Current Housing Market Conditions
Update – August 4, 2013
Town of Newburgh NY Real Estate Market Report
While more homes came on the market in the month of July, the number of sold homes also increased. Our basic inventory is down and although improving, we are still in a buyers market. It would take us 14 months to clear out the current inventory if no new homes appeared on the market.
- There are 260 single family homes currently on the market (42 new listings in July)
- The average list price was $294,000 ranging from $77,400 to $995,000
- There are 50 homes currently under contract with the median list price of $239,000
- In July the Town of Newburgh had 21 sold properties
- The average sold price was $ 254,800 spending an average of 124 days on the market.
- Year to date there have been 113 closed sales with an average sold price of $ $257,000 spending an average of 145 days on the market. Definitely more than last year.
- Last year the first seven months had 88 closed sales with an average sold price of $260,100 spending an average of 138 days on the market.
- The Town of Newburgh NY home absorption rate is at a 14 month supply. This is down from June. Improving, but still indicating we remain in a buyers market.
While prices have not changed much, the number of homes sold is definitely showing improvement.
Homes always need to be priced right to sell quickly. In this market buyers want their expensive investment to make sense. Although which home to choose is made with some degree of passion, buyers are looking to make sound financial decisions when it comes to home ownership. Unlike other summers in the recent past, more general activity on both sides of buying and selling has entered the market.Interest rates have increased a bit and buyers want to get the best deal and lock in a good rate.
Town of Newburgh NY Active Listings
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Town Of Newburgh NY
Real Estate Market Report July 2013
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 GHVMLS ). Information is deemed reliable, but not guaranteed.
Map of the Town of Newburgh NY [map id=”3″]