Metropolitan Statistical Area (MSA):
Glens Falls, NY is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Glens Falls, NY metropolitan statistical area (MSA) has seen some housing market trends in recent years. The most notable trend has been the decrease in home prices, which has made purchasing a home more affordable for many buyers. Additionally, the number of homes on the market has increased, giving buyers more options to choose from. Lastly, the average days on market (DOM) for homes has decreased, meaning that homes are selling faster than they have in the past.
These trends can be attributed to a number of factors, but one of the most significant is the decrease in population growth in the MSA. This has led to fewer people buying homes and more people selling their homes, resulting in lower prices and more inventory. Additionally, job growth in the area has been slow, which has also contributed to fewer people buying homes as they may not feel as secure about their future income prospects.
Despite these trends, there are still many reasons to believe that real estate in the Glens Falls MSA is a good investment. The area is still relatively affordable compared to other parts of New York State, and it offers a good quality of life with access to amenities like hiking trails and lakes. Additionally, there are several large employers in the area that provide stability for workers. For these reasons, we believe that real estate values will eventually rebound in this region and those who purchase property now will be well-positioned for future growth.