Ringwood Real Estate Sales Statistics - May 2007
"Home sales are projected to move in a relatively narrow range with a gradual
upturn becoming more pronounced by the end of the year according to the latest
forecast by the National Association of Realtors. Overall housing levels are
historically strong, but sales remain sluggish compared to the recent boom."
Locally, the Ringwood and Wanaque real estate sales were sluggish in May,
but prices stabilized.
Eleven homes sold in Ringwood this May compared to 13 sales in May 2006
which is a 15 percent decrease. The average market time this May was 111 days
vs. 80 days last year.
Ringwood average sale prices increased in May by 12 percent compared to
May 2006, bringing the average sales price to $451,145. The May 2006 average
price was $436,808.
|
Ringwood |
Active |
Sold |
Median |
Average |
Average |
|
May 2007 |
97 |
11 |
$455,000 |
$451,145 |
111 |
|
May 2006 |
137 |
13 |
$370,000 |
$436,808 |
80 |
The Wanaque market, like Ringwood, showed an increase in prices in May. The
average sales price increased 1 percent to $346,483 compared to last May's
$342,506 price. The median sale price declined 9 percent, bringing it to $319,900.
The number of active listings in Wanaque decreased in May by 14 percent,
compared to May 2006. Sales also decreased by 33 percent. The average market
time decreased 5 percent...53 days vs 56 days a year ago.
|
Wanaque |
Active |
Sold |
Medain |
Average |
Average |
|
May 2007 |
101 |
6 |
$319,900 |
$346,483 |
53 |
|
May 2006 |
117 |
9 |
$350,000 |
$342,506 |
56 |
This is the perfect time to buy or sell a home in Ringwood or Wanaque. Buyers can
take advantage of more negotiable sellers in a slower market. But sellers are also
looking at rising prices again.
Are you thinkling of buying a home? Get a daily email list of new homes for sale as
they hit the market by visiting RingwoodHomeSearch.com. It is fast, easy and FREE!
Statistics are based on information from the Garden State MLS. They are deemed reliable, but not
guaranteed.
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