Current Market Conditions Cornwall NY
May 22, 2013
The Cornwall NY housing market is making some progress. While the number of listings currently available makes for a buyers market, prices have begun to increase in the last few months. We are definitely seeing activity increase and even though it is spring, the number of listings is down from the previous month. Sellers entering the market that are well priced are seeing some good results. Buyers that are waiting for the perfect deal, need to act quickly as those homes disappear fast. If you are looking to put your home on the market it is a good time to do so.
These figures are the current update for Cornwall and Cornwall on Hudson combined. More specific info is available upon request.
- There are 118 single family homes currently on the market (18 new listings this month down from 28 in April)
- The average list price is $368,200 (ranging from $77,900 to 1,700,000)
- There are 35 homes currently under contract
- In the past 30 days 9 closed sales (five already in the month of May)
- The average sold price was $299,311 spending an average of 138 days on the market
- Year to date there have been 31 closed sales with an average sold price of $299,000 spending an average of 195 days on the market
- In the last twelve months there were 80 closed sales with an average sold price of $261,000 spending an average of 138 days on the market
- The Cornwall NY home absorption rate is at a 17+ month supply.
What does the absorption rate mean to buyers and sellers? The absorption rate is an estimate of how long it would take to sell our current inventory of homes if nothing new comes on the market. It is based on how many homes sold in the last twelve months per month. Anything above a six month supply is a buyer’s market and therefore these statistics reflect that Cornwall remains a buyers market.
Search the MLS – ACTIVE Listing in the Cornwall NYSearch Cornwall NY Homes for Sale
If you are looking to buy or sell in the near future, or just want to know what your home is worth in the current market don’t hesitate to ask. Contact me for your FREE market analysis on your home now. I can provide a more detailed look of your specific neighborhood.
Real Estate Market Report May 2013
Knowing what has sold in the past is helpful when either buying or selling a home. It gives you a better perspective of what prices you can expect when looking for a home, or selling one. If you are looking to purchase or sell a home in the Cornwall NY I would be happy to discuss your real estate needs and show you how I can help. I am your local real estate agent that is ready to guide you every step of the way.
- Properties for Sale in Cornwall, NY Between $0 – $100,000
- Properties for Sale in Cornwall, NY Between $100,000 – $200,000
- Properties for Sale in Cornwall, NY Between $200,000 – $300,000
- Properties for Sale in Cornwall, NY Between $300,000 – $400,000
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 GHVMLS ). Information is deemed reliable, but not guaranteed.