The Dutchess County real estate market update in July 2012 saw an increase Sheepof 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

Year Average Price Median Price # of Sales DOM

Inventory

 Absorption Rate Purchase offer 1st of Month
July 11
 $307,831 $277,500 141 128 2201 15.61 156
June 12 $294,005 $243,000 135 137 1976 14.63 206

July 12

 $316,732 $260,000 147 150 1940 13.20 187

 

Dutchess County Data for single Famile homes

DutchData for detached homes July 2012

 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

Year Average Price Median Price # of Sales DOM

Inventory

 Absorption Rate Purchase offer 1st of Mon

July 11

 $214,593 $222,000 27 130 461 17.07 20
June 12 $188,945 $171,000 38 120 386 10.15 35

July 12

 $152,171 $143,500 28 159 387 13.82 31

 

Dutchess County Data

 

Condo and townhouse data for Dutchess

 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

         

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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This post has been included in New York Real Estate News Dutchess County, NY Real Estate News
Post is included in group: Hudson Valley Real Estate and Mortgage Professionals
Post is included in group: Market Reports

7 Comments on Dutchess County real estate market update in July 2012

AUG
22
532,041 Points 15 Featured Posts Localism Sponsor Outside Blog

Interesting report Jennifer and VERY comprehensive for anyone interested in  Dutchess County real estate. I'm actually suprised you have that much inventory, meaning a 13+ month supply.
7:59pm • #1
865,595 Points 18 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Jennifer.  What a comprehesive report.  We are seeing the same sort of trend in So. NH.  I think that in time, the prices will start to go up as well.  Howeever, I think it may be a better recovery in prices go up slowly and inventory stays down.
8:05pm • #2
1,156,252 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Lynda we are still in a buyer's market in Dutchess County.
8:08pm • #3
1,156,252 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Joan  I know  the market will improve even though not at the pace everyone hope for.
8:10pm • #4
AUG
23
1,309,202 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jennifer  You do a fantastic job of coupling narrative with the graphs in your Dutchess County market reports - they are a pleasure to read
6:01am • #5
956,146 Points 53 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jennifer, you have a very concise and easy to read market report for Dutchess County, and news for buyers and sellers ready to jump into the market.
7:18am • #6
795,559 Points Outside Blog

Good morning Jennifer.

That is a beautiful photo, and a great report that is easy to read.
8:28am • #7

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Jennifer Fivelsdal LIC. R.E. Broker

Rhinebeck, NY

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