Red Hook NY home sales in August 2022 came in higher

Red Hook NY home sales in August 2022 came in higher

Market update for Red Hook NY home sales in August 2022

The Red Hook NY home sales In August 2022 came in at nine which was three more than in August 2021.   The Sale Price to List Price was 103 percent  due to two homes selling above the list price.

Homes sold in August ranged in price from $238,000 to $779,000 built between 1870 and 2018 with square feet from 696 to 3,600.

Single Family Home Price In August 2022

 Red Hook NY’s average sale price in August was $553,722 compared to $673,833 recorded for the same time last year.        

this August the median sale price was $580,000 up from $565,000 last August,

Comparison of August 2022/2021 home sales

Comparison 2021 2022
Average List$ 671,300$ 537,978
Average Sold$ 673,833$ 553,722
Median List$ 559,500$ 639,900
Median Sold$ 565,000$ 580,000
DOM100                  41  

Other Red Hook market activities during August 2022

 Nine homes were added to the inventory, priced between $219,000  and $1,250,000 with square feet from 950 to 2,885.  These homes were built between 1810 and 2023 and included one new construction.

Four homes received offers, built between 1935 and 2015 with square feet from 891 to 4,220.  These ones to four-bedroom homes were priced between $280,000 and $695,000.

Five homes went under contract, priced from $389,000 to $25,000,000 built between 1851 and 2003 with square feet from 1564 to 16,608.

 Data for August non sales activities

Avg. List$671,389
Avg. DOM36
Avg. Sq. Ft.1955
Avg $/Sq, Ft$343
Avg. List$516,333
Avg. DOM43
Avg. Sq. Ft.2589
Avg $/Sq. Ft.$199
Avg, List$649,999
Avg. DOM70
Avg, Sq. Ft2932
Avg $/Sq. Ft$222
Avg. List$5,370,800
Avg, DOM49
Avg, Sq. Ft4,733
Avg. Sq. Ft$1,135

Home Sales in Red Hook in August 2022 

Sales 2022
Average List$537,978
Square Ft1930
Average $/Sq Ft$269
Average Sold$553,722
Average $/Sq Ft $274
Sales 9     
DOM 41   

Locations of Red Hook home sales in August 2022

Rokeby Rd$238,000
Park Ave$540,000
Manor Rd$580,000
Sunrise Dr$689,000
Mill Rd$717,500
Albany Post Rd$750,000
Pitcher Ln$779,000

The Village of Red Hook NY home sales In August 2022

In the village, there was one sale in August 2022 compared to two at the same time last year.   This was a 2,600-square-foot home from 1957 which sold for $540,000.

Two homes received an offer and two went under contract.

Comparison of August 2022/2021 home sales

Comparison2021 2022
Average List$332,000$ 549,000
Average Sold$346,250$540,000
Median List
Median Sold –
Sales 21

Activities In August 2022 Village of Red Hook NY

Avg. List$350,000
Avg. DOM75
Avg. Sq. Ft.992
Avg $/Sq. Ft$353
Offer CS1
Avg. List$469,999
Avg, DOM19
Avg. Sq. Ft.1530
Avg $/Sq. Ft$307
Avg. List$375,000
Avg, DOM29
Avg. Sq. Ft.1093
Avg $/Sq. Ft$343

Home sale in the Village of Red Hook in August 2022 

Average List$ 549,000
Square Ft2,600
Average $/Sq Ft$211
Average Sold$540,000
Average $/Sq Ft$208

Sale Location in the village August 2022 

Park Ave$540,000

Real estate observations

◦Due to inflation and higher mortgage rates some home buyers were priced out of the market.

There are more open houses, as well as price reductions in the local market.

It is a better strategy to price a home a bit lower to attract more interest. Doing this could lead to more offers and a higher price. Pricing higher could make it necessary to reduce the price one or more times before getting an accepted offer.

Finding affordable housing or rental is still a challenge.

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