The big news in Tenafly, is that the real estate market hit a major road block in September.
Better put, it hit a brick wall!
- Home sales decreased 7% in 2012
- Home sales year to year for September decreased a whopping 65%
- The sales volume for homes sold decreased 18%
For a town that has had the hottest market in the region for a long time, this is big news, and it couldn’t come at a worst time. Going into the end of year market the market tends to dip off, and this may create even fewer sales going forward.
Stay tuned for more data and analysis.
I can’t wait to see what happened in the neighboring towns. Care to guess?