Current Housing Market Conditions
Town of Newburgh NY Real Estate Market Report
Update – May 15, 2014
The Town of Newburgh NY housing market for April shows a 1/3 increase of homes that entered the market. Seems that everyone waited for warm weather, blue skies and a sunny day to list their home for sale in the Town of Newburgh.
What does that mean? Buyers have choices! More homes on the market means that sellers need to take care to make that first impression . The day the home enters the housing market is the day a home needs to be ready to impress buyers. Painting, de-cluttering and those repairs that you have been meaning to do should be done first prior to listing. Supply of more homes means there is competition and lower pricing can follow. If your home outshines the competition by condition then you have the advantage. Many factors go into how and at what price a home will sell.
New homes that entered the market also saw some higher price points this time around. Home owners looking to relocate or downsize appear to have decided to jump into the market now and move on. Days on market for these homes may be longer than than lower priced homes. They will sell if they are at the fair market value that can be supported when a buyer applies for a mortgage. Good to see that the high end buyer will now have more choices available to them besides new construction.
Current info on the Town of Newburgh NY Home Sales:
- There were 239 single family homes for sale in April 2014
- Six properties in April were under the status of Bank Owned
- 64 new listings came on the market in April
- The average list price was $368,938 ranging from $69,900 to $1,750,000
- There are 41 homes currently under contract
- In April the Town of Newburgh had 9 sold properties
- The average sold price was $ 222,344spending an average of 157 days on the market.and ranged from $165,000 to $375,000
- In the last twelve months there were 207 closed sales with an average sold price of $238,593 spending an average of 138 days on the market. The majority of our inventory sold between $200K and $300K.
- The Town of Newburgh NY home absorption rate is at a 13.85 month supply.
Comparing the results from the month of March, our numbers of sales and pricing has not changed much. Our buyer pool is being more cautious with their purchasing power. Everyone is looking for the best deal out there. I am seeing condition of a home as one of the biggest obstacles of a deal not coming together. If you are looking to purchase or sell a home in the Town of Newburgh ask for more details about your specific neighborhood. Let me show you current information that can help you with your personal real estate needs.
Town Of Newburgh NY Active Listings
Town Of Newburgh NY
Real Estate Market Report April 2014
published by: Janis Borgueta Key Properties of the Hudson Valley in Newburgh NY. Her blog is about living, working and Real Estate in The Hudson Valley. Information here is a community service to the public. Please subscribe to this blog. When you are looking to buy a new home, Search the MLS for New Homes in Newburgh NY. You can contact Janis at (845)-527-7115 or find her on Google+ Statistics represent single family homes for sale in Newburgh NY (source HGMLS ). Information is deemed reliable, but not guaranteed.