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 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
Flickr | Facebook | Linked-in |Twitter |subscribe to Blog 
Copyright © by Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Update September 2010
Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com
www.jfivehomes.com or www.midhudsonhomevalue.com
