Market Report for Dutchess County - November 2014
Real estate market data for Dutchess County, NY provided by Debbie Allan of Berkshire Hathaway HomeService Hudson Valley Properties.
Dutchess County Home Prices
"Market Recovering from Dark ‘n Stormy Start of Year"
"After a first quarter deficit of 9.6% in sales of single family detached homes in Dutchess County the market is poised to at least post the same or close to the same number of units sold as last year. November sales of single family detached homes are 12.1% greater than last year. November 2014 logged 148 units which is 16 units above last year’s 132. The net effect has brought the year-to-date sales up to 1607 this year versus 1612 from last year which is only 0.3% off. The past three year’s unit sales total surpassed the previous and it is hopeful this year will make four years in a row.Although the higher unit volume is at the cost of long term price stagnation and slightly declining year-to-date- average and median selling price. There has not been any appreciable increase in selling price for some time. The Y-T-D average selling price is down 2.7% to $296,134 from $304,257 and the Y-T-D median selling price is down just 0.1% to $246,997 from $247,250.The number of available single family detached homes for sale in Dutchess County and the purchase offers on listed homes are both up 6.9% and 5.3%, respectively. The concern of increasing mortgage rate may be tempered by the inflation rate being only 1.5% over last year. The Federal Reserve is under no pressure to raise rates."
Plenty to choose from in Dutchess County
3,085 Available Homes
If you are interested in current homes on the market in Dutchess County you can find that information by clicking on the link. High inventory suggests that homes are sitting on the market for longer. Currently in Dutchess County, single family homes have a current average market time of 138 days before they sell and single family attached (condos & townhomes) current average days on market is at 121 days to sell.
Visit my website to search for homes in Dutchess County or to be notified when a new homes come on the market.
To find out what you home is worth in the current market call 845.705.5441 or fill out FORM What's my home worth?