A few weeks ago I saw something on the web (can’t remember where) stating that Bergen County home sales increased by 11% com pared to 2010. Something didn’t sound right, so I searched the njmls data base…and guess what?
They were wrong
So let’s set the record straight
- single family home sales for all of Bergen County decreased by 2%…87 homes.
- the same 2% decrease hold true for the dollar volume for sales
- sales of multi-family units (inc. condos, town homes and 2 family homes) decrease by 8% in 2011…158 units
- and the dollar volume decrease by 11%
County wide, home sales have been anemic and level since the bubble burst in 2008. However, though most people use 2008 as the benchmark for the crash, the market in Bergen County really crashed in 2006 (see blue chart).
What buyers, sellers and Realtors need to concentrate on, is what the dynamics are within each town, because some are doing great like Tenafly, while some are still performing horribly. And don’t just look at the market as a whole in each town…but check out all the particular price points as I do on this site .Only then will you have a complete and thorough understanding of the market.
If there’s specific information that you’re looking for, for any town, you can email me or comment on a blog post and I’ll help you find it.
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