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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