I have been doing these reports for quite awhile now, and for a long time I have been hoping to relay to you some very positive information.
Well, today is the day. The market for a long time has had a dark cloud over it but now it seems the sun is taking over. Even though the weather has not been on our side with snow storms and cooler temps, this spring has gotten off to an early start and our entire office is buzzing with phones ringing and clients who want to buy and sell. I have been in this business for a long time and it is so refreshing and exciting to see this market begin to turn around after so many down years. I must say this spring season reminds me of the good old days!
Now I have to temper my enthusiasm for a couple of reasons. First, the spring season is always the most active, so is this just temporary, or is this something that will carry on into the summer and fall season? Second, we all know there are other factors still suppressing the market – job growth, job security, foreclosures, and consumer confidence to name a few. I hate to be a pessimist and it’s not like me at all, but I just want to see this trend continue.
Now I know some of you love statistics and I always give you them based on what is happening in Pawling, but today I just received some information based on all of Dutchess County. In the fourth quarter of 2012 sales were up a dramatic 31.6% from the fourth quarter of 2011. Dutchess saw more single family homes sold than in any year since 2009 when the home buyer tax credit fueled a short-term binge of home sales. Clearly we are seeing strong indications that buyer demand is returning to DutchessCounty!
Now let’s get back to what’s happening in Pawling. Here are some statistics from the Westchester/Putnam Multiple Listing Service regarding the number of homes currently on the market in Pawling in a given price range, and the number of solds in the last 6 months as of 3/23/13
$200,000 to $300,000 22 Active on the market and 10 Sold
$300,000 to $400,000 20 Active on the market and 7 Sold
$400,000 to $500,000 7 Active on the market and 2 Sold
$500,000 to $600,000 5 Active on the market and 2 Sold
$600,000 to $1,000,000 12 Active on the market and 2 Sold
Generally speaking, the numbers don’t lie. Hopefully these trends will continue. My feeling is we have now turned the corner and as inventory becomes smaller the prices should start moving slowly upward.
Click to Listen:
]audio:http://pawling.wpengine.com/wp-content/uploads/2013/03/3-30-Todd-Kessman_Eye-On-Real-Estate.mp3|Titles = Todd Kessman_Eye On Real Estate]
That’s it for now and I hope all of you have an enjoyable spring season.
14C East Main Street