Market update for Rhinebeck NY Home sales in July 2022
Analysis of Rhinebeck NY home sales in July 2022
In Rhinebeck, NY home sales in 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
| Comparison | 2021 | 2022 |
| Average List | $787,433 | $667,667 |
| Average Sold | $792,195 | $733,333 |
| Median List | $598,000 | $735,000 |
| Median Sold | $582,500 | $785,000 |
| Sales | 9 | 3 |
| DOM | 84 | 30 |
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 is from 1850 with square feet of 2,775 and priced at $1,150,000.
Breakdown of Real Estate in Rhinebeck NY – July 2022
| Active | 2 | Offer | 4 | |
| Avg. List | $1,367,500 | Avg. List | $714,750 | |
| Avg. DOM | 181 | Avg. DOM | 52 | |
| Avg. Sq. Ft. | 4,221 | Avg. Sq. Ft. | 2,802 | |
| Avg $/Sq. Ft | $324 | Avg $/Sq. Ft | $255 | |
| Offer CS | 3 | Contract | 2 | |
| Avg. List | $848,000 | Avg. List | $764,500 | |
| Avg. DOM | 30 | Avg. DOM | 55 | |
| Avg. Sq. Ft. | 2591 | Avg. Sq. Ft. | 2280 | |
| Avg $/Sq. Ft | $327 | Avg $/Sq. Ft | $335 | |
Sales Activities In July 2022
| Sold | 3 | Location | Price | |
| Avg. List | $ 667,667 | Sepasco Lake Rd | $450,000 | |
| Avg. DOM | 30 | Salisbury Tpke | $785,000 | |
| Avg. Sq. Ft. | 1,783 | James 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 in 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 in 1900 with square feet of 1,624 and priced at $769,900.
Comparison of July 2022/2021 Home Sales in Rhinebeck NY
| Comparison | 2021 | 2022 |
| Average List | $1,100,000 | $1,475,000 |
| Average Sold | $995,000 | $1,440,000 |
| Median List | – | – |
| Median Sold | – | – |
| Sales | 1 | 1 |
| DOM | 47 | 39 |
Breakdown of Real Estate in Rhinebeck Village – July 2022
| Offer | 1 | Contract | 2 | |
| Avg. List | $447,000 | Avg. List | $719,000 | |
| Avg. DOM | 40 | Avg. DOM | 43 | |
| Avg. Sq. Ft. | 1,764 | Avg. Sq. Ft. | 1,890 | |
| Avg $/Sq. Ft | $253 | Avg $/Sq. Ft | $380 |
Sales Activities In Rhinebeck Village in July 2022
| Sold | 1 | Location | Price | |
| Avg. List | $ 1,475,000 | Livingston St | $1,440,000 | |
| Avg. DOM | 39 | |||
| 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 pause 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 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.
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