Current Housing Market Condition
Year End Housing Market Update for 2013
Housing Sales are UP!
2013 Year End Market Statistics for New Windsor NY
The end of the year housing statistics are in for New Windsor NY. Home sales rose at a decent pace ending at 16.1% for the year. Seems that buyers found value in the area and were happy to make offers, and get to the closing table quite a few time this year compared to 2012. The disappointing news for sellers is that the prices are down for the same time frame. Short sales and bank owned properties are still clouding the inventory when it comes to pricing. As more homes are sold we are hopeful that the pricing becomes more stable. New Windsor is located 60 miles north of New York City and remains a great location for commuters. People looking to live in the suburbs and work in the city find the area the perfect location. Popularity will keep sales up and with prices so affordable in the area New Windsor should continue to see sales do well this year in 2014.
- 145 homes sold in New Windsor for the year 2013
- Median sale price of these homes were $215,000 with 77 Days on Market
- Average sales price was $225,313 spending approximately 117 Days on Market.
- The most expensive home sold was at $475,300
- The least expensive home sold was $50,000
- 36 homes sold between $200,000 to $249,000 which was the most popular price point
- 24 homes sold between 160,000 and 200,000 the second largest price of homes
- 16 homes sold between $140,000 and $159,900
- 6 homes were new construction
- 4 homes sold over $450,000 for the entire year
- 21 homes were in the short sale or bank owned status for 2013 that transferred title
- Current number of homes for sale is 138
- 15 homes in New Windsor are currently under contract
- the absorption rate for the New Windsor as of December 31, 2013 is at 11.42 months of inventory.
The New Windsor inventory of homes is decreasing slightly and homes are slow to enter the market. Only 11 homes were listed during the month of December. The prices are affected by short sales and bank owned properties. As sales eliminate some of the older inventory and new homes are entering the market we are hopeful that pricing will stabilize soon. Value is key when purchasing a home and therefore many are happy to be able to afford to purchase a home. Rents are expensive and in some situations a mortgage can be less than what is paid for a monthly lease.
Looking at the last three years shows that our market is down slightly this year compared to prices from the last two years. The volume of homes sold has increased this year as buyers see value for location, and pricing. Some homes are actually seeing multiple offers and scooped up when a really great value hits the market.
- 2011 – 122 Homes Sold – Average Price – $257,600
- 2012 – 124 Homes Sold – Average Price – $239,897
- 2013 – 145 Homes Sold – Average Price – $225,313
The phones are ringing with buyers that have been waiting until after the holidays. Homes priced right are disappearing quickly, and a few have had multiple offers. While the area is seeing increased activity we do have a way to go for a stable market and sellers finding that they are getting closer to the prices they were hoping for this year.
December 2013 Monthly Breakdown of Sales
- A total of 18 single family homes sold (compared to December of 2012 having 19)
- Average price was $231,923
- Average home spent 80 Days on the market
- Most expensive home sold was $370,000
- The least expensive home sold was $84,700
During the winter months less homes enter the market. Many sellers prefer to show off their homes with green grass and flowers in the yard. Waiting for the spring isn’t always the best plan. A good number of the buyers we see are ready now and end up with less to choose from. Highly motivated buyers show up even when it is cold outside.
Search the MLS – ACTIVE Listing in the New Windsor NY
- Properties for Sale in New Windsor, NY Between $100,000 – $200,000
- Properties for Sale in New Windsor, NY Between $200,000 – $300,000
- Properties for Sale in New Windsor, NY Between $300,000 – $400,000
- Properties for Sale in New Windsor, NY Between $400,000 – $500,000
- Properties for Sale in New Windsor, NY Between $500,000 – $600,000
- Properties for Sale in New Windsor, NY Between $600,000 – $700,000
- Properties for Sale in New Windsor, NY Between $800,000 – $900,000
- Properties for Sale in New Windsor, NY Between $1,000,000 – $1,100,000
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 New Windsor 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.
New Windsor NY December 2013 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 Newburgh NY (source GHVMLS ). Information is deemed reliable, but not guaranteed.