Red Hook NY Real Estate Market Report October 2008

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Red Hook NY Real Estate Market Report October 2008

Red Hook NY Real Estate Market Report October 2008

Last month I pointed out that the real estate inventory in Red Hook was high. Sadly it is still high with an inventory of 81 and one sale, that's right 1 sale. Spring Lake

The only point I am going to make this month is: If you really want to sell you will need to reduce your price.

Here is the breakdown for October.

	RED HOOK REAL ESTATE MARKET REPORT - SINGLE FAMILY HOMES SEPTEMBER 2008


CATEGORIES	AVG LISTING PRICE	DOM	AVG SQ FT	AVG $/SQ FT
72 Active	$ 468,306.00	143	2321	$202
1 New	$ 299,900.00	6	2014	$149
3 Price Change	$ 337,933 .00	131	2083	$162
2 Extended	$ 1,350,000.00	176	4800	$281
3 Pending	$ 346,267.00	179	1803	$192
1 Sold	$ 279,000.00	43	1444	$193


	AVG SOLD PRICE			AVG $/SQ FT
	$ 260,000.00			$ 180

STREET	SALE PRICE
Beech	$ 260,000.00

	RED HOOK VILLAGE REAL ESTATE MARKET REPORT - SINGLE FAMILY HOMES October 2008


CATEGORIES	AVG LISTING PRICE	DOM	AVG SQ FT	AVG $/SQ FT
6 Active	$ 358,067.00	106	1830	$196
1 Extended	$ 239,900.00	358	1260	$190
1 Sold	$ 239,000.00	96	1100	$217

	AVG SOLD PRICE	AVG $/SQ FT
	$ 230,000.00	$ 209

STREET	SALE PRICE
Moul Drive	$ 230,000.00

****Data for this report obtained from the MidHudson MLS System.

PREVIOUS MARKET REPORTS

September

August

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January

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

|subscribe to Blog

Posted by Jennifer Fivelsdal Rhinebeck Real Estate (Serving Dutchess| Columbia|Ulster Ctys on 11/04/2008 10:52 PM

Comments (17)

Red Hook Real Estate in the Real Estate Market Channel

red hook market report, homes for sale in red hook, red hook real estate

Originally posted at: Rhinebeck Living: Red Hook NY Real Estate Market Report October 2008

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17 Comments on Red Hook NY Real Estate Market Report October 2008

NOV

2008

I hope things turn around for your market - ours is starting to pick up - but now the snow is coming

NOV

2008

HI JENNIFER!

That's a great point! That seems to be fairly universal right now. I hope the sellers take your advice!

Hi Jennifer,
I believe we are going to start seeing some movement in the market. Your advice to sellers is the message they should hear and heed.

Jennifer, Good report for consumers. Wish you good luck. I have confidence that things will improve.

Jennifer good job keeping people up to speed on what is going on in your local market!

Jennifer,

You are 100% right. Before I have a listing signed, we talk extensively about future price reductions and when they will happen. I get buy in before we sign the listing. Otherwise, I face an uphill battle when the subject comes up later

Have a great day

Leander

It seems like a good time for a buyer to start getting into a home, a lot to choose from.

Jennifer -- your message is very simple and easy to understand. I think that sellers are becoming more realistic about pricing and the makret -- and we are certainly see that homes priced for the market do sell and often get multiple offers.

Jennifer,

One out of 89, yikes! Have you had an early snow or something? Or is it just the market?

Thesa - I sure hope we see more sales in November.

Yvette - Price reduction is key right now.

Cynthia- We know markets go in cycle so I am positive a correction will occur.

Gita - I feel the same way.

Bill - It is really important for consumers to know what's happening.

Leander - That is the correct way to address the subject, get agreement for price reduction during the listing appointment.

Kim - I agree there is a lot to choose from.

Joan - It is amazing what the right price reduction can do.

Lynda - wish I could blame it on snow, the truth is the market is slow.

NOV

2008

Good post Jennifer. I think the biggest disservice we can do to clients during this time in the market is fail to be honest with them about what they need to do to sell. I really like this post and your format. That picture at the top is gorgeous as well.

Kimberly You are so right, if seller are really motivated then the next step is to make the cut which will attract buyers.

Jennifer - You live in such a beautiful area. Hard to believe that there's only been one sale in the past month. You have provided some great stats for your area and advice that all sellers should take notice of to get their homes sold in today's market.

NOV

2008

Hi Jennifer ... I ran the stats for my usual monthly post in Cornwall ... only 2 sales and a large inventory. I was trying to determine a way to post this :) You took a good approach!

NOV

2008

ONE SALE? Oh no. I sure hope that things pick up soon for you.

BTW...I added you as an associate. I'm looking forward to getting to know you. GBU!

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Jennifer Fivelsdal Rhinebeck Real Estate (Serving Dutchess| Columbia|Ulster Ctys

Rhinebeck, NY

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LIC. R.E. Broker JFIVE Home Realty LLC

Address: 162 Deer Run Road, Red Hook, NY, 12571

Office Phone: (845) 758-6842

Cell Phone: (845) 594-9947

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