Tag Archives: sold homes

Analyzing Tenafly Homes Sales

Homes sold in Tenafly 2004-2011

This chart presents an interesting view of the 1165 homes that have been sold in Tenafly since 2004:

  • 80% 0f the homes sold were priced under $1 million
  • the largest block of home sold (62%) were priced between $500k- $1 million

It’s amazing to see how dramatically the sales decrease when homes are priced above    $1 million

  • Only 8% of the homes sold were priced between $1-1.5 million (for an almost 7 year stretch)…a 56% drop in sales compared to homes priced between $1-1.5 million

What can’t be lost in the numbers, is that for the homes that sold pre 2004-2006 (and appreciated), those homes will have a tougher time selling at their once appreciated values.  However, what’s been great to the Tenafly market,is that Tenafly is still overwhelmingly the got to town for today’s buyers.  And even though we’re still far behind the pre-crash sales volumes, Tenafly is faring much better than the surrounding towns, withe the number of homes sold.

Check back because there’s more to come

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Bergen County Home Sales See Momentary Uptick

There is no indication that the Bergen County housing market is by no means out of the woods.  Though the latest sales figures for comparing July 2011 home sales to July 2011 sales, increased by 11% the overall sales are still hovering near the post crash sales figures.

For the first time in 5 months the home sales in Bergen County were in the plus column.  Sales rose 11% compared to July 2011, but the numbers are still considerably off  to the number of homes sold in 2009:

  • The number of homes sold has decreased for 9 of the past 13 months
  • The number of homes sold in July 2010 decreased 25% from July 2009…549 vs 414
  • Sales from July 2010 to 2011 increased by 11% 414 vs 459
  • The number of home sales comparing July 2009 with 2011 decreased by 100 homes…a 16% decrease
  • The number of homes sold from June-July decreased by a concerning 79 homes …16%

Breaking a losing streak is always a good thing, but like in sports it’s never an indication of  the future.

In a future post I’ll post the sales figures for the always neglected multi-family housing market for Bergen County, which has declined for seven of the past eight years.  For 2011 the multi-family market has decreased 16% in the number of sales and decreased by 17% in the dollar volume