Watching the market action for real estate in Bergen County has been very interesting. Inventory at late March 2009 for residential sale in Bergen County was about 4160 Homes. As of now, late March 2010 it is 3601 active listings, about a 13.7 percent decrease. Pending sales for the same year over year 480 vs 392, about a 22.5% increase in 2010. Along with a clear change in psychology, this market is moving. If things are prices to sell they will get multiple bids. The high end is still challenged by the Jumbo mortgages requirements but they are selling when they hit a range also. People on the fence my find themselves left out after bidding on many properties far under the market. Many people are seaching for the deal of a lifetime. I think most of them are gone. Except for poorly marketed bank Reo's the market is finding it feet.
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Richard
REMAX Real Estate Associates-Richard Stabile- Realtor-Builder-Developer
201 573 8811 ext 331
Northern New Jersey's Number 1 new home seller !
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Data source NJMLS deemed reliable not guaranteed.
Richard by the sounds of the numbers it looks like you are the beginning stages of a recovery!
That's the kind of information all Buyers and Sellers can use Richard. I hope you have reached the bottom...
I hope you have a great week,
Paul
We are finding the same high end challenges in our market! I believe the market will keep adjusting to whatever the mortgage markets dictate!