Market update for Rhinebeck NY Home sales in July 2022

Market update for Rhinebeck NY Home sales in July 2022

Analysis of Rhinebeck NY home sales in July 2022

In Rhinebeck, NY during July 2022 three homes sold compared to nine in July 2021.  The sale price to list price came in at 110 percent  with all three homes selling above list price.​

​The homes sold ranged in price from $450,000 to $965,000.  Built between 1951 and 1960 with square feet ranging from 1,200 to 2,590

Rhinebeck NY home Price in July 2022

The average sale price came in at $733,333 this July, which was lower than the $792,195 at the same time last year. ​​

A median sale price of 785,000 was much higher than the $582,500 in July 2021.
Homes were on the market an average of 30 days before selling, which was much less than the 84 days at the same time last year.​

Comparison of July 2022/2021 Home Sales in Rhinebeck NY​

Average List$787,433$667,667
Average Sold$792,195$733,333
Median List$598,000$735,000
Median Sold$582,500 $785,000

Other Real Estate Activities During July

Two homes were added to the inventory, one from 1972 with square feet of 2,996 and priced at $785,000. The other from 2001 with square feet of 5,446 and price at $1,950,000.​​

Seven homes received offers, with prices ranging from $379,000 to $1,750,000. These homes were built between 1950 and 1998  with square feet from 1,786 to 4,193.​​

Two homes went under contract, one from 1950 with 1,786 square feet and priced at $379,000.  The other from 1850 with square feet of 2,775 and priced at $1,150,000.

Breakdown of Real Estate in Rhinebeck NY – July 2022

Avg. List$1,367,500​Avg. List$714,750​
Avg. DOM181Avg. DOM52
Avg. Sq. Ft.4,221Avg. Sq. Ft.2,802
Avg $/Sq. Ft$324Avg $/Sq. Ft$255
Offer CS3Contract2
Avg. List$848,000Avg. List$764,500
Avg. DOM30Avg. DOM55
Avg. Sq. Ft.2591Avg. Sq. Ft.2280
Avg $/Sq. Ft$327Avg $/Sq. Ft$335

Sales Activities In July 2022

Avg. List$ 667,667Sepasco Lake Rd$450,000
Avg. DOM30Salisbury Tpke$785,000
Avg. Sq. Ft.1,783James St$965,000
Avg $/Sq. Ft$374
Avg. List$733,333
Avg $/Sq. Ft$411

Market update for the Village of Rhinebeck NY home sales in July 2022

In the Village of Rhinebeck NY during July 2022  one single-family detached home sold according to the Mid Hudson MLS data.​​ This home priced at $1,440,000 was more than the $995,000 in July 2021.

One home received an offer, this was a home from 1900 with square feet of 1,764 and priced at $447,000.​​

Two homes went under contract.  One home was built in 1943 with square feet of 2,156 square feet and priced at $669,000.  The other was built in1900 with square feet of 1,624 and priced at $769,900.​

Comparison of July 2022/2021 Home Sales in Rhinebeck NY

Average List$1,100,000$1,475,000
Average Sold$995,000$1,440,000
Median List
Median Sold– 
Sales1 1

Breakdown of Real Estate in Rhinebeck Village – July 2022

Avg. List$447,000Avg. List$719,000
Avg. DOM40Avg. DOM43
Avg. Sq. Ft.1,764Avg. Sq. Ft.1,890
Avg $/Sq. Ft$253Avg $/Sq. Ft$380

Sales Activities In Rhinebeck Village in July 2022

Avg. List$ 1,475,000 Livingston St $1,440,000
Avg. DOM39
Avg. Sq. Ft.2,432
Avg $/Sq. Ft$606
Avg. List$1,440,000
Avg $/Sq. Ft$592

Recent real estate observations

Due to inflation and higher mortgage rates, some home buyers have decided to take a pause on their desire to purchase a home.​ Others are exercising more care in selecting a house, not waiving process such as inspection.

More listings are hitting the market, however there are also more price reductions.

Some homes are still getting multiple offers.​​

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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