Monday, December 11, 2023

GF home sales are up 29%; crave inventory

By Gordon Woodworth, Chronicle News Editor

Home sales in the City of Glens Falls have jumped 29.3 percent so far this year.

There were 97 sales through July 31, up from 75 in the same period last year.

Thirty-three of the 97 homes sold for between $100,000 and $150,000; 85 were less than $200,000.

“People want to be in Glens Falls,” said Julie Snyder of Realty USA. “They love the sidewalks, and they want to be able to walk downtown.

“The one drawback is the high taxes, but properties are going under contract very quickly, quicker than normal. They want the neighborhood schools, and to be close to downtown activities.”

Ms. Snyder said she’s sold 14 houses in Glens Falls this year, and another pending.

“Houses are moving better in Glens Falls than they ever have in my 24 years in the business,” said Pat Seelye, partner/owner of Remax Peak Performers.

He said that this past spring, he had lined up six appointments to show homes to an interested buyer, “and two days later, five out of the six had already sold.”

‘People call it a mini-Saratoga’

Tina Foglietta of Coldwell Banker Prime Properties said her company sold 21 homes in Glens Falls through July 31.

“If you list something, you’re likely to get multiple offers. Nothing is staying on the market long. If you’ve got a house in Glens Falls you’re thinking of selling, this would be a great time. The inventory is very low.”

She said interested buyers tell her “they want to be able to walk downtown, and say how much downtown has grown. They mention events like Take-A-Bite and LARAC and the other events the City is doing, and the really good restaurants downtown.

“People call it a mini-Saratoga. That’s an expression I hear a lot. They love the feel of Glens Falls…Homes are selling fast. You put them on the market and it’s gone immediately. We’ve had houses sold in a day, and it’s not slowing down.”

The pace isn’t slowing down

The numbers confirm it. From Aug. 25 to Sept. 7, there were 12 sales in Glens Falls. That’s more than one per business day.

Tina DeMarsh, owner of DeMarsh Real Estate, sold six houses in Glens Falls in the first seven months of 2017.

She said first-time homebuyer programs through the City’s community development office “is helping to drive the market.”

Mrs. DeMarsh said she sold a home to a couple “returning here, and they wanted to be close to downtown for the entertainment, and also for doctors and the hospital.”

She said Glens Falls “offers a huge variety of homes, from Tudor to Craftsman to Victorian. The City has a lot of unique, older homes that add a lot of charm.”

Ed Bartholomew, Glens Falls community development director, said the City has had an income-based first-time home buyers program “on and off since 2000. We were allocated 15 spots in the latest round, and 10 families or individuals have purchased homes within Glens Falls in the last year.

“It’s a very successful program that includes six hours of counseling,” he said. “We have a high success rate, with a one or two percent default or foreclosure rate.”

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