A five year analysis of sales in Woodcliff Lake, Bergen County New Jersey, shows real estate sales prices to be down on yearly average of 15.77%. Median sales prices from the high year has declined 15.67%.
Northern Bergen County New Jersey, had experienced large increases in real estate prices thru 2006. However, It did not get the same kind of speculation as other areas of the country. Many home buyers in Northern Bergen are second and third time buyers. Many of the purchases had substantial down payments. This differentiated the quantity of the listings that have come to market to be substantiallyless then many other areas of the county. Some towns, such as Woodcliff lake, have very little developable property. This lessened the speculation and over building.
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