Half Yearly Housing Market Report 2014
Town of Newburgh NY
A snapshot in time of the Town of Newburgh NY housing market is shown here. We are six months into 2014 and time for an update on the local housing market. The first part of 2014 saw quite a bit of cold weather and things slowed down over the winter as always. Spring brings does seem to bring out new listings each year and this spring sellers jumped on the effort to put their home on the market. Buyers are always happy as they have much more to choose from. These trends are consistent with previous yearly numbers.
Active Listings – Town of Newburgh NY January to June 2014
So what homes are for sale? This chart shows the active number of listings over the last six months. Fluctuation occurs seasonally. Our current inventory of homes is at a 16.3 month supply indicating that we remain in a sellers market.
When inventory is up buyers have a good deal more to choose from. The competition to sell a home increases and pricing either remains consistent or is dropped. Sellers be aware that your home needs stand out from the rest. Pricing a home properly is what it takes to sell. Condition drastically affects the outcome of offers. Making sure the home is ready for sale can make all the difference in how fast a home is viewed and sold. The first few weeks a home is on the market are the most important. Understanding what has sold and what the competition is can help guide the listing price. Putting a home on the market ready to sell and priced properly is key to getting the highest and best offer the local market will bear.
SOLD Single Family Homes in the Town of Newburgh NY
January to June 2014
Town of Newburgh NY Home Sales Updates – June 2014
- In June the inventory of single family homes for sale increased to 275
- 12 properties in June were under the status of Bank Owned
- 48 new listings came on the market in June ( six of them Bank Owned Properties)
- The average list price was $328,338 ranging from $59,900 to $4,000,000
- There are 44 homes currently under contract – two went under contract in June.
- In June the Town of Newburgh had 22 properties transfer title to sold status.
- The average sold price was $ 237,781 spending an average of 168 days on the market ranging from $60,000 to $407,000
- In the last twelve months there were 202 closed sales with an average sold price of $230,022 spending an average of 137 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 16.3 month supply.
When I work with buyers the common trend on their wish list is to find a new home that speaks to value. They don’t want to just fall in love with a home, they want one that works for their individual needs.Who is shopping for a home in the Town of Newburgh? Buyers that are smart enough to recognize value when they see it. Gone are the days of shopping for a McMansion. Homes priced in the $200 to $300K are what is selling in the Town of Newburgh NY. Believe it or not, this includes some brand new construction homes too.
Knowing the homes that are selling in your neighborhood is important factor when making personal decisions about a home and your financial future. Never assume what you see online from the big companies about the value of your home. Computer generated numbers don’t portray the real picture of the local market. Finding out what the true sale price is takes a bit more research than just a Google search. We can provide that information and more for you with our FREE comparative market analysis.
Search All Town Of Newburgh NY Active Listings
Town Of Newburgh NY Real Estate Market Report June 2014
Resources and info for the Town of Newburgh NY
- Town of Newburgh NY Website
- Great Newburgh Enlarged City School District
- Newburgh Library
- A Bit of History of the Town of Newburgh NY
I hope you enjoyed reading this article. If you would like to receive more information please subscribe to my blog. No Spam No hassles, just info on local housing. Looking to buy a new home? Search the MLS for New Homes in the Hudson Valley. Feel free to contact me anytime at (845)-527-7115 or come visit me on Google+ Statistics represent single family homes for sale in Newburgh NY (source HGMLS ). Information is deemed reliable, but not guaranteed.