New Jersey and Bergen County Market Update

Market Overview As Of Nov 9-2013

This year has been spectacular for residential real estate in Bergen County and New jersey in general. Robust gains in sales and prices were felt in many markets. More homes sold in less time for closer to asking price.

   As can be seen on the chart above: 

•  1. Pending Sales are up 23% over the same period last year.   
• 2.Closed Sales are up 24 % over the same period last year. 
• 3. Average Sales Price is up 5.1% 
• 4. Days on The Market are 12.9% less than same period last year.

While consumers have felt  empowered by low prices and interest rates, sellers are starting to regain their footing. Seller confidence is crucial to refilled inventory bins – which are still relatively sparse

See the full report on www.njmls.com