Park Ridge Bergen County New Jersey homes sales report, from 2003 to 2008. Although sales volume declines were high at 48.65%, median sales were off 15.09%. Park Ridge located in Northern Bergen County did not have the much vacant land for the wholesale speculation that went on in other areas of the country. Demand had slowed due to the financial crisis but prices are resistant to fall quickly. Unit sales were actually up in 2008 over 2007 modestly.
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I believe that sales will raise again in 2009 due to the availability of mortgages and government money and guarantees. The more moderate pricing and mortgage affordability are key factors to residential real estate home sales.
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