Current Housing Market Conditions
Town of Newburgh NY Real Estate Market Report
Update – April 22, 2014
The Town of Newburgh NY continues to move ahead slowly but surely. The inventory of homes for March was on the rise at 43 new homes. Double the number of new listings entered the market for March over February. Our average price point of most sales remains between $200K to $250K for sold homes. Sellers were busy over the winter to gearing up for a hot spring. Getting homes ready for sale is an important part of the process to sell. Cleaning out a home can take time and energy, but worth the efforts. The temperature outside is just starting to warm and agents are out showing properties. Seems that buyers have been waiting to see what new inventory would arrive on the market before taking the plunge to buy homes. Many properties disappear rapidly when they have something new to offer an anxious buyer. As always location, condition and price point are the key factors of selling a home quickly and for the highest and best price.
- There are 203 single family homes currently on the market
- 43 new listings came on the market in March
- 7 Bank owned properties are part of our inventory
- The average list price was $303,651 ranging from $72,527 to $995,000
- There are 16 homes currently under contract
- In March the Town of Newburgh had 15 sold properties
- The average sold price was $ 254,364 spending an average of 95 days on the market.
- Only one home sold over the $500 K price point during the month of March.
- In the last twelve months there were 215 closed sales with an average sold price of $240,472 spending an average of 140 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 11.3 month supply. This indicates we are still in a buyers market.
Although the number of closings for January was up, our total number of sales for the first three months of 2014 remained consistent with the same time last year. Prices continue to remain about the same for the last twelve month. The snow did keep people from buying and looking on some days, but serious buyers always seem to find their way out to look at homes. Spring has brought out new buyers and offers on homes for sale. A busy time of year with many buyers spending a great deal of time searching for that perfect place to call home. If you are looking to sell your home, now is the time to get it ready, and get it sold. Call me for info on how to make that happen.
Town Of Newburgh NY Active Listings
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Town Of Newburgh NY
Real Estate Market Report March 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.