Rhinebeck NY home sales rose in August 2023
Market update for Rhinebeck NY home sales in August 2023
Five single-family homes sold in Rhinebeck NY in August 2023, two more than in August 2022. The sale price to the list price was 98 percent, with three homes selling at the list price and two below.
The homes sold ranged in price from $360,000 to $1,350,000, built between 1952 and 1986 with square feet from 1,372 to 2,749.
Average and median sale prices for Rhinebeck NY home sales in August 2023
The average sale price came in at $649,400 which was less than the $964,000 recorded for the same time last year.
A median sale price of $475,000 was recorded this August compared to $725,000 last August.
These homes were on the market for an average of 82 days compared to 45 days in August 2022.
Comparison of August 2022/2023 Home Sales
| Comparison | 2022 | 2023 |
| Average List | $949,667 | $660,200 |
| Average Sold | $964,000 | $649,400 |
| Median List | $750,000 | $475,000 |
| Median Sold | $725,000 | $475,000 |
| Sales | 3 | 5 |
| DOM | 45 | 82 |
Other market activities during August 2023
Three homes were added to the town’s inventory, priced from $595,000 to $1,595,000, built between 1771 and 1893
Two homes received offers, one built in 2002 with square feet of 3,463 and priced at $850,000, the other from 2008 with square feet of 3,900 priced at $1,700,000.
Four homes went under contract, priced from $395,000 to $1,550,000, built between 1960 and 2003 with square feet from 1,372 and 3,510
Breakdown of Rhinebeck home sales in August 2023 and other activities.
| Active | 3 |
| Avg. List | $1,261,667 |
| Avg. DOM | 14 |
| Avg. Sq. Ft. | 3,057 |
| Avg $/Sq. Ft | $413 |
| Offer | 1 |
| Avg. List | $850,000 |
| Avg. DOM | 77 |
| Avg. Sq. Ft. | 3,463 |
| Avg $/Sq. Ft | $245 |
| Offer CS | 1 |
| Avg. List | $1,700,000 |
| Avg. DOM | 316 |
| Avg. Sq. Ft. | 1,531 |
| Avg $/Sq. Ft | $322 |
| Contract | 4 |
| Avg. List | $949,975 |
| Avg. DOM | 49 |
| Avg. Sq. Ft. | 2,482 |
| Avg $/Sq. Ft | $383 |
| Sales | 2023 |
| Average List | $550,200 |
| Square Ft | 1,957 |
| Average $/Sq Ft | $337 |
| Average Sold | $649,400 |
| Average $/Sq Ft | 332 |
| Sales | 5 |
| DOM | 82 |
| Location | Price |
| Rhinecliff Rd | $360,000 |
| Kimberly | $408,000 |
| Rhinecliff Rd | $475,000 |
| Primrose Hill Rd | $ 654,000 |
| Wurtemberg | S1,350,000 |
Village of Rhinebeck NY home sales in August 2023
There were two single-family sales in the Village of Rhinebeck NY, the same as in August 2022.
A sale price to the list price of 101 percent was recorded.
One of the homes sold was from 2005 it had square feet of 3,312 and was priced at $852,000. The other was from 1840, with square feet of 2,138 and priced at $997,500.
Comparison of home sales for August 2023 and 2022
| Comparison | 2022 | 2023 |
| Average List | $558,000 | $911,250 |
| Average Sold | $562,000 | $924,750 |
| Median List | – | – |
| Median Sold | – | – |
| Sales | 2 | 2 |
| DOM | 56 | 26 |
Other Real Estate Activities during August 2023
One home from 1875 with square feet of 5,678 and priced at $1,795,000 received an offer
A home from 1957 with square feet of 1,186 and priced at $595,000 went under contract
| Active | 2 |
| Avg. List | $1,795,000 |
| Avg. DOM | 112 |
| Avg. Sq. Ft. | 4,678 |
| Avg $/Sq. Ft | $384 |
| Contract | 1 |
| Avg. List | $595,000 |
| Avg. DOM | 262 |
| Avg. Sq. Ft. | 2,725 |
| Avg $/Sq. Ft | $334 |
| Sales | 2023 |
| Average List | $911,250 |
| Square Ft | 2,725 |
| Average $/Sq Ft | $334 |
| Average Sold | $924,750 |
| Average $/Sq Ft | $339 |
| Sales | 2 |
| DOM | 26 |
| Location | Price |
| Stortini Dr | $852,000 |
| Livingston St | $997,500 |
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
July 2023 Rhinebeck NY market report
Find a Rhinebeck NY home for sale here
Need more information on Rhinebeck real estate? contact Jennifer Fivelsdal
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