Lake George currently leans toward sellers, with the market gauge at 37 on a seller’s market scale. At the same time, an unusually high 25.3 months of supply points to a lot of inventory relative to recent sales. Only one home sold in this rolling three-month window, highlighting how slow closed activity has been.
Price trends show a mixed picture in this rolling three-month view. The typical home value is about $499,700, down modestly year over year, while the median list price is up more than 18 percent from a year ago, suggesting sellers are aiming higher even as values edge down.
Conditions have shifted sharply from a year earlier, when June 2024 showed just 3 months of supply and every sale closing above list price. Now, no recent sales closed over asking, but the average sale-to-list ratio has improved by more than 8 percent year over year to about 96 percent, and homes that do sell are moving faster, with median days on market plunging from around 76 days in early 2024 to just 5 days. New listings and pending sales are both down roughly 50 to 80 percent compared with last year, pointing to thinner overall activity. Buyers navigating these crosscurrents and sellers recalibrating expectations can both benefit from Agent Pronto’s help in finding an experienced local agent.
