Rhinebeck Homes for Sale - January 2008 Market Analysis

Rhinebeck Town Hall, Rhinebeck, NY

Rhinebeck, Dutchess County, NY - Homes for Sale

January 2008 Market Analysis

Currently (as of February 2, 2008) in the town and Village of Rhinebeck in Dutchess County there are 65 homes for sale. 36 homes for sale are located in the Town of Rhinebeck and 29 are in the village of Rhinebeck. A video tour of Rhinebeck and the ability to search for homes in the Rhinebeck area are available to you by clicking on the links in this article.

I have displayed the data I collected in table format below for easy reading. The strict average and median prices are increased by a few high end homes in each area. For that reason I have included the average and median prices excluding the home over $1,000,000. I believe this better reflects the housing market in our area.

Homes Currently for Sale Average & Median Prices

Location	Number of Homes for Sale	Avg. price all for sale	Median Price all for sale	Avg. Price excluding > $1,000.000	Median Price excluding >$1,000,000
Town of Rhinebeck	36	$738,320	$545,000	$529,090	$499,000
Village of Rhinebeck	29	$513,512	$449,000	$451,533	$429,000

Homes Currently for Sale - Price Ranges

Location	Less than $500,000	$500,000-$999,999	Greater than $1,000,000
Town of Rhinebeck	13	14	9
Village of Rhinebeck	22	5	2

Homes Closed in January

Location	Sold	Avg. Days on Market	Average Price
Town of Rhinebeck	5	251**	$585,000***
Village of Rhinebeck	3	102	$693,000***

***Average prices are skewed by several homes selling for over 1 million dollars.

**DOM for town of Rhinebeck skewed by custom home under construction for over a year

Number of Pending Sales

Location	Number of Pending Sales
Town of Rhinebeck	4
Village of Rhinebeck	1

At the current rate of closings we have an 8.2 month supply of homes on the market as of February 2, 2008.

Just a quick note on the local real estate market. Our area of Northern Dutchess and Southern Columbia counties have not seen the decline in prices as many of the areas of the country have experienced. Our prices have dropped in the last year but most homes are still selling within 10% of asking price. A great house at a very good price can be purchased right now but don't expect prices that are well below the asking price to be accepted. We are not over built in our area and the demand for good housing remains strong.

What do these numbers mean for buyers? For one thing, you have a greater number of choices than buyers have had in a long time in our area. Secondly, you are most likely in a good position for negotiating a very fair price. For a copy of a Free Buyer's Guide sent via email to you about purchasing a home in the Mid Hudson Valley click on the free buyer's Guide Link.

What do these numbers mean for sellers? First and foremost your home must be priced correctly to sell. Call or email me for a no obligation, realistic market analysis of your home. Buyers have a lot to choose from and can move on from anything that is overpriced. Second, now is the time to be sure your home is in tip top condition. Make those repairs, keep everything looking fresh and clean and seriously consider hiring a Home Staging expert to help you prepare your home for sale.

For additional market report information you can go to my colleague's website at http://www.chrishackenbrockrealestate.com.preview.z57.com/professional4.shtml

*Statistics calculated by Diana Corcoran, Associate Broker

The information herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this website, at any time or from time to time. All information should be independently verified by the recipient of such data. This data is not warranted for any purpose. The use of these search facilities other than by a consumer seeking to purchase or lease real estate is prohibited.

For all of your real estate needs in the greater Rhinebeck - Red Hook, NY area contact:

Diana Corcoran, Associate Broker, Accredited Buyer Representative

Direct Phone: (845)224-5238

http://www.realestaterhinebeckny.com