The market is very strong across the whole country. Experts are predicting that home prices will continue to rise, but the rate of appreciation could slow down to a little lower than the normal appreciation (3.6%) on an annual basis. The good news is that even though the level of appreciation may slow down, we’re still going to see rising prices. Interest rates have gone up almost a half-a-point since the beginning of this year. Freddie Mac is projecting that by the end of this year, we’re going to be close to 5 percent interest rates.
- 1 A look at the housing stats
- 2 Click to see all homes that sold in February 2018
- 3 A look at the condo market
- 4 What does this data mean?
- 5 What does this mean if you are buying a house in Warwick?
- 6 What does this mean if you are selling a house in Warwick?
- 7 CLICK HERE to get tips on How to sell your house fast!
- 8 Homes for sale in Warwick $350k and under
- 9 Here are all homes for sale in Warwick 10990:
- 10 Contact me
A look at the housing stats
February saw a total of 15 single family homes sell. The total number of new listings were up 7% at the end of February 2018 compared to February 2017, closed sales were down 6.6%. The median price range of houses that sold in Warwick during the month of February was $362,500. The median price range based on 12 months of activity was $330,750. Inventory was down by 18.5% from last year at this time.
|2017||2018||% of change|
|Median Sales Price||$335,000||$329,950||-1.5%|
|# of Homes for Sale||146||119||-18.5%|
The highest priced single famiily home sold in Warwick 10990 in February was $565,000 and the lowest priced home was $160,000.
A look at the condo market
Four condos sold in February. CLICK HERE to see which condos sold. The total number of new condo listings were down 10.8% at the end of February 2018 compared to February 2017, closed sales were up 6.7% . The median price range based on 12 months of activity was $219,500.00, up 4.8% from February of 2017.
What does this data mean?
Real estate is local and can fluctuate from month to month in our market. Inventory is very low across the country and our numbers have us at a 4.2 month supply with 89 homes on the market as of 3/12/18. We remain in a seller’s market.
What does this mean if you are buying a house in Warwick?
If you’re thinking about buying a house right now, whether as a first-time or a repeat home buyer, now is the time. Home prices are expected to rise and so are the interest rates.
Competition is still very strong, so make sure you have your finances in order, have already spoken with a mortgage professional and know what your limitations are. And if the house is right, act quick!
What does this mean if you are selling a house in Warwick?
February of 2018 saw 19 new single family homes listed in Warwick. Buyer demand is still strong, inventory is still low so there is less competition out there. The median days on market for February 2018 was 58 compared to last February which was 95, a 38.3% decrease. Buyers are competing for homes at this time, especially if they are move in ready and well maintained. Make sure your house is in tip top shape to ensure you get the most money possible. Sometimes a little bit can go a long way as far as home improvements go. Click here to see a helpful guide with tips on how to sell your home fast.
Homes for sale in Warwick $350k and under
Below you will find the most recent listed homes in Warwick in the average price range. All of these homes are priced at $350,000 and under.
Here are all homes for sale in Warwick 10990:
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Imagine Properties NY
580 Route 303
Blauvelt, New York 10913
cell: (845) 709–4758