Northwest Bergen Rebounds - Shetler
Sep 12 - The last 30 days have been very busy in local real estate.
The number of homes under contract in northwest Bergen has risen 24% from the same period last year, and is up 13% from 2006.
These statistics are quite remarkable given the condition of the economy. One explanation is that buyers have been in "wait and see" mode for a long time and have decided that prices have come down enough to make buying attractive again. Another is that sellers have gotten the message and are willing to accept lower prices.
However you interpret it, it's a great beginning to the fall market.
Encouraging Market Signs - Shetler
Aug 23 - The real estate market in Bergen County has seen a modest improvement in August. The median sales price county-wide, down 5.5% in July, is down only 4.4% so far in August, measured against the same period last year. Sales activity, down 14.7% last month, is down only 5.5% so far this month.
September marks the beginning of the fall market, second only to the spring market as the busiest season of the year. An improving August is a sign that the fall market may mark a return to normalcy.
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