Market update for Red Hook NY home sales in October 2022

Market update for Red Hook NY home sales in October 2022

 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$1,300,817Avg. List$825,000
Avg. DOM45Avg. DOM122
Avg. Sq. Ft.3,220Avg. Sq. Ft.2,344
Avg $/Sq. Ft$404Avg $/Sq. Ft$368
Avg. List$329,975Avg. List$ 674,483
Avg. DOM22Avg. DOM32
Avg. Sq. Ft.1,755Avg. Sq. Ft.2,632
Avg $/Sq. Ft$188Avg $/Sq. Ft256

Sales Activities in October 2022

Average List$ 455,375
Avg. Sq. Ft1,851
Avg.$/ Sq. Ft$246
Avg. Sold$ 454,250
Avg. $/Sq. Ft$245
Pitcher Ln$306,000
Route 9G$359,000
Birchwood Dr$389,000
Shady Ln$418,000
Carriage Dr$440,000
Overlook Dr$ 485,000
Linden Ave$600,000
Budds Corner $637,000

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
Median List
Median Sold

 Activities In October 2022 Village of Red Hook NY

Avg. List$419,900Avg. List$397,500
Avg. DOM6Avg. DOM22
Avg. Sq. Ft.844Avg. Sq. Ft.1,354
Avg $/Sq. Ft$498Avg $/Sq. Ft$294
Avg. List$405,000
Avg. DOM181
Avg. Sq. Ft.1,015
Avg $/Sq. F$399

Sale Location in the Village of Red Hook in October 2022 

Fraleigh St$516,000

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.

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