DUTCHESS COUNTY, N.Y. -- First quarter real estate sales surged 14.8 percent in the first quarter in Dutchess County compared to the same time period last year, according to a report from Douglas Elliman Real Estate.
There were 188 sales in the first quarter in Dutchess County, up from 164 in the first quarter in 2015. Dutchess is also coming off a strong fourth quarter, where 270 properties exchanged hands.
The median sale price for a Dutchess County home was $247,250, down slightly from the $240,000 MSP in the first quarter in 2015.
Inventory swelled in the first quarter, with 731 listings at the end of the first quarter, which slowed the market pace. The absorption rate, the number of months to sell all inventory at the current rate of sales, jumped to 11.7 months, up from 10.1 months at the same time period last year.
Click here for the complete report from Douglas Elliman.
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