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 A review of Red Hook NY home sales in July 2023

In Red Hook NY home sales in July 2023 came in at eleven compared to four in July 2022.   The Sale Price to the List Price was 97 percent.

These homes ranged in price from  $315,000 to $3,755,000, built  between 1712 and 2012 with square feet from 1,144  to 6,300

 

  Average and median prices for Red Hook NY home sales in July 2023

The average sale price of these homes was $1,062,173 compared to an average sale price of $513,575 in July 2022 due to a sale of over 3 million dollars this year.

A median sale price of $610,000 was recorded this July, which was higher than the  $548,250 last July

This July homes were on the market for an average of 96 days, compared to 67 days at the same time last year.

 

Comparison of July 2023/2022 Home Sales

Comparison	2022	2023
Average List	$502,000	$1,090,345
Average Sold	$513,575	$1,062,173
Median List	$553,000	$649,900
Median Sold	$548.250	$610,000
Sales	4	11
DOM	67	96

 

Other market activities during July 2023

Eight homes were added to the inventory.  These homes ranged in price from $465,000 to $1,950,000, built between 1870 and a new construction to be completed in 2024. The square feet of these homes ranged from 1,680 to 3,950

Four homes received offers priced from $379,900 to $1,235,000, built between 1931 and 2023, spanning square feet from 844 to 3,365.

Three homes went under contract priced from $310,000 to $595,000.  Built between, 1965 and 1968 with square feet from 1,008 to 2,000.

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Breakdown of Red Hook NY home sales in July 2023

Active	8
Avg. List	$1,044,088
Avg. DOM	13
Avg. Sq. Ft.	2,369
Avg $/Sq. Ft	$441

Offer	2
Avg. List	$658,000
Avg. DOM	38
Avg. Sq. Ft.	2,211
Avg $/Sq. Ft	$298

Offer CS	2
Avg. List	$807,450
Avg. DOM	45
Avg. Sq. Ft.	2,104
Avg $/Sq. Ft	$384

Contract	3
Avg. List	$431,633
Avg. DOM	35
Avg. Sq. Ft.	1,553
Avg $/Sq. Ft	$278

Sales	2023
Average List	$1,090,345
Square Ft	2,888
Average $/Sq Ft	$377
Average Sold	$1,062,173
Average $/Sq Ft	$368
Sales	11
DOM	96

Location	Price
Cornell St	$315,000
Spring Lake Rd	$391,500
Aspinwall Rd	$450,000
Pitcher Ln	$575,000
Glen Ridge Rd	$579,000

Route 9G	$610,000
Benner Rd	$730,000
Country Club Dr	$875,000
Willard Dr	$982,5000
Angel Crest	$2,420,000
Linden Ave	$3,755,000

***Shown on Mid Hudson MLS but was listed on another MLS

 

Village of Red Hook NY home sales in July 2023

This July one home from 1900 sold in the Village of Red Hook per the Mid Hudson MLS, the same as in July 2022.

The sale price to the list price came in at 90 percent.

 

 Average Sale Price for the Village of Red Hook 

The average sale price of the home sold was $350,000, this was down from the sale in July 2022 which sold for $475,000.

 

Comparison of  home sales for 2023 and 2022

Comparison	2022	2023
Average List	$475,000	$389,900
Average Sold	$475,000	$350,000
Median List	–	–
Median Sold	–	–
Sales	1	1
DOM	50	80

Other Real Estate Activities during July 2023

One home priced at $379,000 was added to the inventory, and another home listed at $420,000 received an offer.

 

Active	1
Avg. List	$379,000
Avg. DOM	18
Avg. Sq. Ft.	1,384
Avg $/Sq. Ft	$282

Contract	1
Avg. List	$420,000
Avg. DOM	26
Avg. Sq. Ft.	2,163
Avg $/Sq. Ft	$194

 

Home sales activities in the Village

Sales	1
Average List	$ 389,900
Square Ft	1,384
Average $/Sq Ft	$282
Average Sold	$ 350,000
Average $/Sq Ft	$253
Sales	1
DOM	80

 

Location

Price

Thompson St	$350,000

 

Changes affecting the real estate market

 

1. Mortgage rates are now over seven percent, the highest in twenty years.

2. Home prices have risen to levels where some potential buyers are priced out of the market.

3. Inventory level is lower since some homeowners who would like to move on can’t do so because purchasing another home would be more expensive.

4. New home construction sales are doing well.

 

If you are looking for a Red Hook home, you can start your home search here

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