Year End - How did we do?

With 865 contract deals in November, it wasn't a shocker to see December closed sales hit 357 - up 84% versus December, 2019. The median sale price hit the 2020 high in November with a 26.7% increase over November, 2019. December realized a marginal adjustment to 26.5% with a median price of $369,000. The year closed out with a YTD median up 13.3% translating to $340,000 with the average up 25.4% to $424,298.

The county hit double digit percentage increase in monthly median sales in September and has maintained double digit growth since. For perspective, in May, 2020 (when the gates first opened after the shutdown and sales had not yet had the opportunity to close) the median was already up 6.5% versus May, 2019. This was actually down from pre-shutdown in February. The reality is Dutchess County was on a steady rise without Covid, albeit much more conservative than late summer to date closings. In February, the month prior to the shutdown, Dutchess County realized the strongest February on record with an 8.6% median increase over February, 2019. The Hudson Valley was strong in sales and tight in inventory in many price points before Covid hit. We were poised for the frenzy that hit a multitude of housing types, rentals and land if priced correctly and marketed properly.