5 Ridgewood Homes Sold This Week and the Average Sale Price Was $948,500 - Who are these people?
The Old Story: First Time Home Buyers
Lately we have seen a pick-up in activity in lower priced homes with some homes getting 5 or more offers and selling for significantly over their asking price...remember 2004? The theory is that first-time home buyers are jumping in with both feet because of the first time home buyer credit and because they don't have homes to sell and thus they don't have to deal with the pain of taking a loss on the sale their existing homes as many trade-up and trade-down buyers do.
The New Story: Trade-Up Buyers
As mentioned above, the average sale price of a Ridgewood Home this week was $948,500. Additionally, the average list price of the 6 homes that went into Attorney Review this week was $961,833. Either we have some very wealthy first time home buyers or we are starting to see the return of the trade-up buyer. I know one week does not a trend make but these numbers are certainly encouraging - at least to me.
Ridgewood Real Estate Transactions for the Week
Summary
4 new listings.
6 homes marked as in "attorney review".
4 homes went under contract.
5 homes were sold.
| Street # |
Street Name |
Bedrooms |
Status Change |
Days on Market |
2008 Taxes |
Style |
Price* |
| 514 |
VAN DYKE |
4 |
New |
9 |
$13,317 |
COL |
$599,000 |
| 341 |
FRANKLIN |
4 |
New |
7 |
$11,046 |
COL |
$649,900 |
| 136 |
MONROE |
4 |
New |
4 |
$14,707 |
COL |
$1,097,000 |
| 402 |
HIGHLAND |
6 |
New |
5 |
$29,075 |
COL |
$1,495,000 |
| 474 |
GROVE |
3 |
Attorney Review |
62 |
$11,127 |
C/C |
$399,000 |
| 620 |
GLEN |
4 |
Attorney Review |
154 |
$9,070 |
C/C |
$450,000 |
| 435 |
GLEN |
5 |
Attorney Review |
75 |
$13,417 |
COL |
$799,000 |
| 14 |
MAYNARD |
5 |
Attorney Review |
83 |
$21,636 |
COL |
$1,295,000 |
| 350 |
HIGHLAND |
6 |
Attorney Review |
20 |
$27,451 |
COL |
$1,829,000 |
| 633 |
DORIS |
2 |
Under Contract |
35 |
$8,559 |
RANCH |
$449,900 |
| 431 |
FAIRFIELD |
3 |
Under Contract |
54 |
$9,188 |
COL |
$499,000 |
| 243 |
CIRCLE |
3 |
Under Contract |
57 |
$9,338 |
COL |
$579,000 |
| 333 |
JEFFERSON |
4 |
Under Contract |
62 |
$17,628 |
CONTP |
$1,099,000 |
| 615 |
SPRING |
3 |
Sold |
17 |
$11,204 |
COL |
$590,000 |
| 25 |
MCGUIRE |
4 |
Sold |
54 |
$17,102 |
COL |
$830,000 |
| 48 |
SHERWOOD |
4 |
Sold |
80 |
$16,798 |
COL |
$900,000 |
| 580 |
KNOLLWOOD |
5 |
Sold |
64 |
$21,339 |
COL |
$960,000 |
| 862 |
HILLCREST |
5 |
Sold |
7 |
$23,443 |
COL |
$1,462,500 |
* For homes marked Active, Attorney Review and Under Contract "Price" refers to the list price. For homes marked Sold, "Price" refers to the final sale price.
Why Choose Aloysius Donohue?
It's hard to answer this question myself without sounding like a complete blowhard so please click below to see what clients and local newspapers had to say.
Clients Are Saying...
Local Newspapers are Saying...
Click here to see some of my current listings.
The properties in this blog post were listed and sold by various participants of the NJMLS based on information from the New Jersey Multiple Listing Service, Inc. for the period of July 18th through July 24th 2009.
Click below to view original article:
Ridgewood Real Estate Update (July 18 - July 24) - The Trade-Up Buyer is Back
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