Market update for Hyde Park NY home sales in October 2022
Hyde Park NY October 2022 home sales at seventeen were the same number of sales recorded for the same time last year.
Homes sold had a sale price to the list price of 99 percent, with six homes selling above the list price.
The single-family homes sold ranged in price from $177,000 to $690,000 and had square feet from 960to 3,910 These homes were built between 1935 and 2006
Hyde Park NY Average and Median Prices in October 2022
The average sale price of $350,053 was lower than $ 374,700 recorded in October 2021.
A median sale price this October of $325,000 was less than the $335,000 at the same time last year.
Homes were on the market an average of 67 days which was lower than the 83 days for the same time last year.
Comparison of October 2022/2021 home sales
|Average List||$ 374,511||$350,053|
|Average Sold||$ 374,000||$347,353|
|Median List||$ 350,000||$ 319,000|
|Median Sold||$ 335,000||$ 325,000|
Other Real Estate Activities In October 2022
Eleven homes were added to the Hyde Park NY homes for sale inventory. These two and three-bedroom homes ranged in price from $174,900 to $378,000 built between 1850 and 2006 with square feet from 1,176 to 2,129
Ten homes received offers. These homes had two to four bedrooms, with prices ranging from $199,900 to $799,000 with the smallest house at 738 square feet and the largest at 3,900 square feet. These were built between 1920 and 2006.
Twelve homes went under contract, built between 1940 and 2004. These two to four-bedroom homes ranged in price from $175,000 to $995,000 with square feet from 1,036 to 3,620
Breakdown of the October 2022 real estate activities
|Avg. Sq. Ft.||1462|
|Avg $/Sq, Ft||$197|
|Avg. Sq. Ft.||2,345|
|Avg $/Sq. Ft.||$183|
|Avg, Sq. Ft||1,356|
|Avg $/Sq. Ft||204|
|Avg, Sq. Ft||1,845|
|Avg. Sq. Ft||$210|
Real estate sales in Hyde Park NY during October
|Average $/Sq Ft||$197|
|Average $/Sq Ft||196|
|Big Meadow Ln||$249,000|
|Crum Elbow Rd||$325,000|
|S Cross Rd||$385,000|
Recent real estate observations
Thirty-year mortgage rates at the time of writing this report were just under seven percent compared to less than half that earlier in the year, This has resulted in some potential home buyers being priced out of the housing market. Those who can still make a purchase are doing so at a much higher cost.
More sellers are making reductions in their list price to get a faster sale.
Some homes are still getting multiple offers
It is a better strategy to price a home a bit lower to attract more interest, and get more offers and a higher price, instead of pricing higher and then finding it necessary to reduce the price one or more times before getting an accepted offer.