The real estate market certainly experienced a challenge represented in the mortgate rate market.  

The 2023 Capital Region real estate market was less active compared with 2022 as you can see from the comparison bar graph to the left.  


The incremental increase in mortgage interest rates certainly had an impact in how many houses were sold during 2023.


The four principal counties which make up the Capital Region real estate market place was down by 22.3% in the number of houses which were sold compared with 2022.  Here is the percentage breakdown by County:


CountyPercentage of Decline (by unit sales)
Albany22.9%
Rensselaer24.3%
Saratoga23.9%
Schenectady17.7%


Mark Phoenix

Mark Phoenix

Licensed Real Estate Broker/Owner

Mark Phoenix Realty, LLC

markphoenix@markphoenixrealty.com

(518) 496-9313

(518) 556-2346
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