Real Estate Market Report in Dutchess County NY-March 2010
The market report in Dutchess County NY showed 92 single family detached homes sold during March 2010; a 13.6 percent increase over last year, and 14 more units than in February 2010
In March the absorption rate which is the time it takes to work off the existing inventory dropped 3.18 indicating it will take 3 less months than in February to deplete the inventory a positive trend; however Dutchess County continues to be a buyer's market.
The median price also declined it was 7.1 percent less, coming in at $234,000 versus $252.000 last year. This was not a big surprise since most of the sales occurred in the $200,000-$249,900 price range.
SINGLE FAMILY DETACHED SALES MARCH 2010
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer Mar. 1 |
| March 09 | $290,916 | $252,000 | 81 | 120 | 1713 | 21.15 | 131 |
| Feb. 10 | $297,415 | $230,000 | 76 | 134 | 1681 | 22.11 | 119 |
| March 10 | $316,955 | $234,000 | 92 | 148 | 1742 | 18.93 | 124 |
In the townhouse/condo market there was a 66.7 increase in the number of units sold, going from 15 in February to 25 in March. This jump also decrease the absorption rate by 9 months a significant jump but in this segment it too continues to be a buyer's market.
There was also a 5.2 percent drop in the median price going from $174,000 to $165,000. The co-relation seems to be lower median price meant more units sold.
SINGLE FAMILY ATTACHED SALES MARCH 2010
(Condos & Townhouses)
| Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer Mar. 1 |
| March 09 | $189,397 | $174,000 | 15 | 154 | 354 | 23.6 | 19 |
| Feb 10 | $190,199 | $192,000 | 15 | 103 | 353 | 23.53 | 30 |
| March 10 | $183,176 | $165,000 | 25 | 117 | 355 | 14.2 | 32 |
The Real Estate Market Report in Dutchess County NY for March 2010 clearly showed there were good buying opportunities available to buyers.
Looking for a home in Dutchess County NY? start your search here.
Dutchess County NY map home search
Dutchess County is located in the Mid-Hudson Valley with a population between 292,000-296,000 and is just about 65 miles from New York City. You can get here by road or train. The county is serviced by two Metro-North train lines.
Planning your summer vacation? consider Dutchess County NY there is so many interesting things to see and do.
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JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com www.jfivehomes.com
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Copyright © by Jennifer Fivelsdal, all rights reserved-Real Estate Market Report in Dutchess County NY-March 2010
***Data for report obtained from Mid-Hudson Multiple listing Service. Deemed reliable but not guaranteed
Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com
www.jfivehomes.com or www.midhudsonhomevalue.com
