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Analysis of Dutchess County NY Home Sales in June 2021

Dutchess County NY home sales in June 2021 of single-family detached homes rose significantly to 53.3 percent going from 152 in June 2020  to 233  this June.  This was not a surprise since the county was under a stay-at-home order last June due to COVID-19.  Homes sold ranged in price from $111,000 to $4,250,000. with the majority of the sales over $300,000.

The average sale price rose 26.9 percent when compared to the same time.  At that time the average price was $394,045 compared to $499,855  

A median sale price of $405,000, was 24.6 percent higher than the $325,000 recorded for June 2020.

Days on market fell 35.1  percent when compared to last June when homes were on the market an average of 94 days before selling, compared to 61 days this June.

Inventory fell by  26.7 percent compared to the same time last year, at that time it was 889 and 652 this year.

This June the purchase offer at the beginning of the month rose 98.1 percent, going from 156 last June to 309 this June.  

The absorption rate at 5.84 months was lower than last June when it was 6.29 months. (Time it would take to work off the present inventory)

Comparison Dutchess County NY home sales  June (Detached homes)

Data considered	June 20	May 21	June 21
Avg. Price	$ 394,045	$454,094	$ 499,855
Median Price	$ 325,000	$391,250	$ 405,000
# of Sales	152	198	233
Days on Market	94	84	61
Inventory	889	625	652
Absorption rate	5.84	3.15	2.92
Purchase offer	156	290	309

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Dutchess County NY home sales in June 2021 for the attached home market rose 120.7 percent going from 29 in June 2020 to 64 this June.   These homes ranged in price from $43,000 to $1,650,000

The average sale price rose 25.3  percent to $328,769 compared to $262,442  last June.  There was a modest increase of 7,5 for the median price, it was $265,000 last June and $ 285,000 this June.

Days on market fell 31.00 percent to 58 from 84 last June.

There was a 14.6 percent decrease in the inventory.  This June there were 157 units versus 137 at the same time last year.

Purchase offers saw a sharp increase of  163.6  percent to 58 from 22 in June 2020.

The absorption rate at 2.45 months was an improvement over the  4.72 months recorded for last June. (Time it takes to work off the inventory)

Comparison Dutchess County real estate in June (For attached homes)

Data considered	June 20	May 21	June  21
Avg. Price	$262,442	$ 289,329	$328,769
Median Price	$ 265,000	$ 260,000	$285,000
# of Sales	29	51	64
Days on Market	84	72	58
Inventory	137	147	157
Absorption rate	4.72	2.88	2.45
Purchase offer	22	57	58

At present the trend is for consumers from the New York City area to be looking for a home in the Mid Hudson Valley, some probably as a second home while others are moving permanently due to the ease of working from home.

With inventory down and a sustained demand, it is a good time for those thinking of selling to do so.