November Real Estate Forecast: Rye Continues to Buck National Trends

Special promotional content provided by Meg Allen Rodriguez of Berkshire Hathaway HomeServices in Rye

By Meg Allen Rodriguez of Berkshire Hathaway HomeServices

Nationwide, pundits are calling for the demise of the real estate market. They say a slowing economy and higher interest rates are crushing the real estate market. In Rye, the numbers tell a vastly different story. The attributes that attracted you here–community, education, and location–continue to attract buyers. 

In October, the Rye City median sales price was up 64% over October ‘21 to $2,075,000. The median list price was up 61% to $2,077,500 October ‘22 vs. ‘21. A consistent feature that has distinguished the Rye City market is low inventory. This October there were just eight new listings among the 3,713 single family homes in the City. October ‘21 was also low inventory but there were 40% more at 13 Single Family Homes listed. 

Buyers are still in the Rye City market and are well versed in value. They are watching and waiting for the right home in their price range to come on the market. As realtors are fond of saying, “In Rye, there is always someone willing to take your place.”

Happy Thanksgiving!

Here are the nine Single Family Home sales for October 2022 in the City of Rye (shown from highest sale price to lowest):

• 3 Guion Road
  • Seller: 61 Grandview LLC
  • Buyer:Eric Schiele
  • Listed: $6,795,000
  • Sold: $6,450,000
  • Days on Market: 5
• 281 Kirby Lane
  • Seller: Alexander Smith
  • Buyer: Joseph & Valerie Brown
  • Listed: $4,399,500
  • Sold: $5,772,258
  • Days on Market: 4
• 183 Highland Road
  • Seller: Mandy & Seth Lax
  • Buyer: Michael Cottet & Elizabeth Burton
  • Listed: $2,950,000
  • Sold: $2,950,000
  • Days on Market: 34
• 1 Hillside Road
  • Seller: Michael & Patti Holmes
  • Buyer: Victoria Graham
  • Listed: $2,800,000
  • Sold: $2,550,000
  • Days on Market 49

• 70 Reymont Avenue
  • Seller: 70 Reymont
  • Buyer: Not Reported
  • Listed: $2,495,000
  • Sold: $2,495,000
  • Days on Market: 67
• 10 Overdale Road
  • Seller: Thomas & Caroline Nilsson
  • Buyer: Not Reported
  • Listed: $1,899,000
  • Sold: $1,875,000
  • Days on Market: 62
• 27 Crescent Avenue
  • Seller: David O’Sullivan
  • Buyer: Peter Bruton 
  • Listed: $1,660,000
  • Sold: $1,655,000
  • Days on Market: 27
• 5 Central Avenue
  • Seller: Michael Olguin
  • Buyer: Ernest & Candice Asp
  • Listed: $1,595,000
  • Sold: $1,600,000
  • Days on Market: 29
• 11 Oakland Beach Avenue
  • Seller: Douglas & Deirdre Macdonald
  • Buyer: Not Reported
  • Listed: $1,595,000
  • Sold: $1,595,000
  • Days on Market: 7
• 48 Adelaide Street
  • Seller: Brian & Deborah O’Gallagher
  • Buyer: Yu Kari & T Oka
  • Listed: $1,275,000
  • Sold:$1,225,000
  • Days on Market: 56
• 62 Cedar Place
  • Seller: Janet Yip
  • Buyer: 62 Cedar Place llc
  • Listed: $639,000
  • Sold: $587,500
  • Days on Market: 192