Red Hook NY home sales in September 2022 revealed a sale of $18,500,000

Red Hook NY home sales in September 2022 revealed a sale of $18,500,000

Red Hook NY home sales in September 2022

Market update Red Hook NY home sales in September 2022

Red Hook NY home sales in September 2022 of single-family homes came in at ten, six more than in September 2021.   The Sale Price to List Price was 79 percent due to the most expensive home selling at $6,500,000 below the list price.

Homes sold in September ranged in price from $389,000 to $18,500,000 built between 1851 and 2009 with square feet from 1,546 to 16,608.

Single Family home price in September 2022

  Red Hook NY’s average sale price in September was $2,372,600  which was more than the $941,875 recorded for the same time last year when there were no million-dollar sales.   

A median sale price of $577,000 was recorded this September compared to 959,250, for September 2021.

Comparison of September 2022/2021 home sales

Comparison 2021 2022
Average List$ 948,750$ 3,009,190
Average Sold$ 941,875$ 2,372,600
Median List$ 962,000$ 562,000
Median Sold$ 959,250$ 577,000
Sales4   10
DOM40                44 

Other Red Hook market activities during September 2022

 Six homes were added to the inventory, priced between $320,000  and $2,425,000 with square feet from 1,004 to 4.990  These homes were built between 1909 and 2023 and included one new construction.

Five homes received offers, built between 1900 and 2015 with square feet from 1,539 to 2,932.  These three and  four-bedroom homes were priced between $383,000 and $1,150,000

Four homes went under contract, priced  from $280,000 to $695,000,  built  between 1935 and 1987 with square feet from 891 to 2,656

Other real estate activities in September 2022  

Avg. List$1,110,650
Avg. DOM13
Avg. Sq. Ft.2,698
Avg $/Sq, Ft$412
Avg. List$504,000
Avg. DOM47
Avg. Sq. Ft.2283
Avg $/Sq. Ft.$221
Avg, List$837,500
Avg. DOM109
Avg, Sq. Ft2228
Avg $/Sq. Ft$376
Avg. List$411,250
Avg, DOM51
Avg, Sq. Ft1,387
Avg. Sq. Ft$297

Home Sales in Red Hook in September 2022 

Sales Data 2022
Average List$3,009,190
Square Ft3,870
Average $/Sq Ft$778
Average Sold$2,372,600
Average $/Sq Ft $613
Sales 10   
DOM 44  

Locations of Red Hook home sales in September 2022

Birchwood Dr$389,000
Whalesback Rd$420,000
Apple Tree Dr$425,000
Feller Newmark $553,000
Wildey Rd$570,000
River Rd$584,000
Elm St$617,000
Fraleigh Ln$683,000
North Dr$985,000
Eden Knolls$18,500,000

The Village of Red Hook NY home sales In Septrmber 2022

In the village, there were three sales in September 2022 compared to none at the same time last year.   The sale price to list price came in at 101 percent.

The homes sold ranged in price from $350,000 to $390,000, built between 1950 and 1970 with square feet from 992 to 1,160

One house was added to the inventory, and another went under contract.

Comparison of September 2022/2021 home sales

Comparison2021 2022
Average List$ 366,667
Average Sold$371,667
Median List$365,000
Median Sold$375,000

Activities In September 2022 Village of Red Hook NY

Avg. List$499,900
Avg. DOM1
Avg. Sq. Ft.2,,559
Avg $/Sq. Ft$195
Avg. List$469,999
Avg, DOM19
Avg. Sq. Ft.1530
Avg $/Sq. Ft$307

Village of Red Hook NY home sales in September 2022 

Average List$ 366,667
Square Ft1,059
Average $/Sq Ft$346
Average Sold$371,667
Average $/Sq Ft$351

Sale Location in the village September 2022 

Brenner Rd$ 350,000
Garden$ 375,000
Phillips$ 390,000

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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