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Pine Plains 12-month median home price hits $555,000

Pine Plains 12-month median home price hits $555,000

An example of the strengthening Pine Plains market is the sale of 7766 Main Street for $565,000 on July 10 after having been listed for under $300,000 for several years.

Photo by Christine Bates

PINE PLAINS — Transfers from June and July suggest the Pine Plains real estate market continues to strengthen.

Of the four sales of single-family homes, one sold for over $3 million while 16 acres of vacant farm land sold for $57,000 an acre. At the same time two homes sold for under $500,000.

The 12-month trailing median price of a single-family home in July reached a new high in July of $555,000 because of recent multi-million dollar sales, while the three-year median is $350,000 in July.

Active listings in mid-August include seven parcels of land and 18 houses with only three under $500,000 and five over $1 million.

June

54 Birch Drive — 4 bedroom/2 bath home on .68 acres sold for $250,00 to Andrea L. Bartolomeo.

2314-2816 Church St. — 2 bedroom/1 bath home with 2,736 square feet of commercial space sold for $450,000 to HTWP Properties LLC.

July

25 Winchell Trail — 5 bedroom/5 bath home on 12.8 acres sold for $7,400,000 to 25 Winchell Trail LLC.

Route 199 (#905040) — 16 acres of vacant farmland sold for $950,000 to 4071 Route 199 LLC.

7766 Main Street — 3 bedroom/2 bath house sold for $565,000 to Shannon Kane.

*Town of Pine Plains property transfers from June and July are sourced from Dutchess County Real Property Office monthly reports. Details on property from Dutchess Parcel Access. Actual parcel numbers indicated by (#___) are included for properties without specific street address. Market data from One Key MLS and inforsparks. Compiled by Christine Bates, Real Estate Advisor with William Pitt Sotheby’s International Realty, Licensed in Connecticut and New York.

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