POUGHKEEPSIE – Home sales in Dutchess County jumped up by almost 22 percent in July when compared to the same month last year. The Mid-Hudson Multiple Listing Service also reported on Monday that year-to-date, home sales have jumped 20 percent above last year’s sales.
Executive Director Sandy Tambone said those are signs that Dutchess is starting to see a turnaround in the housing market.
“We are poised for a sustained increase in activity,” Tambone said. “Our purchase offers remain high and stable, which reinforces the positive activity and it is likely that the equilibrium is in the offing as the supply and demand curves create a less fragile and more stable local real estate market.”
In July, closed home sales totaled 179, compared to 147 in July of last year.
There is still a shortfall in the year-to-date median selling price of $240,000, or four percent lower, but that represents a “modest recovery” from earlier this year where the differential was much greater, Tambone said. In March, the year-to-date median was off by over nine percent.