Dutchess County market report for May when compared to May 2010 showed a decrease in the number of single family homes sold by 7.5%, going from to 106 to 98.
Most of the homes sold were under $400,000, only 20 where above that mark. The least expensive home went for $29,100 and was a foreclosure in the City of Poughkeepsie. The most expensive was in the Town of Washington, a home on 50 acres that was almost 5000 square feet; this home went for $2,250,000.
The report also showed an increase in days on market going from 132 last year to 159. May's days on market was less than that of April by 8 days. The number of months it would take to work off the present inventory (absorption rate) went up by a month.
In the chart below, you will find more details on the real estate market in Dutchess County during May.
Dutchess County Single Family Detached homes sold in May 2011
Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer 1st of Month |
May 10 | $348,110 | $295,000 | 106 | 132 | 2077 | 19.59 | 164 |
April 11 | $286,087 | $248,250 | 92 | 167 | 1913 | 20.79 | 124 |
May 11 | $337,452 | $278,250 | 98 | 159 | 2026 | 20.67 | 141 |
In the single family attached home segment both median and average sale prices fell. These properties are staying on the market much longer. The days on market increased by 41 days going from 132 in May last year to 180 this May. Inventory went up by 23.2 percent and at the same time purchase offer at the first of month fell by 41percent. The units sold ranged from $52,000 to $464,500.
Condos And Townhouses Report For May 2011
Year | Average Price | Median Price | # of Sales | DOM |
Inventory |
Absorption Rate | Purchase offer 1st of Month |
May 10 | $218,771 | $231,500 | 28 | 139 | 375 | 13.39 | 39 |
April 11 | $235,338 | $257,500 | 24 | 161 | 421 | 17.54 | 21 |
May 11 | $201,732 | $200,000 | 25 | 180 | 462 | 18.48 | 23 |
Other Dutchess County Market Reports for May
**Data for report obtained from Mid Hudson Multiple listing Services. Deemed reliable but not guaranteed.
Copyright © Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Market For May 2011
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