Fewer home sales in Red Hook NY during July 2022

Fewer home sales in Red Hook NY during July 2022

Red Hook NY July 2022 real estate

Update for Red Hook NY July 2022 real estate

 Red Hook NY July 2022 real estate home sales came in at five compared to thirteen in July 2021. A Sale Price to List Price of 102 percent was recorded, with four of the five homes selling above the list price.  ​​

The homes sold ranged in price from $300,000 to $ 657,800 built between 1910 and 2000 with square feet from 1,462 to 2,442.

July Home Price

The average Red Hook sale price this July at $479,964 was more than the $457,131 recorded for the same time last year.     ​

A median sale price of $460,000 was recorded for this July compared to 438,000 for July 2021.

Comparison of July 2022/2021 home sales

Average List$ 452,377$ 470,704 
Average Sold$ 457,131$ 479,964
Median List$ 399,900$ 449,000
Median Sold$ 438,000$ 460,000

Other market activities in July 2022

Nine homes were added to the inventory, priced between $345,000  and $2,295,000 with square feet from 1,008 to 4,320.  These homes were built between 1900 and 2013. ​​

Four homes received offers, built between 1920 and 1987 with square feet from 1,144 to 4,220.  These three to four-bedroom homes were priced between $305,000 and $789,000.​

Five homes went under contract, priced  from $599,900 to $995,000 and were built  between 1973 and 2018 with square feet from 2,630 to 4,000.​

Avg. List​$860,250Avg. List​$ 420,000
Avg. DOM18Avg. DOM2
Avg. Sq. Ft.2520Avg. Sq. Ft1546
Avg. $/Sq. Ft.$341Avg. $/Sq. Ft.$272
Avg. List​$789,000Avg. List​ $ 452,667
Avg. DOM48Avg. DOM28
Avg. Sq. Ft.1784Avg. Sq. Ft.2,609
Avg. $/Sq. Ft.$442Avg. $/Sq. Ft.$174
Avg. List​$723,760
Avg. DOM60
Avg. Sq. Ft.3252
Avg. $/Sq. Ft.$225

Home Sales in Red Hook NY in July 2022 

Average List$ 470,704Albany Post Rd$  300,000
Square Feet1606Read Rd$  345,529
Average $/Sq Ft $293Echo Valley Rd$  460,000
Average Sold $ 479,964Metzger Rd$  636,500
Average $/Sq Ft $ 299Kelly Rd$  657,000

The Village of Red Hook NY July 2022 real estate

In the village, there was one sale in July 2022 compared to five the same time last year.   This was a 3,200 square feet home from 1980 which sold for $475,000.​​

Three homes were added to the inventory, priced between $350,000 and $385,000 with square feet from 992 to 1,160​​

One home from 1952 and priced at $399,000 went under contract.

Comparison of July 2022/2021 Home Sales in Red Hook Village

Average List$440,800$ 475,000
Average Sold$439,900$ 475,000
Median List$317,500  
Median Sold$352,500

​  Other July 2022 real estate activities ​

Avg. List​$366,667Avg. List​$ 399,000
Avg. DOM28Avg. DOM2
Avg. Sq. Ft.1059Avg. Sq. Ft1,437
Avg. $/Sq. Ft.$346Avg. $/Sq. Ft.$278

Home Sales in the Village of Red Hook NY in July 2022 

Average List$ 475,000Moul Dr$475,000
Square Feet3,200
Average $/Sq Ft$148
Average Sold$ 475,000 
Average $/Sq Ft$148

A few real estate market observations

Due to inflation and higher mortgage rates some home buyers have decided to take a pause on their desire to purchase a home.​​ Others are now more selective in there home purchase, not foregoing the appraisal or inspection.

There are more open houses because homes are staying on the market longer, As a result, price reductions are more prevalent.

Some homes are still getting multiple offers.

It is a better strategy to price a home a bit lower to attract more interest, get more offers and a higher price, instead of pricing higher and then finding it necessary to reduce the price one or more times before getting an accepted offer.​​

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