Ridgewood NJ Real Estate Market – Strong August Numbers
The Ridgewood real estate market showed improvement in 3 key benchmarks in August.
1. The average sale price of a Ridgewood Home increased by roughly 10% from July to August.
2. The number of homes sold in Ridgewood increased from 26 in July to 36 in August.
3. The average number of days it took a home to sell in Ridgewood decreased from a July average of 54 days to an August average of 48 days.
Obviously, one good month does not mean Ridgewood housing prices are about to head for the stratosphere again. However, the Ridgewood real estate market has held up very well compared to the rest of the nation and these strong August numbers could mean that we have hit bottom and prices are now on their way back up. Don’t forget that Ridgewood home prices actually increased in the 2nd quarter of 2008 when compared to 2007 Q2.
Only time will tell, but regardless what the next few months bring, I am a firm believer that Ridgewood real estate is a solid investment – and an even better place to live and raise a family.
To view the July Ridgewood Real Estate Market Reports click below:
Ridgewood July Home Sales Report – Total Homes Sold
Ridgewood Real Estate July Market Report – List Price vs Sale Price
For info on National Housing and Economic indicators click below:
If you would like more information on Ridgewood Real Estate please call me at 201.906.3287 or simply leave a comment here. I’d be very happy to provide a free home value analysis or provide advice on the types of remodeling projects that are most likely to increase the resale value of your home.
