Here is a close look at how the local housing markets are performing in our area: It’s all facts, and no fiction or misrepresentation of the numbers
- Englewood Cliffs
Remember, real estate is local, so it really doesn’t matter what all the broad based reports are reporting. It only matter what is happening locally.
Tenafly is still the king of home sales in our region. Even though the sales figures are down across the board, the number of homes sold and the dollar volume for those home sales is still considerably more than all the other towns.
Tenafly is still considered the best place to buy a home, even if it costs more to live here compared to the other towns:
- Tenafly dollar sales volume is 4xs more than in Norwood and Haworth
- And it’s 1.5 – 2xs more than most of the other towns on the chart
- Tenafly has more hoes sales than in all the other towns
- Tenafly represents 23% of all homes sold in all of the towns combined on this chart
- Tenafly ranks #3 for the average sales price, but considering the the number of homes sold and the dollar volume, the ranking is closer because of the diversity of homes that have been sold
- In 2011 the dollar sales volume in Tenafly was 50% + higher than any other town on this chart
- And the average sales price in Tenafly was only beat out Englewood Cliffs…but EC had only 46 homes sold compared to 158 homes sold in Tenafly
In the next post, I’ll discuss a major misrepresentation of the housing market in Tenafly. One agent stared that sales in Tenafly had increased by double digits, when the facts show that Tenafly is in fact at -9% for the year to date. That’s about a 20 point mistake. That’s a big difference, and it’s misleading.. Catch the data in my next post…”keeping the facts honest“.
As always. this sit5e is about homes and up to date market information and how using these number can help sellers to batter market their homes to buyers. And we aim to help buyers, by providing them with information that will help them analyze their purchase decisions based on facts…not fiction. And that will help to avoid making a huge mistake.