Current Housing Market Conditions
Update – March 13, 2014
Town of Newburgh NY Real Estate Market Report
The Town of Newburgh NY housing market showed another month of improvement. Inventory decreased again in February and sales increased in numbers. The average price point of most sales remains between $200K to $250K on average of homes sold. The number of days on market remains consistent and taking over four months to sell. That is slower than we would like to see. Buyers are still taking their time making decisions on what home to pick. We still remain in a buyers market as there is still a 10.3 month supply of homes for sale.
Sellers are gearing up for the spring. February saw 21 new listings enter the market. Our cold, hard, icy winter did not allow for thoughts of an early spring to encourage any sellers. Many took the chance to list their homes during the winter to get a head start on any surge that could occur. I did not see a lack of buyers out this winter. Seemed every time we had a snow storm I had buyers out looking for a new home. Once we have some nice warm days that will only increase the number of buyers out looking. I saw my first robin chirp while out showing properties last week. A foot of snow on the ground, but she was out announcing that March arrived and time for sellers to list their homes.
- There are 182 single family homes currently on the market
- 21 new listings came on the market in February
- 32 Short Sales and 1 Foreclosure Active Listings remain on the market
- The average list price was $310,527 ranging from $72,500 to $995,000
- There are 54 homes currently under contract
- In February the Town of Newburgh had 17 sold properties
- The average sold price was $ 252,945 spending an average of 178 days on the market.
- In the last twelve months there were 212 closed sales with an average sold price of $256,734 spending an average of 148 days on the market. The majority of our inventory sold between $200K and $250K.
- The Town of Newburgh NY home absorption rate is at a 10.3 month supply
The information in this report is useful and can help when you are looking to buy or sell your home. Each month the numbers can vary greatly and are not the entire picture of what is happening. They are meant to give you a snapshot of info but it is not the complete picture of any specific location. Looking at trends and feeling the pulse of the specific neighborhood is what I can help you with. I live in Newburgh and understand the market variations.
If you are looking to buy or sell a home it is important to understand the current local market. Check back soon for more info and stay in touch with changes in the market. I can help you sift through all the info you hear from the news. When you are ready, give me a call to set up an appointment and go over the details with you. An informed buyer or seller is one that is able to make the best decisions. Your home is most likely to be your most expensive purchase and asset. Learn more about the true value of your home.
SEARCH for your next home….Active Listings of Homes for Sale Town of Newburgh NY
Town Of Newburgh NY
Real Estate Market Report February 2014
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 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 GHVMLS ). Information is deemed reliable, but not guaranteed.