What is My Town of Newburgh NY Home Worth?
Town of Newburgh NY Housing Market Update February 2015
Home Values for Town of Newburgh NY
The Town of Newburgh housing market is moving along in a steady fashion. Buyers are out looking and making offers on homes. To be sure, as the weather finally changes you can expect to see more homes enter the housing market. February was a cold and snowy month, and even so, buyers decided it was time to look for their next home, which kept the numbers of homes listed, under contract and sold rather consistent.
Current info on the Town of Newburgh NY Home Sales
- There are 194 single family homes for sale – consistent with last month
- 23 new listings came on the market in February
- The average list price was $336,900 ranging from $45,900 to $2,995,000
- There are 30 homes currently under contract. 10 of those homes went under contract
- 19 properties transferred title in February, compared to January with 18 Sold homes
- The average sold price was $ 224,575.
- The most expensive property sold was $511,798
- The least expensive property sold was $65,000
- 3 new construction homes sold in February 2015
- The average number of days on the market was 183 days on the market.
- Two homes sold were bank owned.
- The majority of our inventory sold between $200K and $300K range for the month of February
- The Town of Newburgh has 11.52 months of inventory and remains in a buyers market.
Pricing of SOLD Single Family Homes for February 2015
Many sellers will wait until the spring thaw before cleaning the yard, planting flowers and making their house look more like a home. Yet with all the nasty weather this February we had 23 new listings of homes for sale in the Town of Newburgh. The seasonal statistics say we should be seeing a surge in the next few weeks.
Pricing of homes in the area continues to encourage buyers and disappoint sellers. The numbers having been moving sideways for a while now. Home buyers are not looking for homes that are large and expensive to maintain. Affordability is more important as buyers are more cautious with their decisions. Many clients are still getting FHA mortgages, while other are paying 20 to 30% down and some are paying cash. The value in many homes can be seen in location, taxes, schools and amenities available. While some prefer shiny and new, a good number of our buyers stick with resales for their affordability.
Since the weather has finally calmed down a bit and a major blizzard seems less likely than it did a month ago the influx of spring homes entering the market is imminent. Our phones have been ringing with many potential sellers looking for a comparative market analysis to better understand what their options are. Buyers are getting pre-approved with local lenders, searching online for homes, and scheduling appointments to see them. Many buyers that were waiting for the snow to melt are finding that many homes are no longer available. Builders are pursuing permits and some new construction homes will go up on spec as model homes. Spring is just around the corner and we are all excited for a great Spring. I for one am hoping for some warm sunshine after our long cold winter.
Is it time to sell your home? Tis the season! A local real estate salesperson is what you need to discuss the current values. Details about your neighborhood are best when your local agent lives and works in the same community. Knowledge is power in the real estate market and making sure the numbers are right can save you a ton of cash when buying or selling. While I can’t change what the numbers are, I can inform you best on what to expect and how to move forward in a challenging market. Call for more info, or send me an email now. firstname.lastname@example.org and 845-527-7115 is my direct line. I look forward to hearing from you soon.
What’s My Town of Newburgh NY Home Worth in February 2015?
Learn more about the Town of Newburgh NY
- 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.
Town of Newburgh Map [map id=”3″]
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