Ridgefield Residential Housing Market October 2007
Real Estate Appraisal Washington
Ridgefield Residential Housing Market October 2007
This analysis is limited to existing residential housing on lot sizes from 4,000 square feet to 15,000 square feet. So, it does not include houses on acreage. It includes all ages of house, all sizes of house and the full price range. It does not include attached housing, house boats, or manufactured housing. The data source is the RMLS.
The statistics were as follows:
Houses in Ridgefield, Washington
| Time Frame | Days on Mkt. | Average Sales Price |
| Fall 2004 to Fall 2005 | 31 | $297,445 |
| Fall 2005 to Fall 2006 | 56 | $327,529 |
| Fall 2006 to Fall 2007 | 113 | $347,577 |
Prices have been steadily increasing while marketing times have also. Now let’s look at lots and land, all in the 4,000 to 15,000 square foot range.
Residential Lots in Ridgefield, Washington
| Time Frame | Days on Mkt. | Sale Price |
|---|---|---|
| Fall 2004 to Fall 2005 | 31 | $103,742 |
| Fall 2005 to Fall 2006 | 16 | $151,350 |
| Fall 2006 to Fall 2007 | 142 | $116,990 |
Now, let’s take a look at how many lots are listed in this same location and size range in mid October 2007. And the number is: 110. In the last 12 months there were 11 lots sold through the MLS in Ridgefield. So, there is an eleven (11) YEAR inventory at the current absorption rate. Yikes! (It should be noted that many lots created are built upon by the company that created the lots, and the lots are not offered separately on the market. That is why there can be more sales of new houses than there are sales of bare new lots. And, not all lots are listed through the MLS.)
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