Current Market Conditions
May 18, 2013
The Town of Newburgh NY Real Estate Market Report is an overview of the number of active listings, homes under contract, and overall sales in the Town of Newburgh NY. Location, subdivisions and school districts affect price. The information provided can help both buyers and sellers when looking forward to purchasing or selling a home.
Neighborhoods can be broken down to give more specific trends. Keep in mind that Newburgh is divided up into the Town and the City of Newburgh. Zip codes can be shared by both locations. The Town of Newburgh shares four different school districts depending on where your home is located.
- There are 227 single family homes currently on the market (29 new listings this month down from 58 in April)
- The average list price was $302,916 ranging from $92,00 to $989,000
- There are 71 homes currently under contract
- In the past 30 days 15 closed sales (ten already in the month of May)
- The average sold price was $258,200 spending an average of 159 days on the market
- Year to date there have been 59 closed sales with an average sold price of $249,000 spending an average of 163 days on the market
- In 2012 there were 230 closed sales with an average sold price of $245,000 spending an average of 126 days on the market
- The Town of Newburgh NY home absorption rate is at a 15 month supply.
What does the absorption rate mean to buyers and sellers? The absorption rate is an estimate of how long it would take to sell our current inventory if nothing new comes on the market. It is based on how many homes sold in the last twelve months per month. Anything above a six month supply is a buyers market.
If you are looking for more detailed report, just ask. I’ll be happy to share that information with you and provide you with statistics within your neighborhood.
FEATURED AREA HOMES FOR SALE
These are a few of the homes currently available in the Town of Newburgh. Buyers and sellers can both benefit from knowing what is on the market. Sellers are wise to know what the competition is and how important it is to price your home correctly from the start.
Town Of Newburgh NY Real Estate Market Report | May 2013
Statistics represent single family homes for sale in the Town of Newburgh NY (source GHVMLS ). Information is deemed reliable, but not guaranteed.
This post was originally published at "Town of Newburgh NY Real Estate Market Reports May 2013" Like what you see? Don’t forget to subscribe to my blog to keep updated with the latest Hudson Valley Real Estate, Community News and Homes on the market.