Housing Market Sales 2014 in the Cornwall NY
What homes SOLD last year in the Cornwall NY?
Cornwall NY Year End Housing Market Update for 2014
The 2014 numbers are in for the Cornwall NY single family home sales. Home sales in Cornwall dropped this year compared to last. After rising dramatically from 2012 the numbers backed down but are still above the previous two years. The great thing that we are seeing is that prices are stabilizing. The numbers are up some, but more importantly for the higher end part of the market we are seeing sales. Cornwall only had seven short sales close for the entire year that rids more of these properties out of the market. Our absorption rate rose this year to 9.6 months with low inventory and somewhat slower sales.
- 95 homes sold in Cornwall for 2014 (down from 124 in 2013)
- Median sale price of these homes were $290.000 with 88 Days on Market
- Average sales price was $306,595 spending approximately 168 Days on Market.
- The most expensive home sold was at $800,000
- The least expensive home sold was $75,000
- 15 homes sold below $200,000 in 2014
- 16 homes sold between $200,000 to $249,000
- 16 homes sold between 250,000 and $300,000
- 21 homes sold between 300,000 and $400,000
- 13 homes sold between $400,000 and $500,000
- 7 homes sold Over $500,000
- 7 homes were in the short sale or bank owned status for 2014 that transferred title
- Current number of homes for sale in Cornwall NY is 76 Active homes listed
- 16 homes in Cornwall are currently under contract
- the absorption rate for the Cornwall as of December 31, 2014 is at 9.6 months of inventory.
In reviewing our last four years of sales, pricing is steadily climbing back up to 2011 numbers. Prices are up for the third year in a row. We saw less sales this year, but a higher end market was definitely in the mix. Not only were there more homes over $400,000, but we saw those prices up to the $800,000 price point. The higher end homes have not been selling as easily. Our buyers continue wanting these upscale properties known for value. The location, and pricing works and our buyers are moving forward with purchasing these homes.
- 2011 – 76 Homes Sold – Average Price – $313,959
- 2012 – 78 Homes Sold – Average Price – $259,921
- 2013 – 124 Homes Sold – Average Price – $291,135
- 2014 – 95 Homes Sold – Average Price – $306,595
We are hoping for a strong 2015 in Cornwall NY. 2014 showed us that more higher end homes are selling compared to the surrounding towns. Popularity of the location, school districts and amenities are what makes Cornwall so appealing to buyers.
December 2014 Monthly Breakdown of Sales
- A total of 6 single family homes sold (compared to December of 2014 having 9)
- Average price was $310,305
- Average home spent 95 Days on the market
- Most expensive home sold was $380,000
- The least expensive home sold was $243,300
- 76 Homes are currently listed
- 16 homes are currently under contract.
December 2014 was a bit more quiet than last year. A small community of homes and numbers for one month can’t indicate any trend. We already have sixteen contracts for home purchases in 2015. Our small inventory will keep our buyers from having choices. Prices may continue to increase, but without homes to sell they will need to wait until something that works comes on the market, or move to a surrounding town. If you are looking to sell your home in Cornwall, we have buyers looking now.
This market report is a complete summary for the Town of Cornwall and Village of Cornwall NY. The village is known for its historic architecture and amazing Hudson River view homes. Cornwall is located 60 miles north of New York City and remains a popular location for commuters.
Search the MLS – ACTIVE Listing in Cornwall on Hudson Homes for Sale This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available Page One
Past sales history is helpful when either buying or selling a home. It gives you a better perspective of what prices you can expect. Knowledge is power when pricing a home or making an offer. Let me know when you are ready, or if you just want to discuss your future needs. I am your local real estate agent that is ready to guide you every step of the way.
Cornwall NY December 2014 Year End Market Report
published by: your real estate expert Janis Borgueta Key Properties of the Hudson Valley as a community service in Newburgh NY. To receive more real estate information please subscribe to this blog. Looking to buy a new home? Search the MLS for Homes in the Hudson Valley. You can contact Janis at (845)-527-7115 or find her on Google+
Statistics represent single family homes for sale in Cornwall NY (source HGAR ). Information is deemed reliable, but not guaranteed.