Ridgefield Market Report September 2018
September 2018 was pretty much on par with 2017. The number of closed sales was up slightly with 24 sales as compared to 20 in September 2017. The median sales price was down 1.3% for the month but equal to 2017 year to date. An equal number of properties also went under deposit this year compared to last, but was still down on the year. Inventory is also still low, as is the number of new properties entering the market.
To see an overview of how September looked, you can click for a snapshot of the market.
MEDIAN SALES PRICE and CLOSED SALES
The number of closed sales was u[ slightly compared to the same time last year with 24 properties selling in September 2018 as compared to 20 in 2017. In YTD sales we are down 1.5% vs 2017 with 262 properties selling as compared to 296. The Median Sales Price decreased to $592,500 compared with $600,000 in May 2017, while the YTD median sales price was equal to the same time last year.
PROPERTIES UNDER CONTRACT
The number of properties that opened escrow was on par with the same time last year with 26 properties going under deposit in September as compared to 27 last year. In regard to the year-to-date deposits, there are 267 as compared to 289 by this time last year.
DAYS ON MARKET and INVENTORY
The months of inventory i the same as last year at 12.2 months this year as compared to 12.3 last year. The number of new properties entering the market is still cause for concern with a 15% decrease compared to September 2017. The average days on market increased by 39% over September 2017 with homes spending an average 161 days instead of 116 on the market before selling. Year to date, the average days on market time is sitting at 130 days, as compared to 171 days last year.
Click here to see a price breakdown of the Ridgefield Real Estate Market.
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