Current Housing Market Conditions
Update – February 17th 2014
Town of Newburgh NY Real Estate Market Report
The Real Estate housing market in the Town of Newburgh NY continues to improve. Inventory has been decreasing over the last six months as buyers are moving up from NYC and relocate to our town. Buyers are happy to move north along the Hudson River.
Sellers are waiting until spring to put their homes on the market leaving buyers with fewer choices. A home listed during the winter can be a great marketing strategy as many wait until they see the first robin chirp before listing their home for sale. Competition for those that do put their homes on the market is less now making it a great time to put a home on the market.
Homes sell during the winter months. Serious buyers are out looking in spite of the terrible weather. Homes price right and in good repair are selling as buyers are braving the snow and ice to make their purchase. Our inventory is definitely dropping as sales continue to out number the listings that are currently for sale.
- There are 196 single family homes currently on the market
- 36 Short Sales and 2 Foreclosures Active Listings remain on the market
- The average list price was $305,400 ranging from $72,500 to $995,000
- There are 47 homes currently under contract with about 1/3 of those in the $200 to $300K price range.
- In January the Town of Newburgh had 14 sold properties
- The average sold price was $ 213,896 spending an average of 114 days on the market.
- In the last twelve months there were 212 closed sales with an average sold price of $241,734 spending an average of 143 days on the market. The majority of our inventory sold between $200K and $250K.
- A total of six homes sold over the $500,000 price point.
- The Town of Newburgh NY home absorption rate is at a 11.3 month supply
If you are looking to buy or sell a home it is important to understand the current local market. Check back soon for info on 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.
Active Listings of Homes for Sale Town of Newburgh NY Search Town of Newburgh NY Homes for Sale
Town Of Newburgh NY Real Estate Market Report | January 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.