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
Jennifer Fivelsdal -Licensed Real Estate Broker
JFIVE HOMES REALTY LLC 845-758-6842
www.jfivehomes.com or www.midhudsonhomevalue.com jennifer@jfivehomes.com
Copyright © by Jennifer Fivelsdal, all rights reserved-Dutchess County Market Report For September 2008
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