Ridgewood Estates ~ Custom Homes on Acreage with Awesome Views ~ Market Report YTD 9/08

Ridgewood Estates currently has following (averaged) market trend data:

Low Closed at $275,000, Low Pending at $330,000 and low Active at $315,000.

Average Closed at $353,980, Average Pending at $330,000 and Average Active at $352,000.

Median Closed at $355,000, Median Pending at $330,000 and Median Active at $389,000.

High Closed at $425,000, High Pending at $330,000 and High Median at $389,000.

Closed average square footage is 1,873, pending 1,932 and Active is 2,180.

List Price per square foot is Closed 192.09, Pending 170.81, Active 161.17.

Average per square foot closed sold is 188.79.

Average DOM for closed was 138.

Average DOM for pending was 192.

Average DOM for active is 168.

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What this means for the current market is that homes that were priced in the $400,000 to $500,000 range are now priced at $250,000 to $500,000. That is a large spread in price. The opportunity is there but the need to do the numbers and a Comparable Market Analysis is critical. Not all sellers are understand the trending market and knowing market value becomes more critical than ever. Make sure that your Realtor is willing to work with you to show you and define for you what market value is in the area you intend to purchase in. We do have opportunity in this market!

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I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone. Visit our webistes to learn more about Redding and Shasta County real estate.