How Did the Dutchess County NY Real Estate Market Fare In February?
During February the number of homes sold in Dutchess County NY were 76; a 7 percent increase over last year but 24 fewer units than in January 2010.
So what are some of the interesting facts about the properties that sold?
-Most of the sales occurred in the 100,000's-200,000's range
-Cash and Conventional loans were the financial instruments used; surprisingly these two categories tied.
-Most of the homes sold were three bedrooms follwed by four bedrooms.
-There were quite a few short sales and foreclosures in the mix.
-Most of the sales were on properties on the market 0-30 days. Could it be that these sellers were doing a better job pricing from the start?
The average price pretty much stayed the same, however the median was off by 18 percent; not surprising considering the range in which most of the sales occurred.
Worth noting, there was one sale for over 1.5 million dollars.
SINGLE FAMILY DETACHED SALES FEBRUARY 2010
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer Feb. 1 |
| February 09 | $297,226 | $283,000 | 71 | 144 | 1678 | 23.63 | 107 |
| January 10 | $321,216 | $287,500 | 100 | 133 | 1607 | 16.07 | 126 |
| February 10 | $297,415 | $230,000 | 76 | 134 | 1681 | 22.11 | 119 |
SINGLE FAMILY ATTACHED SALES FEBRUARY 2010
(Condos & Townhouses)
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer Feb. 1 |
| February 09 | $153,333 | $115,000 | 9 | 194 | 342 | 38 | 18 |
| January 10 | $216,596 | $217,000 | 13 | 106 | 349 | 26.84 | 18 |
| February10 | $190,199 | $192,000 | 15 | 103 | 353 | 23.53 | 30 |
In Dutchess County during February the number of condos and townhouses sold were 15 - a 66.7 percent increase over last year. Both median and average price saw significant increases.
In this category most of the sales made were paid for in cash and the average days on the market was 31-60 days.
***Data for report obtained from Mid-Hudson Multiple listing Service. Deemed reliable but not guaranteed.
If you missed the series Buying a house in Dutchess County here is a chance to review them
Buying a house in Dutchess County NY-What type of architecture can you expect to see? Part 8
Buying a house in Dutchess County NY what do you do for fun around here? part 7
Buying a house in Dutchess County NY - School Information part 6
Buying a house in Dutchess County NY - Water and Waste water Concern part 5
Buying a house in Dutchess County NY - Tell me about the taxes part 4
Buying a house in Dutchess County NY - Do you need Privacy? Part 3
Buying a house in Dutchess County NY - Where will you work? Part 2
Buying a house in Dutchess County - What you should know -Part 1
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Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com
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