Home sales climbed 6% in the Capital Region in February after a lackluster January, the Greater Capital Association of Realtors reported.
Pending sales were up 8%, while the average sale price was up 10% to $220,942. The median price, at which half the homes sold for more and half for less, rose 4% to $189,740.
The data cover an 11-county region that includes the Albany-Schenectady-Troy, N.Y., metropolitan area.
"Sellers are getting a generous number of offers in this market," said Joel Koval, a RealtyUSA broker who is president of the real estate association.
"The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers."
Inventory of homes for sale fell 19% over the past year, with just a 5.1-month supply on the market, down from 6.8 months in February 2016, the association said.
Soft January sales were blamed in part on the lack of available homes for sale.
