Our local Dutchess County Real Estate Market Update
The 2014 Dutchess County housing market ended with 1845 closed sales, 4574 new listings and just over 2000 properties in contract. The real estate market seemed frozen along with the frigid temperatures and took quite a bit of time to truly heat up in 2014 – but once it thawed out homes started to sell. Overall, considering the sleepy winter and spring markets, we held our own and the prices remained stable.
Berkshire Hathaway HomeServices Hudson Valley Properties offers a detailed and insightful analysis of 2014 housing market which is below.
This year has started out much the same with numerous single digit days, blustery winds and plenty of snow; but we expect the market to heat up quickly as the outside temperatures start to climb. We have experienced large numbers of traffic visiting all the real estate websites as homebuyer’s seem to be doing their house hunting from the comfort of their computer or mobile devices. There seems to be plenty of pent-up buyer demand that is bound to make this year hot. And while these potential buyers are in hibernation mode, numerous sellers are busy preparing to get their homes listed for sale.
All the major predictors point to a good year for real estate in Dutchess County – low interest rates, a substantial inventory of properties and a high consumer index.