October's First-Time Homebuyer Report for Colonie

Colonie is much younger than the rest of New York, with a median age of 44. It's affluent as well, with a median income of $67,433 per household. Detached homes account for 100% of the area's current housing market. Topping the list of best schools in the city is Menands School.

Culture

If you're looking to explore the best restaurants in Colonie, then check out Delmonico's Italian Steakhouse, Buca di Beppo Italian Restaurant, and Smokey Bones Bar & Fire Grill, Foursquare's most popular places to eat. A good place to get a cup of coffee is Starbucks. Lastly, Empire Wine and Liquor, Bed Bath & Beyond, and ShopRite are well-known places to shop.

Price Range

Home values in Colonie are generally in line with others in the state with a median home value of $199,900 and an average list price of $337,761. The Colonie market showed strong improvement in this week's report, as the number of home sales rocketed 42.9%, pushing the total to 10 homes sold over the last 30 days.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Colonie:

$184K   $179K   $174K  

Typical Dwelling

The typical dwelling in Colonie is a three-bedroom detached home worth about $215,368. To purchase a similar home, a buyer with good credit and a $43,074 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,383 monthly payment. The property tax rate is $20.98 per $1,000 of taxable assessed value.

Get started right now by checking out Colonie homes for sale or reviewing Colonie real estate trends.


Data reported through 10/13/2016

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