A useful asking price starts with homes that resemble yours, not the most appealing number in a market overview. I would weigh recent sales alongside homes listed for sale, then account for your home's condition and features before you commit to a price.
In Latham, the latest market report puts the typical asking price among homes listed for sale at $499,400 for single-family homes, condos, townhouses and apartments. For those residential property types, the typical sale price was $420,000 in the latest market report. The latest market report lists housing supply, measured in months, at 1.44 for the same residential property types in Latham. The number of homes sold in the latest market report was 21 across those property types in Latham.
The asking-price and sale-price figures describe different measurements, so their difference does not tell us what buyers negotiated on a particular home. Limited reported housing supply makes a thoughtful launch worth planning, but it does not make any asking price appropriate. Your home's size, condition and features deserve more attention than a townwide figure when setting expectations.
Start with a review of recent sales of similar homes, noting meaningful differences in size, condition and features. Look separately at homes listed for sale that a buyer might consider alongside yours. Decide what preparation is worth completing before we settle on an asking price and begin marketing.
