What are Town of Newburgh NY Homes Worth in August 2015?
Town of Newburgh NY Housing Market Update
Home Values for the Town of Newburgh NY
Town of Newburgh home sales are consistent. First time buyers are moving in, some buyers are relocating,”empty nesters” are downsizing, while others want a big home to accommodate their large family. Overall, inventory is up for the last few months. Sales are consistent though. Our prices appear to be creeping up in some price points, but homes in the higher ranges are not selling as fast. Our most popular price point is between $200,000 to $250,000 for a single family home in the town. In contrast only one home sold over $500,000.
Town of Newburgh NY Home Sales:
- There are currently 288 single family homes for sale
- 49 new listings came on the market in August up 9 compared to July
- The average list price was $322,684 ranging from $48,900 to $3,220,000
- There are 60 homes currently under contract in the Town of Newburgh
- 25 properties transferred title in September up 5 from August
- The average sold price was $ 236,000 up from $229,300 in July
- The most expensive property sold was $628,000
- The least expensive property sold was $60,000
- 1 new construction home transferred title in August 2015
- The average number of days on the market was 102 down from 126.
- The Town of Newburgh has 15.43 months of inventory showing a continued trend of more inventory
- 224 homes were sold in the last 365 days
- Compare this with August 2014 Market Reports
SOLD Town of Newburgh NY Homes by Price Range August 2015
If you compare last August to August 2015, inventory is up 11% for the month. Increased inventory provides our buyers with a good number of homes to choose from. Interestingly enough though, buyers complain about the inventory. The critique is that many homes “need work”. Homes that are in good condition and not over priced go quickly and leave others behind to linger. Many resale homes are needing to adjust pricing to reflect condition. Appraisals seem to be the final say when it comes to a truly over priced home, but only after buyers decide if a home is worth buying.
Homes SOLD in the Town of Newburgh NY August 2015
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Contrary to what you might expect, getting a full price offer is not unheard of in this market. While prices haven’t gone up much, a nice home, requiring few updates that is properly priced is rare. Showing great value worthy of a buyer moving forward is key. Buyers wants a good deal, but in the end they will pay fair market value for a home. I have never met a buyer that wants to overpay.
Buyers are more savvy than ever before with all the information available on the internet. As a seller you should have the same advantage. Whether you buy in California or New York, it is the local market matters and you should know what is selling and what sold.
Are you looking to buy or sell? Make sure to plan ahead. Getting pre approved is what smart buyers do early on. It is not just what your mortgage payment will be, but talking about closing costs and how that works too. Ask me how?
Call for more info on how we can set up a search and find a home for you now. Not tech savvy? No worries i can do that for you. Let’s talk about what you are looking for. Contact me now.
Search the MLS for Town of Newburgh NY Homes …
Housing Market Updates August 2015 Town of Newburgh NY
SEARCH the Newest Listings for the Town of Newburgh NY
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- Town of Newburgh NY Website
- Past Real Estate Market History for the Town of Newburgh NY
- Great Newburgh Enlarged City School District
- A Bit of History of the Town of Newburgh NY
Want to learn more? I write local market updates every month. Please feel free to read and share. If you would like to receive more information please subscribe to my blog. No Spam No hassles, just info on local housing. Looking to buy a new home? Search the MLS for New Homes in the Hudson Valley. Feel free to contact me anytime at (845)-527-7115 or come visit me on Google+ Statistics represent single family homes for sale in Newburgh NY (source HGMLS ). Information is deemed reliable, but not guaranteed.