Indicators for the Glen Rock Real Estate Spring Market

There are currently 21 single family homes on the market. Five of them have already accepted an offer and are not yet under contract. There is only one townhouse on the market, and it has an accepted offer.

2. Average List Price in Glen Rock
The average list price for a single family home over the last 6 months was $646,656.

3. Average Sale Price in Glen Rock
The average sold price for a single family home over the last 6 months was $629,249. The median sold price was $615,500.

4. List Price vs. Sales Price Ratio in Glen Rock
The list price to sales price ratio for a single family home over the last six months was 99.0%.

5. Average Days on the Market in Glen Rock
The average number of days on market over the last six months was 45.91.

6. Number of Sales YTD in Glen Rock
The number of single family homes that have closed since January 1, 2015 is 5.

7. Number of Expired Listings in Glen Rock
32 single family homes have expired in the last six months.

8. Overall Appreciation/Depreciation in Glen Rock
The median sold price of a single family home was up 4% in 2014.

9. Number of Months of Supply (Absorption) in Glen Rock
There is a 1.8 month supply of homes on the market. 4-6 months is considered a balanced market. The low number indicates prices are expected to rise.

10. Current Interest Rate in NJ
The average interest rate for a 30-year fixed rate mortgage in NJ is 3.90%, according to Mortgage News Daily.

Interested in buying, selling or renting in Glen Rock, NJ? Call Glen Rock real estate agent and resident Michael Shetler, 201.421.0506 cell or 201.445.4300 x231 office.

source: New Jersey MLS (NJMLS) and Mortgage News Daily. Info deemed reliable but not guaranteed. Data as of January 17, 2015.

The post 10 Vital Statistics for the Glen Rock Real Estate Spring Market appeared first on Michael Shetler's Buying In Bergen.

Download the complete report — Market Update November 2013

The post Monthly Report for November 2013 appeared first on Michael Shetler's Buying In Bergen.

Year to date, the number of homes sold in Bergen County is up 18% over last year. The number of days it took to sell is down 14% to 82 days. And the average sold price is up 5%, according to data from the New Jersey MLS.

The recovery from the recession is well underway, especially for areas in northwest Bergen County. In the 13 towns from Glen Rock to Mahwah to Oakland, average sold prices are up 9%. The number of homes sold was up less dramatically at +13% because the inventory of homes on the market is in short supply.

In fact, Glen Rock may finish the year with the lowest inventory in the state, measured in months of supply. With the spring market expected to start in mid-January, buyers are likely to find themselves aggressively competing for homes.

With interest rates expected to rise through 2014, buyers will be weighing the cost of paying more for a home in a bidding war against paying their lender more in interest for the next 30 years.

For more information about the changing market in Bergen County, call Michael Shetler at 201-421-0506.

The post 18% Increase In Bergen Home Sales appeared first on Michael Shetler's Buying In Bergen.