Market update for Rhinebeck NY home sales in October 2022

Market update for Rhinebeck NY home sales in October 2022

Rhinebeck NY home sales in October 2022

Components of Rhinebeck NY home sales in October 2022

Rhinebeck, NY home sales in October 2022 report revealed seven homes sold compared to ten at the same time last year.  Three of the homes sold above a million dollars, and the sale price to the list price came in at 98 percent.

The homes sold ranged in price from $400.000 to $2.200,000  Built between 1928 and 2022 with square feet ranging from 1,481 to 3,238

Rhinebeck NY home Price in October 2022

The average sale price came in at $1,000,571 this October which was lower than the                               $1,132,390 at the same time last year.

$862,500 was the median sales price which was more than the $709,500 recorded in October 2021. 
Homes were on the market an average of 58 days before selling, which was much less than the 87 days

Comparison October 2022/2021 Home Sales in Rhinebeck NY

Average List$1,137,390$1,010,571
Average Sold$1,122,000 $993,929
Median List$647,500 $899,000
Median Sold$709,500   $862,500

Other Real Estate Activities During  October 2022

Seven homes were added to the inventory, Priced between $ 450,000 and $1,999,000 built between 1880 and 2022, with square feet from 1,060 to 4,424.

Five homes received offers, with prices ranging from $459,000 to $1.350,000.  These homes were built between 1972 and 1990 with square feet from 1,592 to 3,200.

Two homes went under contract one priced at $1,294,000 from 1971 with square feet of 2,864. The other is priced at $1,950,000 from 2001 with  square feet of 5,446.

Breakdown of Real Estate in Rhinebeck NY – October 2022

Avg. List$ 848,843Avg. List$739,750
Avg. DOM16Avg. DOM53
Avg. Sq. Ft.2,515Avg. Sq. Ft.2,301
Avg $/Sq. Ft$337Avg $/Sq. Ft$332
Offer CS1Contract3
Avg. List$1,350,000Avg. List$1,622,000
Avg. DOM13Avg. DOM215
Avg. Sq. Ft.3,200Avg. Sq. Ft.4,155
Avg $/Sq. Ft$422Avg $/Sq. Ft$390

Sales Activities In October 2022

Average List$ 1,010,571
Avg. Sq. Ft2,675
Avg.$/ Sq. Ft$378
Avg. Sold$993,929
Avg. $/Sq. Ft$372
Birchwood Dr$   400,000
Burger Rd$   410,000
Kerr Rd$   700,000
Route 9G$   862,500
Lilac$  1,095,000
Old Primrose$  1,290,000
Daisy Lane$  2,200,000

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

According to the Mid Hudson MLS data, there were no single-family detached home activities in October 2022.  In 2021 there were 4  sales ranging in price from $777,000 to $1,635,000.

Comparison October 2022/2021 Home Sales in the Village of Rhinebeck NY

Average List$928,475
Average Sold$1,003,000
Median List$ 807,450
Median Sold$ 800,000

Real Estate observation


Thirty-year mortgage rates at the time of writing this report were over 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.

Just Listed

342 Round Lake, Rhinebeck NY 12571 located six miles from the Village of Rhinebeck

372 Round Lake, Rhinebeck NY 12572
Jennifer Fivelsdal

No Comments

Leave a Comment

Your email address will not be published.