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Good news, sales are still trending upwards. There were 19 more sales in May than in April.
- Offers at the beginning of the month were 150 this was a 11.1% increase over last year same time, and 12 more than in April.
- The number of months it will take to get rid of the inventory has improved drastically.
- If you have been sitting on the fence, take note that rate has risen but still a good deal, and if you are a First Time Buyer the clock is ticking, just a few months left for you to close on that home and benefit from the $8000 tax credit.
 Roses are in Bloom in Dutchess County Gardens
Breakdown of the numbers for single family Detached
Median Selling Price - $ 270,000 a decrease of 16.9% from May 2008
Average Selling Price - $ 312,489 a decrease of 17.2% from May 2008
Closed sales - 124 an increase of 13.8% from May 2008
Inventory at beginning of month - 1890 a decrease of 10.2% from May 2008
Days on market - 127 a decrease of 2.3% over May 2008
Absorption rate for May 2009 1890/150= 12.6 months to clear inventory
The number of sales in May was exactly the same as in April but a significant drop from last year same time. Both average and median selling price rose. However the number of days on the market is going up.
Breakdown of the numbers for single family Attached
Median Selling Price - $ 211,900 an increase of 8.7% from May 2008
Average Selling Price - $ 228,633 an increase of 17.2% from May 2008
Closed sales - 18 a decrease of 47.1% from May 2008
Inventory at beginning of month - 403 an increase of 11.3% over May 2008
Days on market - 138 a decrease of 16.9% over May 2008
Absorption rate for May 2009 403/18= 22.38 months to clear inventory
****Source of data Mid-Hudson Multiple Listing Service In c (MHMLS)
OTher 2009 Market Reports
If you are looking to buy or sell real estate in the Hudson Valley ,or to get an answer to a real estate question please contact me.
Jennifer Fivelsdal- Associate Broker- Keller Williams Realty Team - 845-758-6842- jennifer@jfivehomes.com and www.jfivehomes.com
SEARCH FOR A HOME IN THE MID HUDSON VALLEY
**** Informational only; deemed reliable but is not guaranteed.
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Thanks for sharing with us this morning. I am continually learning from others post. Great