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Million-Dollar Homes

Monday, July 18th, 2005 · No Comments

24120736_lg.jpg My my own home aside, one of my other favorite homes in Saratoga Springs is on the market for more than a million dollars. I can’t fathom owning a place like this — imagine what the upkeep would be like. “The most historically photographed home in Saratoga Springs, this gracious Victorian has been completely remodeled and professionally decorated. The Union Avenue property includes a carriage house w/plans for guest quarters.”

Even if you could afford to make a half-million dollar down payment, you’d still have a million-dollar mortgage. Of course, this may look like a bargain for anyone who’s used to the San Francisco or New York City real estate markets.

Home prices topping $1M far more common:

From 1994 to 2000, eight homes sold for $1 million or more in Albany, Rensselaer, Saratoga, Schenectady, Schoharie and Montgomery counties.

Currently, there are 50 homes on the market in the same six counties, according to the Greater Capital Association of Realtors Inc., which tracks real estate sales in the area.

Real estate agents around the Capital Region are selling more million-dollar homes to local and out-of-town buyers who can afford a luxurious primary residence and/or second home in a resort area.

The higher sale prices are evidence of a robust housing market and the declining availability of homes in the most popular locations in the Capital Region.

Tags: saratoga springs