WoodridgeLake Real Estate Update
Fall 2008 began a difficult period of time for selling properties at Woodridge Lake. While sales slumped to a near record low from September 2008 through February 2009, the number of people looking on line actually increased. During this period only three residential properties closed at the Lake according to the CTMLS. The average list price to sale price averaged 92%, far better than most of the rest of the county. The average number of days on market increased to 184 days. There were no recorded Woodridge Lake lot sales during this period of 9/1/2008-2/28/2009. There were 5 residential sales with the high dollar amount for a single sale during that period of $825,000, a home listed and sold by PPG.
From February 1, 2009 until May 20, 2009, MLS records show that eight Woodridge Lake properties went under deposit. Fifty percent of those properties were listed and or sold by PPG. During the same time frame, two lots at the Lake went under deposit and both lots are listed by PPG.
As of May 20th, 2009, the MLS shows a current inventory of homes on the market of 55 homes for sale out of 680 homes built at the Lake. That is 12.36% of total home inventory at Woodridge and 50% above average.
For further statistical information on our Woodridge lake community, either e-mail me or call in to our office. Thanks for supporting our community!
Stephen M. Drezen
Portfolio Properties Group, LLP
Don't forget to stop by our office for your complimentary copy of Christies Great Estates Magazine! Please call us if you would like us to mail you a copy.
(figures from CTMLS as of 5/20/2009)