Ridgewood’s Median Sale Price Rose 8.7 Percent in the Last Quarter
The New York Times recently ran an article entitled “In Market Reports, Some Affluent Towns Do Better Than Others”. The basic gist of the article is that towns that are convenient to Manhattan and have a local train station will fare better than some of the other affluent towns. Obviously this bodes well for Ridgewood Real Estate and the numbers seem to bear this out.
Excerpt from New York Times Article
In the Bergen County village of Ridgewood, for instance, the median sales price (at which half the homes sold for more and half for less) rose 8.7 percent in the last quarter, versus the same period in 2009. The median price was $700,000, according to the latest statistics from Otteau. In 2009 it was $644,000.
A typical well-maintained colonial at 42 Ethelbert Place in Ridgewood sold in November for $710,000. That was well below the original asking price of $839,000 in May, but above the real estate Web site Zillow’s October estimate of its market value: $626,000. The house last sold in 2002, for $545,000.
The Zillow estimate for a Tudor mansion at 224 Crest Road was $3.5 million in early 2010, and rose to $3.85 million by December, when it sold for $4.11 million…
Click here to read the full article.
Related articles
- Ridgewood Board of Education announces salary freeze for teachers, secretaries in preliminary budget (nj.com)
- Homes of the Super-Rich, and Their Prices in Real Money (dailyfinance.com)
