Modest rate drops giving local real estate renewed energy

But challenges await, says Mary Wilson.

Miranda Real Estate’s Mary Wilson says that while moving in winter might be daunting, a different kind of challenge that roars in come spring might change your mind.

The Capital Region housing market is showing renewed energy as mortgage rates begin to ease, says Miranda Real Estate Group’s Mary Wilson. “Even modest rate drops have brought many buyers back off the sidelines,” she says, “increasing showing activity and multiple-offer situations across much of the region.”

The challenge? Inventory remains tight. “While demand has picked up, the number of available homes hasn’t kept pace,” Wilson says, “especially in popular price points under $500,000.”

“Well-priced, move-in-ready homes” — such as this turnkey beauty with a deck and fully-furnished basement —”are still selling quickly, often within days,” Wilson says. “with buyers finding they need to be prepared and decisive.” (Listing at 19 Aurora courtesy of Renee Komazenski of Miranda Real Estate Group)

For sellers, this continues to be a favorable environment. “Lower rates mean a larger pool of qualified buyers, and limited inventory helps support strong pricing,” she says. “For buyers, strategy matters more than ever. Understanding timing, local micro-markets, and negotiation options can make all the difference.”

Wilson says that as we head further into the year, the market isn’t slowing; it’s becoming more competitive. “This is the moment when sellers stand out,” she says. “Would you rather compete in a marathon with 50 homes, or 300 once spring inventory hits? Timing matters, and right now, the odds are in sellers’ favor.”

Inventory is especially tight for homes on the market for less than $500k, such as this 3-bedroom, 1-bath home that sits on 1.34 private acres in Middle Grove. (Listing courtesy of Jennifer Comstock, Ameristar Home Realty LLC)

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