Dutchess County NY Real Estate Update November 2010
The number of Dutchess County homes sold in November were 38 less than the same time last year, going from 153 to 115. On the other hand, the homes sold were more expensive as both average and median price rose. The inventory level was also up over the same time last year although down from last month. Looking at the absorption rate it looks like it would take almost 19 months to get rid of the existing inventory.
With such a volume of inventory this is a good time for those in a position to buy to do so. I am sure you have noticed that the mortgage interest rate is on the rise.
SINGLE FAMILY DETACHED DUTCHESS HOMES FOR NOVEMBER 2010
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer 1st of Month |
| Nov 09 | $294,228 | $255,000 | 153 | 108 | 1927 | 12.49 | 174 |
| Oct 10 | $322,023 | $259,900 | 105 | 133 | 2295 | 21.85 | 129 |
| Nov 10 | $368,151 | $277,000 | 115 | 137 | 2137 | 18.58 | 132 |
During November, 10 less condos and townhouses were sold when compared to the same time last year, going from 36 to 26. Like the single family detached market, the homes sold were more expensive. This was obvious since the median and average sale prices rose.
Here too the inventory is up and it would take over 2 years to get rid of it if the sales continue at this level.
SINGLE FAMILY ATTACHED DUTCHESS HOME SALES FOR NOVEMBER 2010
CONDOS AND TOWNHOUSES
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer 1st of Month |
| Nov 09 | $179,037 | $172,000 | 27 | 109 | 386 | 14.29 | 36 |
| Oct 10 | $222,378 | $212,500 | 16 | 165 | 451 | 28.18 | 19 |
| Nov 10 | $190,272 | $205,000 | 18 | 106 | 455 | 25.27 | 26 |
If you are thinking of buying a home I have provided you with a search tools:
***Data for report obtained from Mid Hudson Multiple listing Services. Deemed reliable but not guaranteed.
Copyright © by Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Update November 2010
Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com
www.jfivehomes.com or www.midhudsonhomevalue.com
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