Red Hook NY Home sales in May 2023 real estate market update
The Red Hook NY home sales in May 2023 revealed four single-family homes sold, which was down from the seven recorded for the same time last year. A sale price to list price ratio of 98 percent indicates the market is still attractive.
Home sold ranged in price from $449,000 to $995,000, with diverse options and budgets.
A home from another MLS was shared with the Mid Hudson MLS. The home was built in 1930, with square feet of 1,896 and sold for $180,000.
It is always fascinating to see housing trends over time.
Average and median prices for Red Hook NY home sales in May 2023
In May 2023, the average price of the homes sold in Red Hook NY was $628,500, down from the average price of $724,071 in May 2022. The variation might be due to the types of properties and the price point.
On the other hand, the median sale price at $535,000 was an increase over $500,000 at the same time last year.
Homes were on the market 48 days before selling compared to 42 in May 2022.
Comparison of May 2023/2022 Home Sales
| Comparison | 2022 | 2023 |
| Average List | $ 723,843 | $ 642,250 |
| Average Sold | $724,071 | $ 628,500 |
| Median List | $499,900 | $562,500 |
| Median Sold | $500,000 | $535,000 |
| Sales | 7 | 4 |
| DOM | 42 | 48 |
Other market activities during May 2023
An assortment of homes was added to the inventory, with prices ranging from an affordable $308,000 to $2,495,000 their foundation was laid between 1957 and 2023. The diverse square footage ranged from a cozy 924 square feet to a sprawling 5,025 square feet of luxurious living space.
Five prospective homeowners stepped forward and made offers, ranging from $310,000 to $795,000. These homes were built between 1930 and 2001, ranging in size from charming 1,008 square feet to a spacious 3,442 square feet.
During the month five homes went under contract, these homes ranging in price from $384,500 to a staggering $2,690,000. The size of these homes ranged from 1,300 square feet to an astonishing $6,300 square feet.
Breakdown of May real estate activities
| Active | 9 |
| Avg. List | $1,081,211 |
| Avg. DOM | 7 |
| Avg. Sq. Ft. | 2,531 |
| Avg $/Sq. Ft | $427 |
| Offer | 1 |
| Avg. List | $350,000 |
| Avg. DOM | 26 |
| Avg. Sq. Ft. | 1,680 |
| Avg $/Sq. Ft | $208 |
| Offer CS | 4 |
| Avg. List | $634,975 |
| Avg. DOM | 119 |
| Avg. Sq. Ft. | 2,487 |
| Avg $/Sq. Ft | $255 |
| Contract | 5 |
| Avg. List | $1,090,700 |
| Avg. DOM | 72 |
| Avg. Sq. Ft. | 3,174 |
| Avg $/Sq. Ft | $344 |
| Sales | 2023 |
| Average List | $ 642,250 |
| Square Ft | 2,237 |
| Average $/Sq Ft | $287 |
| Average Sold | $ 628,500 |
| Average $/Sq Ft | $281 |
| Sales | 4 |
| DOM | 48 |
| Location | Price |
| Linden Ave | $449,000 |
| Baxter Rd | $485,000 |
| Albany Post Rd | $585,000 |
| Feller Newmark | $995,000 |
| ***Benner Rd | $180,000 |
***Shown on Mid Hudson MLS but was listed on another MLS
Village of Red Hook NY home sales in May 2023
Two homes were sold in the village of Red Hook in May. With a sale Price to list price of 98 percent which was an indication the homes were priced reasonable.
The first home built in 2000 and spanning 1,100 square feet, sold for $372,000.
A second home was from 1916 with a square footage of 1,972. it sold for $667,200. It’s fascinating to think about the history and unique architectural elements that an older home like this might possess.
Median and Average Prices for the Village of Red Hook home sales
In May the average sale price in the village was $519,600, which was in a downward trend when compared to $712,000 in May 2022.
Additionally, homes were on the market for 38 days this May before selling, compared to 20 days at the same time last year.
Comparison of home sales for 2023 and 2022
| Comparison | 2022 | 2023 |
| Average List | $657,000 | $530,750 |
| Average Sold | $712,000 | $519,600 |
| Median List | – | – |
| Median Sold | – | – |
| Sales | 2 | 2 |
| DOM | 20 | 38 |
Other Real Estate Activities during May 2023
Two homes were added to the Village inventory in May. The first home was built in 1950 with 950 square feet and was listed at $384,500.
A home from 1985 with square feet of 1,242 was the second home, it was listed at 387,500
| Active | 2 |
| Avg. List | $386,000 |
| Avg. DOM | 7 |
| Avg. Sq. Ft. | 1,097 |
| Avg $/Sq. Ft | $352 |
| Offer | 1 |
| Avg. List | $389,900 |
| Avg. DOM | 51 |
| Avg. Sq. Ft. | 1,384 |
| Avg $/Sq. Ft | $282 |
| Contract | 1 |
| Avg. List | $421,000 |
| Avg. DOM | 65 |
| Avg. Sq. Ft. | 1,015 |
| Avg $/Sq. Ft | $415 |
Home sales activities in the Village
| Sales | 2023 |
| Average List | $ 530,750 |
| Square Ft | 1,536 |
| Average $/Sq Ft | $346 |
| Average Sold | $ 519,600 |
| Average $/Sq Ft | $338 |
| Sales | 2 |
| DOM | 38 |
| Location | Price |
| Smith St | $372,000 |
| Fraleigh | $667,200 |
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