Dutchess County market update for attached homes in August 2016
The market update in August 2016 for Dutchess County attached homes ( condo and townhouse market ) saw a drop of 1 in the number of units sold, when compared to same time last year. There were 52 units sold in August 2015 versus 51 this August, this was a 1.9 percent drop. Although there was one less sale the current dollar sales volume for this August was higher, an indication that there were more expensive sales.
An absorption rate of 5.82 puts this market niche in the normal range. Although this absorption rate was a reduction from August 2015 it was an uptick when compared to July 2016 (see chart)
Average sales price rose 19.4 percent, going from $193,989 in August 2015 to $231,702.
The median price saw an even larger increase, going from $171,250 last August to $225,000 this August; this was a 31.4 percent.
Single family attached homes were on the market 8 less days compared to August 2015.
Inventory was down 20.5 percent . Purchase offers also decreased by 17.4 percent.
Dutchess County real estate August comparison Single Family Attached homes
| Data | Aug. 15 | Jul. 16 | Aug. 16 |
|---|---|---|---|
| Purchase offer | 46 | 43 | 38 |
| Avg. Price | $193,989 | $190,712 | $231,702 |
| Median Price | $171,250 | $155,000 | $227,000 |
| # of Sales | 52 | 57 | 51 |
| Days on Market | 115 | 101 | 107 |
| Inventory | 351 | 301 | 279 |
| Absorption rate | 6.76 | 5.28 | 5.82 |
With inventory on the decline this is a great time to put your home on the market. Call Today to get a market analysis
Did you know those looking for homes in the Fall are usually very serious buyer's?
You can also find the market report for single family detached homes at: Dutchess County real estate August 2016 update
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