Fewer home sales in Red Hook NY during July 2022
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||$860,250||Avg. List||$ 420,000|
|Avg. DOM||18||Avg. DOM||2|
|Avg. Sq. Ft.||2520||Avg. Sq. Ft||1546|
|Avg. $/Sq. Ft.||$341||Avg. $/Sq. Ft.||$272|
|Avg. List||$789,000||Avg. List||$ 452,667|
|Avg. DOM||48||Avg. DOM||28|
|Avg. Sq. Ft.||1784||Avg. Sq. Ft.||2,609|
|Avg. $/Sq. Ft.||$442||Avg. $/Sq. Ft.||$174|
|Avg. Sq. Ft.||3252|
|Avg. $/Sq. Ft.||$225|
Home Sales in Red Hook NY in July 2022
|Average List||$ 470,704||Albany Post Rd||$ 300,000|
|Square Feet||1606||Read Rd||$ 345,529|
|Average $/Sq Ft||$293||Echo Valley Rd||$ 460,000|
|Average Sold||$ 479,964||Metzger Rd||$ 636,500|
|Average $/Sq Ft||$ 299||Kelly 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|
Other July 2022 real estate activities
|Avg. List||$366,667||Avg. List||$ 399,000|
|Avg. DOM||28||Avg. DOM||2|
|Avg. Sq. Ft.||1059||Avg. Sq. Ft||1,437|
|Avg. $/Sq. Ft.||$346||Avg. $/Sq. Ft.||$278|
Home Sales in the Village of Red Hook NY in July 2022
|Average List||$ 475,000||Moul Dr||$475,000|
|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.