After reviewing the sales trend over several months I predicted a large inventory would be carried forward to 2009. This month there were only two sales of single family detached homes and 3 offers.
Mortgage price has dropped, so has the price on many properties. There is talk of some intervention to bring mortgage price even lower but only time will tell. This month because of the lower rates many are using the opportunity to refinance to get a better rate or to get some equity out of their home to help them through this challeging time.
Here is the real estate activities for the month of November compiled from data obtained from the Mid Hudson Multiple Listing services on December 1st.
Average List Price: $490,093
Days on Market: 163
Average Square Feet: 2386
Average $ Square Feet: $205
Average List Price: $ 295,000
Days on Market: 3
Average Square Feet: 2000
Average $ Square Feet: $148
- Accepted Offer - Continue Showing 2
Average List Price: $ 349,000
Days on Market: 290
Average Square Feet: 2074
Average $ Square Feet: $168
Average List Price: $ 749,900
Days on Market: 50
Average Square Feet: 5600
Average $ Square Feet: $134
Average List Price: $ 489,000
Days on Market: 316
Average Square Feet: 2616
Average $ Square Feet: $187
Average List Price: $ 449,000
Days on Market: 157
Average Square Feet: 2426
Average $ Square Feet: $185
Average List Price: $ 249,450
Days on Market: 241
Average Square Feet 1169
Average $ Square Feet: $213
Average Sold: $ 232,500
Average Sold $ Square Feet: $199
Village of Red Hook NY Real Estate Market Report November 2008
Average List Price: $336,900
Days on Market: 102
Average Square Feet: 1866
Average $ Square Feet: $181
Average List Price: $239,900
Days on Market: 385
Average Square Feet: 1260
Average $ Square Feet: $190
**** This report only reflects single family detached homes listed in the Multiple Listing service.
Jennifer Fivelsdal -Licensed Real Estate Broker
JFIVE HOMES REALTY LLC 845-758-6842
www.jfivehomes.com or www.midhudsonhomevalue.com jennifer@jfivehomes.com
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copyright © by Jennifer Fivelsdal, all rights reserved-Red Hook NY Real Estate Market Report November 2008
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Jennifer, how are you able to tell that there are offers? We don't have that category here. We have an option pending category. I wonder if that is the same thing.