Dutchess County Real Estate Market Report For May 2011

By
Real Estate Broker/Owner with JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 10491201242
http://actvra.in/cjS

Dutchess County market report for May when compared to May 2010 showed a decrease in the number of single family homes sold by 7.5%, going from  to 106 to 98.

Most of the homes sold were under $400,000, only 20 where above that mark.  The least expensive home went for $29,100 and was a foreclosure in the City of Poughkeepsie.  The most expensive was in the Town of Washington, a home on 50 acres that was almost 5000 square feet; this home went for $2,250,000.

The report also showed an increase in days on market going from 132 last year to 159.  May's days on market was less than that of April by 8 days.  The number of months it would take to work off the present inventory (absorption rate) went up by a month.

In the chart below,  you will find more details on the real estate market in Dutchess County during May.

 Dutchess County Single Family Detached homes sold in May 2011 

Year Average Price Median Price # of Sales DOM

Inventory

Absorption Rate Purchase offer 1st of Month
May 10 $348,110 $295,000 106 132 2077 19.59 164
April 11 $286,087 $248,250   92 167 1913 20.79 124
May 11 $337,452 $278,250   98 159 2026 20.67 141

In the single family attached home segment both median and average sale prices fell.  These properties are staying on the market much longer.   The days on market increased by 41 days going from 132 in May last year to 180 this May.  Inventory went up by 23.2 percent and at the same time purchase offer at the first of month fell by 41percent.  The units sold ranged from $52,000 to $464,500.

Condos And Townhouses Report For May 2011

Year Average Price Median Price # of Sales DOM

Inventory

Absorption Rate Purchase offer 1st of Month
May 10 $218,771 $231,500 28 139 375 13.39 39
April 11 $235,338 $257,500 24 161 421 17.54 21
May 11 $201,732 $200,000 25 180 462 18.48 23

May  Average and Median Home Prices for Dutchess

Details on May Average and median price for May -Dutchess County

Other Dutchess County Market Reports for May

Rhinebeck

Red Hook

Hyde Park

**Data for report obtained from Mid Hudson Multiple listing Services. Deemed reliable but not guaranteed.

 

Copyright © Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Market For May 2011

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Topic:
Real Estate Market Trends
Location:
New York Dutchess County
Groups:
Market Updates
New York Real Estate Agents and Associate Brokers
Tags:
dutch county ny market report
dutcess county home sale
dutchess real estate

Comments 2 New Comment

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Rainmaker
583,124
David Popoff
Realtor & Property Manager, Fairfield County, Ct.
DMK Real Estate & Property Mgmt

Jennifer, well at least the numbers are showing activity though the DOM is a little higher. Good points to put out for your clients, Dutchess County is a wonderful place.

June 13, 2011 08:27 AM
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Jennifer Fivelsdal
Mid Hudson Valley real estate connection
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

David I agree, Dutchess is a great place. 

 Although sales are down we are grateful that there is activity in the market.  The next few months should give us a better picture of how the year will shape up.

June 13, 2011 07:39 PM
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Jennifer Fivelsdal

Mid Hudson Valley real estate connection
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