The Source for the Rhinebeck Village Homes sold between 2007 and 2011 is the Mid–Hudson Multiple Listing Service Inc (MHMLS). These figures for single family detached homes sold in the Village of Rhinebeck NY do not represent the total Village of Rhinebeck NY real estate sales in Dutchess County. These figures for homes sold in the Village of Rhinebeck NY reflect the sales activity of the MHMLS, which comprises the largest sales volume sampling. The homes sold in the Village of Rhinebeck NY that are privately or For Sale by Owner are not included in the sales volume sampling.
I would like to briefly explain the MHMLS.
The real estate brokers in the MHMLS have agreed to share their listings– information on properties features. All the homes on the MHMLS are pooled together in one listing.
What does that mean to the home buyer? A Buyer’s agency as Dirt Road Realty, a real estate agency committed exclusively to the home buyer, the home buyer can search for their home in one Rhinebeck Real Estate listing –in one place not searching multiple agencies for the same home.
Rhinebeck Village Homes Sold between 2007 and 2011
Year SoldNumber of Homes SoldAverage PriceMedian Price
1. In the year 2007,there was the greatest percentage difference between Average and Median Price for the homes sold in the Village of Rhinebeck. It was 22% for the year 2007 and 16% for the year 2011. (See note C below)
2. Between the years 2007 and 2011,there was a 34% decrease in the Average Price for the Village of Rhinebeck homes sold.
3. Between the years 2007 and 2011,there was a 30% decrease in the Median Price for the Village of Rhinebeck homes sold.
4. Between the years 2007 and 2011, NONE of the Average or Median Price for homes sold in the Village of Rhinebeck was above $500,000.
A. I’d prefer to see the raw data yet some insist on presenting them to support their point of view. Here’s an example of statistical manipulation of the following raw data: 10, 15, 20, 25, 1,000, 2,000 5,000. The median is 25, the average is 1153. Depending how one wants to spin the story, the median or the average could be selected.
B. Real estate pricing deals with the valuation of real estate and all the standard methods of determining the price of fixed assets apply. The median home price is one of the most common measurements used to compare real estate prices in different markets, areas, and periods. It is said to be less biased than the mean (average) price since it is not as heavily influenced by small number of very highly priced homes.
C. Median Sales Price: The midpoint between the most expensive house and the least expensive house sold in an area during a specific time. The midpoint of the price of homes – equal number of properties sold above the median price as the number of properties sold below the median price. The Median Sales Price is often used as an indicator of the strength and the direction of the real estate market. Median home sales numbers usually provide a better gauge of home prices than average sale price.
D. Average Sales Price: This is more plain and simple. You take the number of properties you are looking at and you add up their total. Once you have that number you divide by the number of properties and you have the average sales price for that particular search.
Harvey Brown, Principal Broker
Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
DIRT ROAD REALTY NEWS
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