Chris Meyers, the Houlihan Lawrence COO, discusses current market trends.

Consistent with the overall economy, our local housing market continued to show signs of stabilizing in the month of August. Most of the market areas we serve experienced a slower rate of decline in both the number and price of homes selling in August compared to the first half of 2009 (see table below).

In Dutchess County, the number of homes sold in August actually increased on a year-over-year basis for the first time since late 2005. This “less bad” market environment is certainly welcome, but buyers continue to be very discerning in their search process. We see very few bids on properties that are not priced at levels that represent “good value.”

We’ll return with a more detailed discussion of current market trends when the 3rd Quarter is complete. In the meantime, we’d love to hear your perspective.

Are you currently active in this market as a buyer or a seller?

Please tell us about your experiences.