Hello Dutchess County Home Buyers! Are you there? I know that a lot of you see the national news reports on TV and think the bad news about the housing market is a measurement of what's happening right here in Dutchess County, NY. But, don't be fooled!
HERE"S A FACT:
JANUARY 2009 was the first month in many when the average sales price had not decreased from 1 year before.
So, If you snooze you may lose.
Need proof the local market is a good one to invest in? Well, here in the chart below you will see that people ARE confident in investing in real estate in the Dutchess County area. And, perhaps this is a sign that you better act now before prices or interest rates start adjusting upward as demand increases. And, especially, if you are a first time home buyer who might want to take advantage of the $7500 tax credit -available if you close on a home before July 1st, 2009.
I have tracked market trends for the Mid-Hudson Valley MLS as far back as the beginning of 2007, and am happy to share the following statistics (the months that stand out in bold are the months when buyer activity was UP):
DETACHED HOUSING # OF PURCHASE OFFERS SUBMITTED
(FIRST OF MONTH COMPARED TO ONE YEAR PRIOR):
January 2007 ↓ 3.3% January 2008 ↓ 12.9%
February 2007 ↑ 2.5% February 2008 ↓ 18.5%
March 2007 ↓ 21.1% March 2008 ↓ 22.6%
April 2007 ↓ 25.9% April 2008 ↓ 6.5%
May 2007 ↓ 37.4% May 2008 ↑ 18.4%
June 2007 ↓ 20.4% June 2008 ↑ 12.4%
July 2007 ↓ 25% July 2008 ↑ 20.8%
August 2007 ↓ 8.2% August 2008 ↑ 6.7%
September 2007 ↓ 8.7% September 2008 ↑ .09% Email Carol
October 2007 ↓ 8.2% October 2008 ↑ 1.6% cell phone (845) 430-6543
November 2007 ↓ 15.1% November 2008 ↓ 2.5% Office (845) 227-4400 Ext. 358
December 2007 ↓ 13% December 2008 ↑ 29.9%
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