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Dutchess County NY Real Estate Market-September 2010

Dutchess County NY Real Estate Market-September 2010Fall Foliage

So how was the real estate market in Dutchess County during September?  For the single family detached properties there were 115 homes sold.  This was 15.4 percent less than the same time last year when there were 135 homes sold.

Both median and average price fell, when compared to the same time last year.  The median selling price was $264,000 a 2.2 percent decrease.  The average selling price fell by 4.7 percent to $289,317.

It was also noted that the days on market climbed to 141 days, an increase of 11 days over same time last year. Inventory is also up by 264 units.  Based on the current inventory level and sales it looks like it would take about 20 months to work off the current inventory.

SINGLE FAMILY DETACHED SALES SEPTEMBER 2010 DUTCHESS COUNTY NY 

 

Year           Average Price Median Price # of Sales DOM

Inventory

Absorption    Rate Purchase offer 1st of Month
Sept 09 $303,491 $270,000 136 130 2974 15.25 148
Aug 10 $300,425 $268,000 135 130 2297 17.01 130
Sept 10 $289,317 $264,000 115 141 2338 20.33 139

 

The condo and townhouse market experienced a significant drop.  Last September there were 50 units sold, compared to only 12 this September. That was a 76 percent drop.  One reason this could be happening, is because single family detached homes are now more affordable and some who purchased Condos did so only because single family homes were too expensive, so, if there is a choice the single family home will win.

The average and median sale price also dropped.  The median dropped by 20 percent to $184,000 and the average by 10 percent to $202,978.

It was worth noting that the days on market declined by 15 percent to 113.  The inventory on the other hand went up by 16 percent to 446.

                 SINGLE FAMILY ATTACHED SALES  SEPTEMBER 2010 DUCHESS COUNTY NY

                                                          CONDOS AND TOWNHOUSES       

                                   

Year Average Price Median Price # of Sales DOM

Inventory

Absorption    Rate Purchase offer  1st of Month
Sept 09 $226,373 $230,000 50 104 382   7.64 32
Aug 10 $224,920 $197,500 19 116 453 23.84 28
Sept 10 $202,978 $184,000 12 100 446 37.16 24

 

***Data for report obtained from Mid Hudson Multiple listing Services.  Deemed reliable but not guaranteed.

 

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com 

www.jfivehomes.com  or www.midhudsonhomevalue.com

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Copyright © by Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Update September  2010

 

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  Jennifer Fivelsdal  |   Real Estate Broker  |  jennifer@jfivehomes.com  www.jfivehomes.com  or  www.midhudsonhomevalue.com

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4 commentsJennifer Fivelsdal • October 11 2010 03:40PM
Dutchess County NY Real Estate Market-September 2010
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Dutchess County NY Real Estate Market-September 2010 So how was the real estate market in Dutchess County during September For the single family detached properties there were 115 homes sold. This was 15. 4 percent less than the same… more