This is an overview of information on the Housing Market in the Town of Newburgh NY. Location, subdivisions and school districts affect price. Buyers and sellers benefit from this information when looking forward to purchasing or selling a home. Knowing what is happening in your location can help with decisions when buying or selling a home. If you are looking to buy or sell I can provide you with a more detailed report in determining the current value of your home in today’s market.
There are 236 single family homes currently on the market (33 new listings this month)
The average list price was $295,000 ranging from $77,400 to $995,000
There are 61 homes currently under contract with half in the $200 to $350K price range. Only one home is over the $500K price point that is now under contract
In June the Town of Newburgh had 32 sold properties
The average sold price was $ 276,500 spending an average of 114 days on the market.
Year to date there have been 98 closed sales with an average sold price of $ $259,000 spending an average of 143 days on the market.
In the last twelve months there were 205 closed sales with an average sold price of $257,100 spending an average of 139 days on the market.
The Town of Newburgh NY home absorption rate is at a 16.4 month supply indicating we remain in a buyers market.
While the supply remains high, homes that are priced well and in great condition are selling. Home owners that have been waiting are seeing an opportunity to put their home on the market and still get a decent price as inventory had started to fall. Interest rates have begun to increase and while buyers are still looking for homes this will make their buying power slow down. Knowing everything about the local market is your best tool when buying or selling in any market.
These homes are currently available in the Town of Newburgh. Sellers are wise to know what the competition is and how important it is to price your home correctly from the start.