Market update for Red Hook NY home sales in October 2022
Red Hook NY home sales in October 2022
The market data for Red Hook NY home sales in October 2022 of single-family homes revealed eight sales, the same as in October 2021. The Sale Price to the List Price came in at 96 percent
Homes sold this October ranged in price from $306,000 to $637,000 built between 1957 and 2015 with square feet from 1,008 to 2,932.
Red Hook Home Prices In October 2022
Red Hook NY’s average sale price in October was $454,250 which was less than the $707,750 recorded for the same time last year when there was a million-dollar sale.
A median sale price of $429,000 was recorded this October compared to $661,250, for October 2021.
Comparison October 2022/2021
|Average List||$ 730,225||$ 455,375|
|Average Sold||$ 707,750||$ 454,250|
|Median List||$ 712,450||$ 432,500|
|Median Sold||$ 661,250||$ 429,000|
Other market activities in Red Hook October 2022
Six homes were added to the inventory, priced between $300,000 and $2,495,000 with square feet from 1,896 to 6,195 These homes were built between 1930 and 2023.
Offers were received on six homes; built between 1900 and 2002 with square feet from 1,028 to 3,424. These three and five-bedroom homes were priced between $265,000 and $1,150,000
During the month six homes went under contract, priced from $299,000 to $1,695,000, built between 1930 and 2015 with square feet from 1,008 to 2,932.
Activities In October 2022
|Avg. List||$1,300,817||Avg. List||$825,000|
|Avg. DOM||45||Avg. DOM||122|
|Avg. Sq. Ft.||3,220||Avg. Sq. Ft.||2,344|
|Avg $/Sq. Ft||$404||Avg $/Sq. Ft||$368|
|Avg. List||$329,975||Avg. List||$ 674,483|
|Avg. DOM||22||Avg. DOM||32|
|Avg. Sq. Ft.||1,755||Avg. Sq. Ft.||2,632|
|Avg $/Sq. Ft||$188||Avg $/Sq. Ft||256|
Sales Activities in October 2022
|Average List||$ 455,375|
|Avg. Sq. Ft||1,851|
|Avg.$/ Sq. Ft||$246|
|Avg. Sold||$ 454,250|
|Avg. $/Sq. Ft||$245|
|Overlook Dr||$ 485,000|
The Village of Red Hook NY Home Sales In October 2022
In the village, there was one sale in October 2022 the same as in October 2021.
One house was added to the inventory, two received offers and one went under contract.
Comparison of October 2022/2021 Home Sales in Red Hook Village
|Average List||$ 595,000||$ 469,999|
|Average Sold||$ 595,000||$ 516,000|
Activities In October 2022 Village of Red Hook NY
|Avg. List||$419,900||Avg. List||$397,500|
|Avg. DOM||6||Avg. DOM||22|
|Avg. Sq. Ft.||844||Avg. Sq. Ft.||1,354|
|Avg $/Sq. Ft||$498||Avg $/Sq. Ft||$294|
|Avg. Sq. Ft.||1,015|
|Avg $/Sq. F||$399|
Sale Location in the Village of Red Hook in October 2022
Real estate observations
Thirty-year mortgage rates at the time of writing this report were up 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.
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.