Dutchess County NY June 2022 home sales update market
A review of Dutchess County NY June 2022 home sales
Home sales in Dutchess County NY during June 2022 of single-family detached homes fell 27 percent, going from 233 in June 2021 to 170 this June. The homes sold during the month ranged in price from $50,000 to $3,799,000, built between 1700 and 2021 with square feet from 700 to 8,538
There were fifteen transactions over a million dollars, with prices ranging from $1,100,000 to $3,799,000.
Average and Median Prices for Detached Homes in June 2022
This June the average sale price of $529,067 rose 5.8 percent when compared to $499,855 at the same time last year.
A median sale price of $450,000 this June was up 11.1 percent over the same time last year when the median was $405,000.
Inventory and Purchase Offers in June 2022
Home inventory was down 11.5 percent this June to 577, compared to the same time last year when it was 652. It was, however, an improvement over May when the inventory was 505.
Purchase offers decreased by 47.2 percent going from 309 in June 2021 to 163 this June.
The absorption rate (the time it would take to work off the present inventory) was 3,39 months this June compared to 2.80 months last June.
Days on Market during June 2022
Homes sold were on the market 57 days this June which was 6.6 percent fewer days when compared to 61 days in June 2021.
Comparison Dutchess County Detached Home Sales for June 2022 to 2021
| Data | June 2021 | May 2022 | June 2022 |
| Average Price | $ 499,855 | $ 605,962 | $ 529,067 |
| Median Price | $ 405,000 | $ 441,750 | $ 450,000 |
| Number of sales | 233 | 166 | 170 |
| Days on market | 61 | 80 | 57 |
| Inventory | 652 | 505 | 577 |
| Purchase Offers | 309 | 190 | 163 |
| Absorption Rate | 2.80 | 3.04 | 3.39 |
Dutchess County NY June 2022 home sales for the attached market
Dutchess County NY home sales in June 2022 for attached homes (Coops, Condos, and townhouses) fell 28.1 percent when compared to June 2021. At that time there were 64 sales versus 46 this June. The units sold ranged from $15,000 to $765,000
These were 1-to-3-bedroom units built between 1871 and 2021 with square feet from 500 to 3,011
Median and average prices of attached homes In June 2022
The attached homes’ average sale price of $311.130 fell 5.4 percent when compared to $328,769 recorded for the same time last year.
The median sale price of $277,000 fell 2.8 percent when compared to a median price of $285,00 at the same time last year.
Attached Homes Inventory and Purchase offer for June 2022
Inventory at 95 fell 39.5 percent this June when compared to 157 for the same time last year.
Purchase offers at 35 this June fell 39.7 percent when compared to 58 purchase offers for the same time last year.
The absorption rate at 2.06 months was down from 2.45 months in June 2021 ( The time it would take to work off the present inventory).
Days on Market in June 2022 for attached homes
Days on market at 35 fell 3.7 percent when compared to 58 days last June
Comparison Dutchess County home sales of attached homes from June 2021 to 2022
| Data | June 2021 | May 2022 | June 2022 |
| Average Price | $ 328,769 | $ 284,815 | $ 311,130 |
| Median Price | $ 285,000 | $ 271,750 | $ 277,000 |
| Number of sales | 64 | 41 | 46 |
| Days on market | 58 | 42 | 35 |
| Inventory | 157 | 76 | 95 |
| Purchase Offers | 58 | 42 | 35 |
| Absorption Rate | 2.45 | 1.85 | 2.06 |
Recent real estate market observation
Due to inflation and higher mortgage rates, some home buyers have decided to take a pause on their desire to purchase a home.
There is a more noticeable price reduction in homes listed for sale.
Some homes are still getting multiple offers
It is a better strategy to price a home a bit lower to attract more interest, get more offers and a higher price, instead of pricing higher and then finding it necessary to reduce the price one or more times before getting an accepted offer.
Other market reports
May 2022 Dutchess County NY report
April 2922 Dutchess County NY report
Rhinebeck NY June 2022
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