Reporting What We Already Know

Today, the Albany Business Review published an article titled "The Albany region neighborhoods where home prices have risen the most." The article is accompanied by this photograph, showing commercial buildings in the 400 block of Warren Street.

Photo: Donna Abbott-Vlahos | Albany Business Review

The article begins: "At this point, it's no surprise to anyone that home prices have gone up, up and up over the past few years. . . . What might surprise, though, are the neighborhoods where home prices have risen the most locally." It goes on to present a chart of the top fifteen locations, identified by zip code. The top location is 12307, Schenectady, where the median home price has increased 117.71 percent since 2018--from $61,055 in 2018 to $132,921 in 2023. The second highest in 12534, Hudson, where the median home price has increased 84.57 percent since 2018--from $210,720 in 2018 to $388,916 in 2023. Next on the list is 12414, Catskill, where the median home price has increased 78.25 percent since 2018--from $172,615 in 2018 to $307,694 in 2023.

The zip code 12534 takes in a much larger area than just the two square miles that are the City of Hudson. It would be interesting to know what the numbers are for the city alone, where one gets the impression the median home price these days is approaching $1 million.

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