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The Dutchess County real estate market update in July 2012 saw an increase of 6 sales over same time last year, however, the median price was down 6.3 percent. Good to see a decrease in the inventory- a drop of 260 homes, which was an 11.9 percent drop when compared to the Dutchess County real estate market update in July 2011. At the beginning of the month purchase offers went up 19.9 percent. At the same time properties were on the market longer, going from 128 days in July 2011 to 150 days this July. The time it will take to work off the inventory (absorption rate) went from 15.61 to 13.20 months which was a trend in the right direction. The homes sold ranged in price from $75,000 - $1,805,000. Four million dollar homes sold. The most expensive had Hudson River views and is located in the Tivoli area. The detail Dutchess County real estate market update is available below.
Single Family Detached Homes Sales in Dutchess County in July 2012
# of Sales
Purchase offer 1st of Month
In the condo, townhouse and co-op market in Dutchess County during July 2012 there was 1 more sale than same time last year. Like the single family detached homes there was a significant drop in the inventory going from 461 to 387 which was a 16.1 drop. The purchase offers at the beginning of month was 11 more than last year. However the median and average price really got my attention; the average at $152,171 was a 29.1 percent drop when compared to July 2011. The median at $143,000 was a 35.4 drop. Both average and median price were the lowest recorded since 2003 which you can see on the graph below.
Condos And Townhouses Report For July 2012
# of Sales
Purchase offer 1st of Mon
Data for report compiled from the Mid Hudson Multiple Listing Service and consist of data only for homes listed on the MLS. Copyright by Jennifer Fivelsdal, all rights reserved-Dutchess County real estate market update in July 2012
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.