Enouraging Signs Aboud for Ridgewood Real Estate
Only 3 new listings hit the market this week in Ridgewood.
Contrast this with the other activity this week:
- 9 homes went into Attorney Review (one of which was a home of the week in a recent post)
- 8 homes went Under Contract
- 7 homes were sold
Seven Ridgewood homes are no longer on the market because they were sold and agreements were reached on another 17 Ridgewood properties. I think we are starting to move from a buyers market to a balanced market.
9 Ridgewood Homes had Price Reductions This Week
| Street Number | Street Name | Street Mode | Current Price | BR | Status |
| 243 | VAN EMBURGH | AVE | $377,000 | 2 | A |
| 615 | KENWOOD | RD | $799,900 | 5 | A |
| 489 | COLONIAL | RD | $839,900 | 6 | A |
| 239 | CLAREMONT | RD | $875,000 | 4 | A |
| 234 | GARDNER | RD | $899,000 | 3 | A |
| 581 | UPPER | BLVD | $959,000 | 3 | A |
| 560 | KNOLLWOOD | RD | $999,000 | 4 | A * |
| 146 | PHELPS | RD | $1,899,950 | 6 | A |
| 514 | VAN DYKE | ST | $599,000 | 4 | W U |
Ridgewood Home of the Week
This impeccably maintained home features detailing that will excite even the most discriminating buyer. The architectural interest begins with the brick walkway flanked by lantern-topped columns and continues throughout the home with intricate crown molding, chair-rails, wainscoting and oversized windows that drench the home in sunlight. The home features a high-end gourmet kitchen by Ulrich with separate dining area, formal dining room, large living room with handsome fireplace, cozy family room, screened side-porch and a master suite with updated master bath. It may be hard to imagine that the custom gourmet kitchen is not the centerpiece of this property but that distinction goes to the beautiful, private yard which features an elevated deck, paver patio, recreation area and magnificent sparkling blue pool. You’ll also love the home’s handsome brick exterior, gleaming hardwood floors, finished basement and central location convenient to downtown, schools and NYC transportation.
About Al Donohue
Aloysius Donohue is Ridgewood Resident with two young children in the Ridgewood School System, an award winning REALTOR® and a Certified Luxury Home Marketing Specialist with a focus on Ridgewood real estate. For more information on Ridgewood real estate you can contact Aloysius Donohue at 201.906.3287 or aldonohue@marrongildea.com.
Click here for more information about Ridgewood NJ
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 11th through July 17th 2009.
Al:
It looking better and better for many ranges in the market. There is still a lot of compression in the high end. This is structural and needs a lot of work to get it back to normal. Lets hope for some more good numbers.
Richard
Richard – Thanks for your note. You are exactly right. We are seeing bidding wars on the starter homes and fairly good traffic in the mid-range but it continues to be somewhat slow going for the $1 million plus homes. Hope all is well. It is great to get your input.
Aren’t you kind of double counting there? A house “leaves the market” when it either goes under contract, hits review or closes? Sounds like each house would “leave the market” three times….?
Slurk – Good point. It would be triple counting the way I worded it which was not my intention. I deleted that sentence. However, regardless of which metric you use versus the new listings more homes are leaving the market than being listed. In this week the difference is at least 2:1 regardless of which number you use and if you use homes going into Attorney Review it is 3:1.
Thanks for catching that mistake.
-Al
No worries I just wanted to make sure I wasn’t misinterpreting. Thanks for the info anyways. I enjoy your blog and find it to be very informative.