August again saw a drop in sales of single family detached homes. At the same time there was an increase in both inventory and days on the market.
On the other hand Condos and townhouses saw increase in the number of units sold and a reduction in the number of days on the market which does indicate that more people are buying these types of properties, and the sales are happening faster. One reason for this could be these units are more affordable than single family detached properties.
General Montgomery House Rhinebeck, NY
AUGUST SINGLE FAMILY DETACHED
Average Price $406,086 a 1.2% increase over August 06
Median Price $350,000 a .9% increase over August 06
Closed Sales 181 a 20.6% decrease over August 06, at that time 228 units were closed
Days on Market 133 a 13.7% increase
Purchase offer at the begining of month was 135 a 8.2% reduction over August 06
An increase was also noticed in the number of listings available at the beginning of the month - 2255 a 1.7%
AUGUST SINGLE FAMILY ATTACHED
Average Price $238,983 a 10.8% increase over August 06
Median Price $ 235,000 a 27.7% increase over August 06
Closed Sales 58 a 23.4% increase over August 06
Days on Market 92 a 6.1% decrease
There was an increase in purchase offer at the beginning of the month from 25 in August 06 to 41 a 64%
An increase was also noticeable in the number of listing available at the beginning of the month - 415 a 13.7%
***Statistics obtained from the Mid Hudson Multiple Listing Services.
Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- email@example.com