Rhinebeck NY home sales fell in June 2022
Market update for Rhinebeck NY home sales in June 2022
Rhinebeck NY home sales in June 2022 market update showed two homes sold compared to seven in June 2021. The sale price to list price came in at 84 percent with one house selling for $400,000 less than the list price.
Both homes were million-dollar sales, one from 1890 and the other from 1980;
Market update for Rhinebeck NY home sales in June 2022
The average sale price came in at $1,200,000 this June which was lower than the $1,277,571 at the same time last year.
Homes were on the market an average of 139 days before selling, which was much higher than the 17 days at the same time last year.
| Comparison | 2021 | 2022 |
| Average List | $ 1,282,857 | $ 1,422,500 |
| Average Sold | $ 1,277,571 | $ 1,200,000 |
| Median List | $ 925,000 | $- |
| Median Sold | $ 1,200,000 | $- |
| Sales | 7 | 2 |
| DOM | 17 | 139 |
Other market activities in Rhinebeck NY June 2022
Eleven homes were added to the inventory, these ranged in price from $350,000 to $1,495,000. Built between 1910 and 2022, the homes had square feet from 840 to 3,750.
Three homes received offers, with prices ranging from 465,000 to $1,350,000. These homes were built between 1890 and 2021 with square feet from 1290 to 3,200.
| Active | 11 | Offer | 1 | |
| Average List | $797,545 | Average List | $1,350,000 | |
| Average Days on market | 14 | Average Days on market | 45 | |
| Average Square Feet | 2,538 | Average Square Feet | 3,200 | |
| Average $/Square Feet | $314 | Average $/Square Feet | $422 | |
| Offer CS | 2 | |||
| Average List | $572,450 | |||
| Average Days on market | 44 | |||
| Average Square Feet | 1,876 | |||
| Average $/Square Feet | $305 |
Home sales in June 2022 in Rhinebeck NY
| Sales | June 2022 | Location | Price | |
| Average List | $1,422,500 | Primrose Hill Rd | $1,150,000 | |
| Average Square Feet | 2,950 | Route 9G | $1,250,000 | |
| Average $/Square Feet | $482 | |||
| Average Sold | $1,200,000 | |||
| Average $/Square Feet | $407 | |||
| Sales | 2 | |||
| DOM | 139 |
Market Update for the Village of Rhinebeck NY home sales in June 2022
In the Village of Rhinebeck NY during June 2022 no sales were recorded of homes listed on the Mid Hudson MLS.
Four homes were added to the inventory. These homes ranged in prices from $459.900 to $1,595,000 and were built between 1853 and 1930 with square feet from 1064 to 2150
Two homes received offers. One home was built in 1963 with square feet of 1,764 square feet and was priced at $447,000. The other was built in 1960 with square feet of 1664 and priced at $549,900
Comparison of June 2022/2021 Home Sales in Rhinebeck Village
| Comparison | 2021 | 2022 |
| Average List | $ 942,500 | $ – |
| Average Sold | $ 887,500 | $- |
| Median List | $ – | $- |
| Median Sold | $ – | $- |
| Sales | 2 | – |
| DOM | 124 | – |
| Active | 4 | Offer | 2 | |
| Average List | $912,225 | Average List | $498,450 | |
| Average Days on Market | 133 | Average Days on Market | 14 | |
| Average Square Feet | 1,625 | Average Square Feet | 1,714 | |
| Average $/Square Feet | $421 | Average $/Square Feet | $291 |
Data used in this report came from the Mid Hudson MLS. Deemed reliable but not guaranteed. Late reporting could cause numbers to be adjusted. (the report does not include private sales)
Recent real estate observations
Due to inflation and higher mortgage rates, some home buyers have decided to take a pause on their desire to purchase a home.
There is a more noticeable price reduction in homes listed for sale.
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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