Ridgewood median home price up 4.3% in 1st quarter
April 12, 2013
By Michael Shetler
According to a new report from the New Jersey MLS, the median home price was up 4.3% in the first quarter of 2013 compared with the same period last year. However the average sale price was down 6.5%. Sales activity was also down, by 19.0%.
County-wide, sales activity was up 6.6% while the median sale price was down 0.3%.
This spring there have been many homes sold in the first week on the market, with a high number of multiple offer situations. There is a shortage of inventory in the middle of market, which may be the reason sales activity is down in Ridgewood.