Market update for Rhinebeck NY home sales in August 2022
Rhinebeck NY home sales in August 2022
In the town of Rhinebeck NY, home sales in August 2022 came in at four compared to five at the same time last year. The sale price to list price was 101 percent with the most expensive home selling above the list price.
The homes sold ranged in price from $463,500 to $1,450,000. Built between 1890 and 2021 with square feet ranging from 1,290 to 3,200
Rhinebeck NY home Price in August 2022
The average sale price came in at $838,875 this August which was lower than the $1,417,600 at the same time last year. Last August four of the five sales were over a million dollars and only one this year.
$721,000 was the median sales price which was less than the $1,600,00 recorded in August 2021.
Homes were on the market an average of 32 days before selling, which was much less than the 73 days in August 2021.
Comparison August 2022/2021 Home Sales in Rhinebeck NY
| Comparison | 2021 | 2022 |
| Average List | $1,309,600 | $828,125 |
| Average Sold | $1,417,600 | $838,875 |
| Median List | $1,250,000 | $749,500 |
| Median Sold | $1,600,000 | $721,000 |
| Sales | 5 | 4 |
| DOM | 73 | 32 |
Other Real Estate Activities During August 2022
Three homes were added to the inventory, priced between $1,495,000 and $2,200,000, built between 1820 and 1985, with square feet from 2264 to 2836,
Five homes received offers, with prices ranging from $375,000 to $2,150,000. These homes were built between 1960 and 2022 with square feet from 1,481 to 3,750.
Four homes went under contract ranging in price from $415,000 to $1,325,000. These homes were built between 1928 and 2015, with the smallest house 1290 square feet and the largest 3,200.
Breakdown of Real Estate in Rhinebeck NY – July 2022
| Active | 3 |
| Avg. List | $1,863,333 |
| Avg. DOM | 19 |
| Avg. Sq. Ft. | 2549 |
| Avg $/Sq. Ft. | $731 |
| Offer | 4 |
| Avg. List | $1,239,750 |
| Avg. DOM | 43 |
| Avg. Sq. Ft. | 2848 |
| Avg $/Sq. Ft. | $439 |
| Offer CS | 1 |
| Avg. List | $585,000 |
| Avg. DOM | 70 |
| Avg. Sq. Ft. | 3,560 |
| Avg $/Sq. Ft. | $358 |
| Contract | 4 |
| Avg. List | $856,000 |
| Avg. DOM | 29 |
| Avg. Sq. Ft. | 2,388 |
| Avg $/Sq. Ft. | $358 |
Sales Activities In August 2022
| Sold | 4 |
| Average List | $ 828,125 |
| DOM | 32 |
| Avg. Sq. Ft | 2442 |
| Avg.$/ Sq. Ft | $339 |
| Avg. Sold | $838,875 |
| Avg. $/Sq. Ft | $343 |
Location of Rhinebeck home sales in August 2022
| Location | Price |
| Arnett | $ 463,500 |
| Hinterland | $ 717,000 |
| Vlei Rd | $ 725,000 |
| Johns Way | $ 1,450,000 |
Market update for the Village of Rhinebeck NY home sales in August 2022
In the Village of Rhinebeck NY in August 2022 two homes sold, and the sale price to list price came in at 101 percent since one house sold above the list price.
One home from 1947 was added to the inventory.
Two homes went under contract. One home was built in 1960 with square feet of 1664 square feet and priced at $549,900. The other was built in1980 with square feet of 1,487 and priced at $549,900.
Comparison of August 2022/2021 Home Sales in Rhinebeck Village
| Comparison | 2021 | 2022 |
| Average List | $749,667 | $558,000 |
| Average Sold | $780,500 | $562,000 |
| Median List | $577,000 | – |
| Median Sold | $582,500 | – |
| Sales | 6 | 2 |
| DOM | 74 | 56 |
Breakdown of Real Estate in Rhinebeck Village – August 2022
| Active | 1 |
| Avg. List | $750,000 |
| Avg. DOM | 1 |
| Avg. Sq. Ft. | 1,942 |
| Avg $/Sq. Ft | $386 |
| Contract | 2 |
| Avg. List | $ 549,450 |
| Avg. DOM | 43 |
| Avg. Sq. Ft. | 1,576 |
| Avg $/Sq. Ft. | $349 |
Sales Activities In August 2022
| Sold | 2 |
| Average List | $ 558,000 |
| DOM | 56 |
| Avg. Sq. Ft | 1,960 |
| Avg.$/ Sq. Ft | $285 |
| Avg. Sold | $562,000 |
| Avg. $/Sq. Ft | $287 |
Location of the Village of Rhinebeck home sale in August 2022
| Location | Price |
| South Parsonage | $447,000 |
| Violet Place | $677,000 |
Recent real estate observations
Some potential buyers who were actively looking are now priced out of the market due to inflation and the ongoing increase in mortgage rates,
With a shrinking buyer’s market some homes will be on the market for a longer period.
You are seeing more price reductions and open houses
Finding affordable housing and rental properties is still a challenge.
It is a better strategy to price a home a bit lower to attract more interest, 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.
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