Columbia County NY Market Shift: Why Active Listings Are Surging
The Balancing Act
The Median sale price in May rose to $490K from $421K in April, but this is down -10.75% from last May. The median sale price year to date is $476,562 which is down -10.92%. 35 Homes sold in May down -27% compared to last May and the number of homes sold year to date thru May is down -12%. There have been 173 homes sold this year thru May vs 197 Last year.
112 new listings hit the market in May which was up 4.7% year over year. Year to date the number of new listings is still down -1.4%. The total number of Available homes on the market in May was up slightly by +1.5%.
61 Homes were placed under contract in May which is up 5.2% compared to last May. Year to date number of homes going under contract is still down -6%, but there was a big shift that took place in May compared to April.
Buyers are active, and listings are appearing—but the speed of the market has profoundly shifted.
24% Spike in Days on Market
Average days on market in May was 91, a 24.66% increase or 18 more days compared to last year, but a decline from what we saw in April. Year to date the average DOM is 112 days, up 24% year over year. Days on Market tend to shrink during the summer season as there is typically more buyer activity this time of year but all signs indicate the trend of longer days on market will continue this year compared to last year because there are simply more sellers than there are buyers right now.
Homes that need a price reduction are taking two and a half times longer to sell
This year 41% of homes sold saw a price reduction before selling and they sat on the market for an average of 173 days verses those without a price reduction that were only on the market for an average of 68 days. The average price reduction before selling is -11.7%. This data proves that pricing precision is everything today; in the current Columbia County NY housing market, homes that need a price reduction are taking two and a half times longer to sell than those priced right from day one.
Under $600K: 41.6% of listings took a price reduction before selling. Average reduction -10%. This segment has the largest buyer pool and strongest demand, which helps limit the severity of reductions.
$600K-$999K: 45.5% of listings took a price reduction before selling. Average reduction -12%. Pricing accuracy in this segment is most challenging
$1M+: 30.3% of listings took a price reduction before selling. Average reduction -19.2%. Luxury sellers are often willing to wait longer before adjusting, but when the market forcers a correction, it’s much larger’
Overall the sale price to list price ratio was 97.2% in May, up 2 points from April but down 1 point from last year, indicating that once a home is positioned correctly, negotiations are still relatively tight.
A deeply segmented market
Coming out of May there was only 5.76 months of inventory available, up 1.77% compared to last year. Technically less than 6 months is considered a sellers market, but it’s not that simple as we dive deeper and look at the segmented market. The median list price today is $675K. There are currently 287 homes on the market and that includes homes with accepted offers that have not gone under contract yet. Let’s take a look at the different segments:
145 Homes or 50% of all homes are sitting between $200k-$599K. Which is where 59% of all sales have happened YTD. This segment favors sellers, but buyers still have some negotiating power as we see from the price adjustments and days on market.
74 Homes or 26% of all homes are sitting between $600k-$999K. Which is where 17% of all sales have happened YTD.
86 Homes or 30% of all homes are sitting over $1M. But this segment makes up only 17% of all sales YTD. This segment has 14 months of inventory or homes available and that is considered a heavy and deep buyers market that will take well over a year to clear at the current pace of demand.
Availability of homes varies wildly from town to town
Generally we are seeing the areas that have more available homes in the core market are very active verses the areas dominated by the higher price point and luxury homes that are seeing less activity. This map shows all the homes sold in blue and the pending sales in Orange. The most active micro markets dominate the north western quadrant of the county between Hudson, Kinderhook, Valatie, and Chatham and are most likely driven by primary home buyers vs second home buyers and primary home buyers tend to be largely motivated by proximity to amenities, commute time, school district and are searching with more urgency than a second home buyer.
2026 Homes sold to date and current Pending homes
Affordability remains an issue
Mortgage rates have retreated slightly from the highs we saw last month and rates are still lower than they were a year ago. The labor market is stronger than expected but inflation is still a problem, so it’s unlikely we will see any rate cuts soon. Affordability is very much an issue and consumers are reminded every time they buy gas or groceries. Right now, with rising costs across the board, buyers are much more cautious. Those serious about buying are looking at all the carrying costs associated with the particular home: utility, maintenance cost, taxes and even homeowners insurance costs. Buyers are also much more specific about what they need in their next home and are willing to stay put until the find the right one. That’s why condition and presentation matter more than ever when listing your home.
How to succeed in this market if you are selling:
Be realistic about your initial pricing. Sellers who overprice initially often see their homes sit 2.5x longer, upwards of 173 days, leading to a stale listing and requiring at least one price adjustment.
Prepare for a longer listing period than previous years. This can impact your finances and lifestyle especially if you have already purchased your next home and are carrying two homes or if you are still living in your home and need to maintain it show ready for a longer period of time.
How to find the opportunities as a buyer:
You have leverage and that leverage grows the longer a home has been on the market or in the higher price points or luxury segments. But if you are shopping below 600K in one of the faster turning micro markets, you do need to be prepared to act quickly. Available homes vary wildly depending on the town, so you may not find something that checks every single box.
You should be pre-qualified or ideally pre-approved for a mortgage before you even start touring homes or if you are using cash, you should be able to quickly pull updated proof of funds. You still have negotiating power in this segment, but you could miss an opportunity if your finances are not in order.
The main takeaway here is simple:
Whether you are moving up or downsizing in the Columbia County NY housing market, a one-size-fits-all strategy does not work. You need a hyper-local approach that respects the specific price tier of your home.
If you want to learn more, I’ve put together a complete, free resource. Head over to my Columbia County Real Estate Guide to get started. If you are thinking about listing your property this season and want a precise analysis of your home's 'sweet spot' value, you can reach out to me directly via email or call/text
