Now that June 2011 results are in, it's time to see how the real estate market is doing in Woodbury, NY (Orange County).
The following compares 2nd quarter 2011 to 2nd quarter 2010.
A quick assessment of the left hand chart above indicates selling prices have improved slightly in the Woodbury NY area over the last year, although houses are taking longer to sell (295 days on average, compared to 145 days a year ago.) The above also indicates sales in 2Q11 were flat from a year ago, and the number of listings taken remained relatively stable. It's important to keep in mind that 2nd quarter of 2010 included tax stimulus closings, so the above is not an apples to apples comparison. It does, however, suggest that 2011 is actually stronger than a year ago, since there is no tax stimulus in play this year.
In terms of the above right hand chart, which reflects total results in Orange County, NY, while prices remained relatively stable, the number of sales and total listings decreased in the last year, although this could be attributed to tax stimulus plans of 2010.
Bottom line, there is currently a healthy inventory of homes for sale (slightly under 200 homes in Woodbury and 3400 in Orange County). With the low mortgage interest rates, and great selection of homes, this is a perfect time for buyers in Woodbury and all of Orange County to purchase the home of their dreams!
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