Dutchess County Home Prices Dip Slightly, But Remain Elevated Compared to Last Year

The median home in Dutchess County, New York, listed for 5,000 in July, a 2.6% decrease from the previous month's 0,123, according to an analysis of data from Realtor.com. However, the median home list price increased 4.6% compared to July 2023, rising from 0,000.

Exploring the Nuances of Dutchess County's Housing Market

Median Home Characteristics and Pricing Trends

The median home in Dutchess County was 2,205 square feet and listed at 9 per square foot, up 2.7% from July 2023. This suggests that while the overall median home price has dipped slightly, the price per square foot has continued to rise, indicating that larger or more premium homes may be driving the market.

Market Dynamics and New Listings

Homes in Dutchess County spent a median of 51 days on the market, slightly longer than the national median of 50 days. This represents a slowdown from the previous month, when homes had a median of 43 days on the market. The number of new listings also decreased by 4.4%, from 272 in July 2023 to 260 in the most recent month.

Broader Regional and National Trends

Across the broader New York-Newark-Jersey City metro area, median home prices fell to 7,000, a slight decrease from the previous month. The median home in this region had 1,572 square feet and a list price of 4 per square foot.In New York state, the median home price was 2,000, a slight decrease from June. The median New York home listed for sale had 1,643 square feet and a price of 5 per square foot.Nationally, the median home price was 9,950, a slight decrease from the previous month. The median American home for sale was listed at 1,869 square feet, with a price of 1 per square foot.

Understanding the Median Home Price Metric

The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which can be skewed by particularly low or high-priced homes.The data and insights provided in this article offer a nuanced look at the current state of the Dutchess County housing market, with comparisons to broader regional and national trends. As the real estate landscape continues to evolve, this information can help homebuyers, sellers, and industry professionals make informed decisions.