{"id":40664,"date":"2025-05-22T09:54:25","date_gmt":"2025-05-22T13:54:25","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=40664"},"modified":"2025-05-22T09:54:25","modified_gmt":"2025-05-22T13:54:25","slug":"quick-closings-on-maltas-town-homes-are-sign-of-a-healthy-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2025\/05\/quick-closings-on-maltas-town-homes-are-sign-of-a-healthy-real-estate-market\/","title":{"rendered":"Quick Closings On Malta\u2019s Town Homes Are Sign Of A Healthy Real Estate Market"},"content":{"rendered":"<figure id=\"attachment_40665\" aria-describedby=\"caption-attachment-40665\" style=\"width: 200px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-40665\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2025\/05\/cindyquade-v-200x300.png\" alt=\"\" width=\"200\" height=\"300\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2025\/05\/cindyquade-v-200x300.png 200w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2025\/05\/cindyquade-v.png 426w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-40665\" class=\"wp-caption-text\">Cindy Quade is the the broker owner of Signature ONE Realty Group.<br \/>Courtesy Signature ONE Realty<\/figcaption><\/figure>\n<p>By Susan Elise Campbell<\/p>\n<p>That the final 10 townhouses in the Thompson Farms development are expected to sell soon is one indicator of a healthy residential real estate market in Malta, as well as all of Saratoga County, according to Cindy Quade, owner of Signature ONE Realty Group. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The twin townhomes were built by Michaels Group Homes, with whom Quade has collaborated for more than 35 years, she said. Michaels Group is a third generation, quality homebuilder.<\/p>\n<p>The last street developed in the complex is a cul-du-sac with 12 townhomes.<span class=\"Apple-converted-space\">\u00a0 <\/span>Fifty percent of those homes sold within two weeks of coming to market, she said.<\/p>\n<p>\u201cSome clients waited for the cul-du-sac to open, but all the lots are great,\u201d Quade said,<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The land was a working farm on East High Street in Malta, where the Thompson Farms silo still stands.<\/p>\n<p>\u201cTownhomes are maintenance free and appeal to a wide market, not just empty nesters,\u201d said Quade.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>With a starting price around $450,000, Quade said first-timers and other buyers find they have the flexibility to get into a new, affordable home and to upscale some of the plans and features if they so choose.<\/p>\n<p><span class=\"Apple-converted-space\"><span class=\"\"><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span><\/b><\/span><\/span>The project has 58 side-by-side townhomes, two to a building, and with all the options homeowners would have with a single family home. Quade said Michaels Group in particular offers \u201ca lot of flexibility of design, and some people are adding sunrooms, finishing basements, and doing upgrades such as that.\u201d<\/p>\n<p>Malta has a small town ambiance and a strategic location minutes south of downtown Saratoga. It has easy access to Clifton Park and to everywhere, being right on Northway exits 12 and 13, she said.<\/p>\n<p>There are 250 businesses right in the community, including medical, day care, banking, and all types of shops and services. Plus, Malta\u2019s parks, recreation and many other amenities are a large draw to Thompson Farms, along with the maintenance free aspect of this neighborhood, she said.<\/p>\n<p>Signature ONE itself has offices in the heart of Malta\u2019s business district. Quade said the town \u201chas undergone a little bit of growing pains,\u201d and that the town board is \u201cvery tight and does a lot of good work,\u201d from her decades of professional experience.<\/p>\n<p>\u201cThey are very cognizant of the town\u2019s growth and development, keeping the commercial buildings downtown and the residences sprawling off of that,\u201d she said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cIt takes some time to get a neighborhood approved, but the town of Malta is trying to be very friendly with builders, and being sensitive to the type of growth they have for the residents,\u201d she said. \u201cGrowth is so important for a community to survive in today\u2019s market.\u201d<\/p>\n<p>The last few units of Thompson Farms may be subject to a price increase, Quade said, and that prices in the Malta area are volatile for all builders right now.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cConstruction costs are a strain on builders and on homebuyers who want to get into new homes,\u201d she said. \u201cAnd there is an extremely low inventory of homes on the market, which drives up resale prices.\u201d<\/p>\n<p>Some people have an appetite for the benefits of new construction versus resale. These include energy efficiency, all new systems, and the opportunity to customize and personalize their home, she said.<\/p>\n<p><span class=\"Apple-converted-space\">\u00a0<\/span>\u201cThroughout the Capital Region, construction is vibrant, and builders are putting up homes even though costs are high,\u201d she said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cNationally there is a downturn in residential real estate, but this area is protected in that we are slower to have those market shifts,\u201d she said. \u201cIt is the region itself that keeps the growth and the desirability to live here strong.\u201d<\/p>\n<p>Quade said that one may observe more townhouses being built in the area, but that doesn\u2019t necessarily mean the town favors them. Land use is a function of what is put in front of the town by developers.<\/p>\n<p>\u201cHaving that density of a townhome where you can take your lot and put two structures on it, builders can get a better return,\u201d she said. \u201cIt may be more feasible to build residences that way when costs are rising.\u201d<\/p>\n<p>There is a benefit of density to the town as well, such as less road maintenance. She said with Malta\u2019s small footprint and limited space to develop, density increases the tax base.<\/p>\n<p>\u201cAnd high tax revenue benefits everybody,\u201d she said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cThere is a place in this community for townhomes, and there is a place for single family individual home sites, and there is a place for larger plotted homes,\u201d said Quade. \u201cThe town can\u2019t control what comes across their desk, but they can control to a large degree what gets pushed forward.\u201d<\/p>\n<p>\u201cMalta has a great group of people and the leadership by Town Supervisor Cynthia Young is fantastic,\u201d she said. \u201cShe has been in this community a very long time, is very savvy, and has an open ear.\u201d<\/p>\n<p>\u201cYou can never make everybody happy,\u201d Quade said. \u201cWe will wait and see how things play out.\u201d<\/p>\n<p>Learn more at signatureonerealtygroup.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Susan Elise Campbell That the final 10 townhouses in the Thompson Farms development are expected to sell soon is one indicator of a healthy residential real estate market in Malta, as well as all of Saratoga County, according to Cindy Quade, owner of Signature ONE Realty Group. \u00a0 The twin townhomes were built by [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":40665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-40664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - 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