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Silo Ridge sale revenues exceed assessed value by 69% in October

Silo Ridge sale revenues exceed assessed value by 69% in October

Located in the Troutbeck community, 25 Green Road — built in 1985 — has 2,812 square feet on 2.67 acres and was sold for $880,000 on Oct. 17, 2024.

Photo by Christine Bates

AMENIA — October was a busy month for Amenia with ten transfers; three in Silo Ridge and seven outside the club. Town of Amenia prices remain modest with a median sale price of $320,000. A comparison of property tax assessments versus sales prices in October is revealing while the courts, lawyers, town and owners continue to litigate the level of assessments in Silo Ridge. The total assessed value of all seven town properties transferred in October was $2.7 million, 14% over their combined assessed value. In contrast the sales total of only three properties transferred in Silo Ridge totaled $13.7 million — 69% over their assessed value. Resales are now happening in Silo Ridge with handsome returns over the previous price paid as noted below.

In early December there were 18 single family homes for sale in Amenia including seven over $1 million and six under $400,000.

Silo Ridge Transfers

307 Pheasant Run — 2 bedroom/2.5 bath townhouse sold in November 2020 for $2,208,800 and resold in October 2024 for $3.1 million.

24 Snowy Owl Court — 3 bedroom/3 full bath/2 half bath sold in March 2021 for $2.29 million and resold in October for $5.25 million.

413 Pheasant Run, Unit 2C — 4 bedroom/4.5 bath town house sold in October 2019 for $3,514,000 and resold in October 2024 for $5.3 million.

Town of Amenia Transfers

35 Lower Powder Road — 1.43 acre vacant lot sold privately for $105,000.

83 Cascade Road — 2 bedroom/1.5 bath saltbox home on .34 acres sold for $285,000.

81 Kent Road — 3 bedroom/1.5 bath home sold for $315,000.

50 Railroad Ave. — 2 bedroom/1.5 bath cottage sold for $320,000, the median price for single family home transfers in the month of October.

34 Cascade Road — 18 acres of land sold for $368,000.

42 Bog Hollow Road — 3 bedroom/2 bath home sold for $462,500.

25 Green Road — 3 bedroom/3 bath home on 2.67 acres sold for $880,000.

Christine Bates

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