It is good to see that during July there were more sales than in June; although still down over same time last year. Also both average and median prices were up over last month.
I sense more optimism in the market and this is evident from the fact that more potential buyers are out looking at homes in a wider price range.
Breakdown of the numbers for single family Detached
Median Selling Price - $ 275,000 a decrease of 8.0% from July 2008
Average Selling Price - $ 319,340 a decrease of 11.6% from July 2008
Closed sales - 139 an increase of 12.0% from July 2008
Inventory at beginning of month - 1989 a decrease of 12.5% from July 2008
Days on market - 124 an increase of 5.1% over July 2008
Absorption rate for July 2009 1989/139= 14.3 months to clear inventory
The condo townhouse market is doing well, there was an increase in the number of sales over June and same time last year.
Breakdown of the numbers for single family Attached
Median Selling Price - $ 195,000 an increase of 6.0% from July 2008
Average Selling Price - $ 198,469 a decrease of 6.8% from July 2008
Closed sales - 35 an increase of 34.6% from July 2008
Inventory at beginning of month - 426 an increase of 5.4% over July 2008
Days on market - 123 an increase of 9.8% over July 2008
Absorption rate for July 2009 426/35= 12.17 months to clear inventory
****Source of data Mid-Hudson Multiple Listing Service In c (MHMLS)
Other 2009 Market Reports
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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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Hi Jennifer,
Your comment about "I sense more optimism in the market" seems to be shared by others including the stockmarket. We're seeing it here too in several ways.
No doubt, you're the Dutchess County real estate expert, your knowlege and experience shines through in all you do.