Residential real estate sales activity in Dutchess County continues to increase, and it looks like we're headed for a very active sales year in 2021.
Let's look at Single Family Detached homes separately from Single Family Attached homes to get a more detailed overview of how the different segments are performing. We will be comparing Year-to-Date February 2021 compared to the same period last year.
Dutchess County Single Family Detached Homes
Sales of single family detached homes in Dutchess County increased by a whopping 39%. There were 428 closed sales by the end of February of this year compared to 308 last year. Pending contracts as of the first of the month are up 102.4% from the same time last year, which is a good indication that we will continue to see brisk sales activity into the coming months.
The median selling price was $370,000 in 2021 and $295,000 in 2020 -- representing a 25.4% increase. It took a little less time, on average, for homes to sell this year, down to 80 days from 97 days last year.
The inventory of available homes for sale continued to decrease, making the market all the more competitive. There were 688 available homes for sale on February 1, 2021, down 21% from 872 on February 1st of last year. Now that the weather is improving, we are seeing more homes listed for sale, but they are selling very quickly, as buyer demand is robust.
Dutchess County Single Family Attached Homes
Sales of single family attached homes (condos and townhomes) also increased -- by 26% -- from 73 sales in 2020 to 92 sales in 2021. The media sales price increased by 19%, from $205,000 in 2020 to $244,000 in 2021. Pending contracts as of the first of the month are up 108.7% from the same time last year. Once again, indicating brisk sales activity in the coming months.
There are more listings available for sale than there were last year at this time. As of the first of the month there were 146 homes available to buy compared to 113 in 2020.
Please don't hesitate to contact us any time with your questions about the local real estate market in the Mid-Hudson Valley Region. We have local offices in Wappingers Falls, New Paltz, LaGrange, and Rhinebeck staffed with professional REALTORS® ready to assist buyers and sellers with all their real estate needs.
Source: The statistics reflect the sales activity of the Mid-Hudson Multiple Listing Service Inc., which comprises the largest sales volume sampling.
