The Montgomery NY real estate market is seeing increased sales along with new homes entering the market. New construction and “to be built” homes are entering back in the competition for buyers. Sellers competing with new construction need to make sure that their resale home is priced properly to compete. Interest rates are hinting to continue to be on the rise and have some buyers jumping off the fence and into the market. Many buyers are finding that homes are disappearing off the market before they get a chance to take a look. Still “a buyers market” with the amount of inventory we have, note that this does include some short sales and foreclosures that have been on the market for quite a while. The number of homes that are now under contract is up from last year at this time.
There are 117 single family homes currently on the market (22 new listings in May up from 18 in April)
The average list price is $215,000 (ranging from $30,000 to 999,999)
There are 25 homes currently under contract
In May there were 11 homes that closed and transferred title ( up from 8 closings in April)
The average sold price was $265,025 spending an average of 145 days on the market
39 closed sales from January 1st of 2013, with an average sold price of $255,073 spending an average of 170 days on the market
In the last twelve months there were 106 closed sales with an average sold price of $255,174 spending an average of 154 days on the market
The Montgomery NY single family residential home absorption rate is at a 13 month supply.
The information here is a reflection of the Town of Montgomery and includes the Village and Walden. This is a snapshot of the housing market in Montgomery NY available for you to review. Both buyers and sellers can gain an advantage in the Montgomery NY real estate market. I can provide you with more detailed information for your specific location. Employ the services of a local Montgomery NY real estate agent that knows the local market. Let me show you how. Call me at 845-527-7115 to find out what your home is worth or to discuss your real estate needs. Ask for a FREE Comparative Market Analysis and know what your home is worth today. I look forward to hearing from you soon.
Montgomery NY Real Estate Market Report | May 2013