The Concord-2 above
was the only closing in June and July. The last Concord-2 that sold
was 204A for $290,000 back in March of 2008.
Last year for the same time period there were 4 closings, 2 under
agreement and one offer pending. There have been 5 closings since
January this year as opposed to 7 for the same time period last
year.
The North Central Mass Association of Realtors (NCMAR) has reported
a 30% decrease in the median sale price in the area since Jan 2007
and a 35% drop in the number of closed sales since then. The good
news is: Ridgefield has experienced only a 16% drop in sales price
based on price per square foot since 2007. However, we have
experienced 50% drop in the number of sales. Our greater than market
area drop in the number of sales is because most of our buyers have
homes they must sell first. (A double sales wammy.)
Hopefully, with the debt-ceiling crisis behind us, we won’t have to
worry about a spike in interest rates immediately, which could have
further hurt sales. We are hoping to see more activity in August as
folks start looking for homes to move into for Fall.
Please remember, we are a full service Realtors, so if you are
looking to buy or sell something outside of Ridgefield, if you are
relocating, or know someone who needs to buy or sell a property,
we’d love to work with you!
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