Market update for Rhinebeck NY home sales in July 2023
Rhinebeck NY home sales in July 2023 revealed four sales, one more than in July 2022. The sale price to the list price came in at 103 percent, with the most expensive home selling at $225,000 over the list price.
The homes sold ranged in price from $449,000 to $2,900,000, built between 1830 and 2023 with square feet from 1,592 to 5,222.
Average and median sale prices for Rhinebeck NY home sales in July 2023
The average sale price came in at $1,331,000, more than the $733,333 recorded for the same time last year.
A median sale price of $987,500 was recorded this July compared to $785,000 last July.
These homes were on the market for an average of 42 days, up from the 30 days recorded for July 2022.
Comparison of July 2022/2023 Home Sales
|Median Sold||$785,000||$ 987,500|
Other market activities during July 2023
Two homes were added to the town’s inventory, priced at $349,900 and $4,850,000. The most expensive house was built in 2003 with square feet of 8,682. The other home from 1940 had square feet of 1451.
There were two offers, the house built in 1955 with square feet of 1,638 was priced at $654,000, and the other from 1880 had square feet of 3,040 with a list price of $1,595,000.
Three homes went under contract, priced from $389,900 to $649,000, built between 1904 and 1977 with square feet from 1,060 and 1,882
Breakdown of Rhinebeck home sales in July 2023 and other activities.
|Avg. Sq. Ft.||5,066|
|Avg $/Sq. Ft||$513|
|Avg. Sq. Ft.||2,339|
|Avg $/Sq. Ft||$481|
|Avg. Sq. Ft.||1,531|
|Avg $/Sq. Ft||$322|
|Average $/Sq Ft||$461|
|Average $/Sq Ft||474|
|Sepasco Center St||$449,000|
Village of Rhinebeck NY home sales in July 2023
In the Village of Rhinebeck NY home sales in July 2023 at three was one more than in July 2022.
A sale price to the list price of 99 percent was recorded.
The homes sold ranged in price from, $384,500 and $616,750, built between 1930 and 1950 with square feet from 1,596 to 1,817.
Comparison of home sales for July 2023 and 2022
Other Real Estate Activities during July 2023
One home was added to the Village inventory in July, a home from 1900 with square feet of 2,630 and priced at $1,299,000.
Two homes went under contract. The least expensive home from 2005 had square feet of 3,312 and was listed at $825,000. An antique home from 1840 with square feet of 2,138 was listed at $997,500.
|Avg. Sq. Ft.||2,630|
|Avg $/Sq. Ft||$494|
|Avg. Sq. Ft.||2,725|
|Avg $/Sq. Ft||$334|
|Average List||$ 497,967|
|Average $/Sq Ft||$296|
|Average $/Sq Ft||$292|
Changes affecting the real estate market
1. Mortgage rates are now over seven percent, the highest in twenty years.
2. Home prices have risen to levels where some potential buyers are priced out of the market.
3. Inventory level is lower since some homeowners who would like to move on can’t do so because purchasing another home would be more expensive.
4. New home construction sales are doing well since the resale inventory is lower.
Need more information on Rhinebeck real estate? contact Jennifer Fivelsdal
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