Posted by & filed under For Sale or Rent, Selling.

63 Byrne St63 Byrne St in Hackensack is a beautiful home.  I just listed this house at an asking price of $479,00.  We had 49 buyers who came through the 2 weekend open houses I did.  We have come to agreement with 1 and all but 1 of them were over the asking price.

The reason I bring this home to your is attention is because it illustrates so clearly how the market is now.  I don’t believe it’s going to change this year.  While the Fed is raising rates and inflation is at 8%, commodities including homes are more in demand than ever.

63 Byrne St

63 Byrne St is a beautiful house as you can see by the pictures I have posted here.  The home tells you that it will sell at a premium no matter the market.  Why?  Because of its condition.  Fairmount District

This 3 bedroom colonial had 2 bedrooms on the 2nd floor and a 3rd in the very nicely finished attic.  Full baths were in the basement and on the 2nd floor.  Although most of the house inside wasn’t newly redone, it certainly appeared as if it was.  This is a perfect example of the value of excellent maintenance.  Take a look at the pictures, you’d think the kitchen was new.  Outside you’d think that the siding was new.  That’s not the case but look at what great caring maintenance does.

Hackensack Homes Are Always In Demand

Hackensack homes are always in demand.  The city has 2 commuting train stations plus express bus service to New York City.  It’s also on top of Route 4, Route 17 and an easy few minutes drive to Route 80 and the New Jersey Turnpike entrance.  Commuting to New York is a huge aspect of value in Bergen County; Hackensack is a commuter’s dream.

Hackensack Medical CenterBecause it’s centrally located and close to the Paramus Route 4 shopping malls, everything is within your reach.  Additionally, there’s the Hackensack Hospital Medical Center.  This is one of New Jersey’s major medical centers.  It even has its own medical college to train new doctors.

Tremendous investment is going on right now.  Large developments of new apartment buildings for both rent and sale as condominiums seem to be popping up wherever you look.  This is leading to a planned renaissance of the City and its long business district.  In addition, the County Court House is there surrounded by attorney office buildings.

The Market Today

All of this speaks value to home buyers.  As a result, this city has a vibrant housing market.  I’ve written in the past about the renowns Fairmount District.  No matter the real estate market, this exceptionally beautiful area is always in very high demand.  My family has a history here too.

Right now there are 14 Hackensack homes for sale but 6 of them have accepted offers beginning the Attorney Review process.  As a result, there are truly 8 homes available.  21 houses are under contract.  This is virtually an inverted 3 to 1 ratio since it should be 3 houses for sale for every 1 under contract.  Time on the market is less than 1 month.  Berge County Court

If your house is for sale now and you don’t have an accepted offer in less than 2 weeks, something’s wrong.  You’re either asking too much or your agent isn’t marketing it right.

So 63 Byrne St is valuable for you to know about.  That’s because when it closes, it will exceed the market simply due to how well the seller cared for it.  Equally important are the Hackensack real estate market dynamics.  Not only why Hackensack itself has value for home buyers but also because of the inventory inversion of today.

If you’d like to know about my next Hackensack listing, just call or text me at 201-741-8490.

 

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