Contact Us

Meet Team Eisenberg

Anat Eisenberg

Anat & Eran are the driving force behind Team Eisenberg - one of the most prolific teams in New Jersey real estate history.

Over the years, Team Eisenberg has sold over 600 properties with a worth of over half a Billion dollars. In Tenafly, where the Eisenbergs reside and raised their 3 children, they have sold close to $300 Million Dollars.

Eran and Anat have compiled some amazing sales statistics and an incredible amount of awards and accolades yet when you speak with them you realize that, for them, it is not about the numbers or the awards. They are still passionate about real estate and it shows every day…

Main Content

Tenafly Million-Dollar Market & Up Is On The Rise…But Are Prices Really Up?

Million Dollar

One Million Dollars

When comparing the average sold prices for the period ending August 31 to the same period last year, the average sold price show a 20% increase!

But did Tenafly home prices really go up 20% ?

This blog does not think so.

When analyzing the breakdown of sales  by price range what we find is that while the total numbers of homes sold is the same  (111 units in 2012 vs 112 in 2013) the shift in sales towards sales of  higher priced homes is up by 50%!

Take a look at these numbers;

  • In 2012 only 36 homes sold for $900,000 or higher….in 2013 this number increased 50% to sales of 54 homes!
  • In 2012 75 homes sold for $900,000 or less….in 2013 this number decreased 23% to sales of 58 homes!

This shift in average sold prices is thus explained by the fact that many more expensive homes sell this year than  last and the question to be asked is why?

We think that the rising interest rates are pushing the higher market along. The effect of higher interest rates over the life of the loan is  much more pronounced in higher prices. This is making those buyers who are usually upgrading, take a stand and make commitments.  The lower priced buyers in Tenafly are usually first time home buyers who took advantage of the lower rates last year.

Sales by Price Range 1.1.12-8.31.12

Sales by Price Range 1.1.12-8.31.12

Sales by Price Range 1.1.13 - 8.31.13

Sales by Price Range 1.1.13 – 8.31.13