 802.253.7267
Northeast Kingdom
St. Johnsbury: 802.751.7582
Southern Vermont
Mount Snow: 802.464.1200
Stratton: 802.297.8000
Manchester: 802.362.4551
Okemo: 802.228.4537
Upper Valley Fairlee: 802.333.4701
SALES OFFICES
Jay Peak Resort
802.858.5359
SouthFace Village
802.228.4537
New Hampshire
Lake Sunapee Region
New London: 603.526.4050
Lakes Region of NH Meredith: 603.677.7012
Southern New Hampshire Bedford: 603.413.7600
Peterborough: 603.924.3321
Upper Valley Hanover: 603.643.6070
SALES OFFICES
Owl’s Nest Resort 603.779.5758
New York
Hudson Valley Kingston: 845.331.3100
Rhinebeck: 845.876.5100
Tivoli: 845.757.5000
Woodstock: 845.68484
Hudson: 518.822.0800
Upstate New York Saratoga Springs: 518.580.8500
Lake George: 518.644.9500
Lake Placid: 518.523.2550
Central New York Syracuse: 315.685.8100
Thousand Islands Region: 315.685.8100
Finger Lakes Region: 315.685.8100
Western New York
Buffalo: 716.320.1414
Rochester: 585.394.7111
SALES OFFICES
Windham Mountain Club 518.73440