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Red Hook Real Estate Market Report - June 2008 and highlights from the first half of 2008.

By
Real Estate Broker/Owner with JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 10491201242

Flower garden in Red Hook NY

 Flowers from a Red Hook NY garden

 It is hard to believe we are already half way through 2008, so this was a good time to look back to see how the real estate market has done so far.

When this report was pulled on June 30th there were over 70 listings on the market.    So far, between the town of Red Hook and the village about 25 homes have sold over the last six months.  How does this compare to 2007?  In 2007 for the entire year 63 properties sold therefore 2008 sales is not lagging too much behind.

Very often I am asked;  how is the market? is anything selling? yes properties are selling it is just taking a little longer.

If you are planning to put your property on the market you will have stiff competition so it is important to start out with a realistic price in order to achieve a competitive edge.

 

 

       RED HOOK REAL ESTATE MARKET REPORT JUNE 2008

 

 

 

 

 

 

 

  

 

 

 

 

 

CATEGORIES

AVG LISTING PRICE

DOM

AVG SQFT

AVG $/SQFT

 

59 Active

 $      528,219.00

121

2526

$209

 

7 New

 $      376,714.00

4

1861

$202

 

1 Offers

 $      499,000.00

320

2900

$172

 

1 Offers CS

 $      249,000.00

24

2016

$124

 

5 Price Chg.

 $      352,740.00

71

1886

$187

 

5 Contract

 $      432,560.00

194

2510

$172

 

3 Sold

     $       384,933.00     

253

2405

$160

 

  

AVG SOLD PRICE

 

 

AVG SOLD$/SQFT

 

  

 $      350,000.00

 

 

$146

 

STREET

SALE PRICE

 

 

 

 

Morry Road

$         225,000.00

 

 

 

 

Hoffman Woods

$         400,000.00

 

 

 

 

Station Hill Road

$         425,000.00

 

 

 

 

  

    

 

 

 

 

 

  

       RED HOOK REAL ESTATE MARKET REPORT JAN-JUNE 2008

 

 

 

 

  

     

 

 

 

 

 

  

  

 

 

 

 

 

CATEGORIES

AVG LISTING PRICE

DOM

AVG SQFT

AVG $/SQFT

 

 

59 Active

 $      528,219.00

121

2526

$209

 

7 New

 $      376,714.00

4

1861

$202

 

3 Offers

 $      326,967.00

336

1760

$186

 

1 Offers CS

 $      249,000.00

24

2016

$124

 

5 Price Chg.

 $      352,740.00

71

1886

$187

 

8 Contract

 $      445,388.00

190

2506

$176

 

20 Sold

         $   375,420.00    

204

2281

$165

 

  

AVG SOLD PRICE

 

 

AVG SOLD$/SQFT

 

  

 $      351,175.00

 

 

$154

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

       RED HOOK VILLAGE REAL ESTATE MARKET REPORT JUNE 2008

 

 

 

 

 

 

 

  

 

 

 

 

 

CATEGORIES

AVG LISTING PRICE

DOM

AVG SQFT

AVG $/SQFT

 

6 Active

 $      340,233.00

92

1954

$174

 

1 New

 $      269,000.00

6

1100

$245

 

1 Offers

 $      499,000.00

376

2900

$172

 

1 Offers CS

 $      254,900.00

231

1260

$202

 

1 Contract

 $      329,900.00

68

1662

$198

 

2 Sold

 $      268,950.00

113

1882

$143

 

  

              

 

 

 

 

  

AVG SOLD PRICE

 

 

AVG SOLD$/SQFT

 

  

 $      262,500.00

 

 

$140

 

STREET

SALE PRICE

 

 

 

 

Amherst

$    238,000.00

 

 

 

 

Cambridge

          $     287,000.00

 

 

 

 

  

       

 

 

 

 

  

 

 

 

 

 

  

       RED HOOK REAL ViILLAGE ESTATE MARKET REPORT JAN-JUNE 2008

 

 

 

 

  

     

 

 

 

 

 

  

  

 

 

 

 

 

CATEGORIES

AVG LISTING PRICE

DOM

AVG SQFT

AVG $/SQFT

 

 

7 Active

         $       330,057.00

81

1832

                 $180

 

1 New

 $      269,000.00

6

1100

$245

 

1 Offers

 $      499,000.00

376

2900

$172

 

1 Offers CS

 $      254,900.00

231

1260

$202

 

2 Contract

 $      314,900.00

124

1781

$177

 

5 Sold

         $      259,360.00    

100

1687

$154

 

  

AVG SOLD PRICE

 

 

AVG SOLD$/SQFT

 

  

 $      255,600.00

 

 

$152

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

  

 

 

 

 

 

 Data gathered from the Mid Hudson Multiple listing service

 

                                                                

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

www.jfivehomes.com or www.midhudsonhomevalue.com

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Copyright © by Jennifer Fivelsdal, all rights reserved

 

Comments (5)

Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Jennifer,

Great market report for Red Hook. You always do such a great job on your market area.  It seems like you still have homes that are selling, it sure seems like a nice area to me.

Jul 02, 2008 04:44 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Lynda - Thank you.  When comparing sales to last year the number of sales is clos,so I think Red Hook is on track to close the same or more listing this year.  But then again this is real estate you just never know.

Jul 03, 2008 01:44 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jennifer great pictures of the flowers, lets hope that the market starts to look as good as them in the very near future.

Jul 03, 2008 12:08 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

George - Actual Red Hook is is on track to sell as many homes as last year.  Yes the inventory is high and I suspect some sellers will do what it takes to get more competitive.

Jul 04, 2008 03:04 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Jennifer, don't know about the houses, but those yellow flowers are totally gorgeouw!  I'd buy a place with those in the front yard!

Jul 04, 2008 07:39 AM