Like every town in Bergen County, home sales in Cresskill have taken a beating over the past five years. Once known as an oasis for new home luxury sales in developments like Tammybrook and Tamcrest Estates, the luxury end of the market still can’t find it’s way out of the basement.
The reality is, even though home sales in Cresskill are down 11% in 2012, that’s really not all that bad considering there’s only a smattering of sales at the upper end of the market.
The dollar volume of sales are down a mere 6%…but the average sales price in Cresskill increased by 6%. And that’s not so bad considering that there have only been eigh homes sold in 2012 priced above $1 million.
- 6 home sales priced $1.0M – $2.0M
- 2 homes sold $3.0M – $4.0M
- 39 homes sold under $1.oM
…interestingly half of the homes sold below $1.oM were priced BELOW $400K
Over the next few posts, I’ll start comparing home sales from Tenafly, Cresskill, Closter, Haworth and Alpine…then we’ll get a clearer picture as to what’s really happening in the marketplace.
As usual, let us know what you think.