Montgomery NY Real Estate Market Report | May 2013

By
Real Estate Agent with Key Properties of the Hudson Valley NYS DRE #40BO1055114

Current Market Conditions

June 11th 2013Montgomery NY Real Estate Market Reports | May 2013

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

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 Montgomery, NY (source HGMLS ).  Information is deemed reliable, but not guaranteed.

This post was originally published at "Montgomery NY Real Estate Market Report | 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.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
New York Orange County Montgomery Montgomery Ny Real Estate
Groups:
Posts to Localism
Local Expert
Buyer Information - What Buyers Need to Know in Today's Market
Bananatude
Hyper-Local
Tags:
market reports montgomery ny

Spam prevention
Show All Comments
Rainer
324,357
Scott Larson
BHHS/Utah Properties - Park City, UT
Park City, Utah Real Estate News

Hi Janis.  Buyers in your area would be wise to act quickly as you have one of the few remaining markets that are in a bit of a buyers market.  It does appear you are headed in the right direction though and I wonder how long before you are in a sellers market as well.

Jun 11, 2013 06:57 AM #1
Rainmaker
774,028
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

Good news for the Montgomery market-and Janis, it is so important that homeowners looking to sell, adjust their price so that they can compete with new construction.

Jun 11, 2013 06:58 AM #2
Rainmaker
875,583
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Time for buyers to get off the fence. Prices are not going to drop and with rising interest rates even if the prices go down the rates will be going up and the value is less. 

Jun 11, 2013 10:24 AM #3
Rainmaker
771,587
Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great information on your local market.

Thank you for sharing this important information about the housing market in your area!

Jun 11, 2013 08:31 PM #4
Rainmaker
875,583
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Bob - It certainly is good to have as much info as possible when you are buying a home 

Jun 12, 2013 10:06 AM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
875,583

Janis Borgueta

LIC RE Salesperson
Questions? Ask Janis
*
*
*
*
Spam prevention

Additional Information