September was another month in which there was a noticeable drop in the number of home sold although the inventory was still growing.   The days on the market was on the increase, properties in September remained on the market 11 days more than in August 08 and 13 more days than in September 07.

• Dollar volume for year  was down 29.5%
• Year to date sale down 21.5%

   Breakdown of the numbers for single family Detached

Median Selling Price - $ 297,500 a decrease of 12.5% over September 2007

Average Selling Price - $340,758 a decrease of  20.4 %over September 2007

Closed sales - 101 a decrease of 29.4% from September 2007

Inventory at beginning of month - 2275 an increase of  0.9% over September 2007

Days on market - 126  a increase of 11.5% over September 2007

Absorption rate for September 2008 2275/101= 22.52 months to clear inventory

 Unlike the single family detached housing, the townhouse and condo market saw an increase of 3.1% in sales and a drop in inventory although the days on market increase by 26.1%.

• Year to date sales dollar volume decrease by 32.9%
• Year to date sales down 29%

   Breakdown of the numbers for single family Attached

Median Selling Price - $210,000 an increase of 20% over September 2007

Average Selling Price - $211,257 an  increase of  2.9 % over September 2007

Closed sales  33 an increase of 3.1% from September 2007

Inventory at beginning of month - 394 a decrease of  3.9 % over September 2007

Days on market - 150 an increase of 26.1% over September 2007

Absorption rate for September 2008 394/33= 11.93 months to clear inventory

****Source of data Mid-Hudson Multiple Listing Service Inc (MHMLS)

If you would like more in depth information please contact Jennifer Fivelsdal- Associate Broker- Keller Williams Realty Team - 845-758-6842- jennifer@jfivehomes.com  and www.jfivehomes.com

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