The following results are for Orange County NY for the month of August 2011, and are compared to August 2010. These results are for single family homes only, and they are bringing positive news!
While only a small increase, the total sales closed in September in Orange County increased in 2011 over 2010 by about 3.5%.
The average selling price improved by about 1.6%.
At the same time, the new total listings taken decreased from close to 470 in August 2010 to about 400 in August 2011 (a decrease of close to 16%.)
That being said, there are approximately 3300 homes currently for sale in the Orange County area, Inventory is plentiful, mortgage interest rates are low (around 4%), and prices remain relatively stable.
Now remains a great time to purchase a home, so if you’re holding off on buying your first home, let go and jump into the real estate pool! If you’re waiting to trade down or up, wait no longer!!
Feel free to give me a call if you need assistance or information.