Current Market Conditions Cornwall NY
Update – August 3rd, 2013
Houses in Cornwall NY are selling. The market did make some great improvements in July with 50% more homes closing than in the previous month. Homes continue to enter the market as sellers are looking to participate as interest rates are making slight increases. When interest rates rise it not only changes how much home a buyer can purchase, but how much a seller can get for his home. Prices are remaining relatively consistent at this point. Price it right, have a home in good condition, and the home will sell quickly. Buyers love a well priced home that is in great condition and are willing to pay more for those homes.
These figures are the current update for Cornwall and Cornwall on Hudson combined. More specific info is available upon request.
- There are 118 single family homes currently on the market (17 new listings this month down from 25 in June)
- The average list price is $411,811 (ranging from 321,900 to 3,990,000) The median price of the homes listed in June was $325,000
- There are 28 homes currently under contract
- In the month of July 2013 there were 18 homes that transferred title.
- The average sold price was $260,000 spending an average of 175 days on the market
- Year to date there have been 75 closed sales with an average sold price of $281,295 spending an average of 144 days on the market
- In the last twelve months there were 98 closed sales with an average sold price of $276,000 spending an average of 142 days on the market
- The Cornwall NY single family absorption rate is at a 14.5 month supply, much improved from June which was over a 17 month supply.While prices seem to be holding steady and improving some, it remains a buyer’s market.
If you are looking to buy or sell in the near future, or just want to know what your home is worth in the current market don’t hesitate to ask. Contact me for your FREE market analysis on your home now. I can provide a more detailed look of your specific neighborhood. Ask for your local Cornwall Real Estate Agent to help you navigate through the process. I look forward to hearing from you soon.
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+
This post was originally published at "Cornwall NY Real Estate Market Report | July 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.
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