Here is a look at the Warwick, NY Real Estate Market Report for March 2017. Homes sales are up, the median sales price is up, but the inventory is still LOW. Whether you are looking to sell or buy in the near future, or know someone who is, It’s good to keep yourself well informed of what is going on in your local market.
A look at the housing stats for Single-Family Homes in the Town of Warwick 10990. This is based on traditional sales only (not including foreclosures)
Let’s look at the numbers over the last 12 months:
|Feb 2016||Feb 2017||% of change|
|Median sales price||350,000||360,000||+2.9|
|# of homes for sale||164||127||-22.6|
The total number of new listings were down 13.5% at the end of February 2017 compared to 2016 although closed sales were up by 9.5% along with the median sales price which was up from $350,000 to $360,000 (2.9%). Inventory was down by 22.6% overall.
February 2017 saw 21 new listings to the market making the total number of residential listings on the market in February 84. There were 25 closed sales at a median sales price of $334,000.
Where are we now?
As of March 4, 2017, we currently have 92 active residential listings on the market and 28 pending sales.
What do these numbers mean?
As you can see, the home values are continuing to rise but the inventory of homes on the market is low. And with interest rates expected to rise even higher, now is the time – whether you are looking to sell or buy a home to jump off that fence.
What does this mean if you want to sell a house in Warwick?
Since home values have risen, as a seller you could have more equity than they think and now could be that perfect time to move up to your dream home or buy that vacation home that could ultimately be your retirement home. Price appreciation = home equity creation. And since we are in a sellers market, you have a very good chance of selling your home quickly and for more money than you expected. Find out what your home is worth.
What does this mean if you want to buy a house in Warwick?
If you have been on the fence about buying a home, now is the time since the interest rates are still low. Get in that new home now and start building that equity for your future.
View Warwick homes for sale by price range:
|$100,000 - $200,000||$700,000 - $800,000|
|$200,000 - $300,000||$800,000 - $900,000|
|$300,000 - $400,000||$900,000 - $1,000,000|
|$400,000 - $500,000||$1,000,000 and up|
|$500,000 - $600,000||warwick foreclosures|
|$600,000 - $700,000|
Whether you are looking to buy or sell a home it’s important to know that pricing can vary from neighorhood to neighborhood. Call me at (845) 709-4758 in you are interested in knowing what your home is worth in the market today or so we can discuss your housing needs. I would welcome the opportunity to assist you with your real estate needs.