Greens Farms Update
March 2008
Well, it is hard to tell if 2008 has started! After three full months there have been only 3 homes sold. This is 70% below the prior year. Prices are off significantly too. Based on just three sales I wouldn't read too much into the price trends, there are just not enough sales. However, that is the real point. No one is buying. Greens Farms had a phenomenal year in 2007. What makes 2008 different? We will just have to wait and see which issue is becomes the real driver - the mortgage crisis, the election, layoffs in the NYC Financial sector, the war in Iraq or something else we haven't thought of yet?
Like a good page turner, this year in Westport Real Estate is going to keep us on the edge of our seat!
Greens Farms Update | |||||
Year to Date Sales of Single Family Homes | |||||
As of March 31 | |||||
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| 2008 | 2007 | 08 vs 07 | 2006 | 08 vs 06 |
Closes | 3 | 10 | -70% | 12 | -75% |
Median Price | $749,000 | $1,610,000 | -53% | $1,585,000 | -53% |
Avg Selling Price | $1,149,667 | $1,621,500 | -29% | $1,706,750 | -33% |
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Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate | |||||
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