Dirt Road Realty News > Rhinebeck Real Estate Homes Sold in Rhinebeck NY in November 2011

Rhinebeck Real Estate Homes Sold in Rhinebeck NY in November 2011

Rhinebeck Real Estate Homes Sold in Rhinebeck NY in November 2011

The Source for Rhinebeck real estate homes sold in Rhinebeck real estate is the Mid–Hudson Multiple Listing Service Inc (MHMLS). These figures for single family detached homes sold in Rhinebeck NY do not represent the total Rhinebeck real estate sales in Dutchess County. These figures for homes sold in Rhinebeck real estate reflect the sales activity of the MHMLS, which comprises the largest 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.

4 Rhinebeck Homes Sold
During the Month of November 2011

Homes sold in the Rhinebeck real estate market during the month of November told a story that is homes above $500,000 are being hard hit in this Rhinebeck real estate market. Dana Olick of CNBC wrote
Higher-End Housing Hits a Wall

Because when I say "high–end" I'm not talking multi–million dollar homes, I'm talking about homes over $500,000, which are move–up homes. If there's no move–up market, then there can be no real recovery because all the action is taking place in the distressed market, which then artificially pulls down the national home price numbers and scares the rest of the market away.

No move-up market also means those in higher priced homes who need to sell can't, and that could push up delinquencies on jumbo and even higher–priced conforming loans. Think of all the baby boomers who need to get out of big suburban family homes they can no longer afford. Suffice it to say, we need all segments of the housing market pushing forward in order to get the full market back to health.

Homes sold in Rhinebeck real estate market in the month of November unfortunately reflect this story: Home Sales Split By Price.Home sales in the $0–100,000 range were up a hefty 24 percent from a year ago, part of that due to last year's depressed numbers following the expiration of the home buyer tax credit, but much of it due to the fact that one third of the market is now foreclosures and short sales, and that's generally the range for those properties. Sales were also up 13 percent in the $100–250,000 range, but after that the party quiets down considerably. Sales were up just over one percent in the $250–500,000 range, and down 9 percent above that.

It should be noted that of the 15 homes sold in Rhinebeck real estate market and Red Hook in the month of November only 1 home sold over $500,000. This Red Hook Home was listed for $2,850,000 and sold for $1,800,000,a 37% reduction.

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