Bergen County Real Estate is Soaring

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It’s May 15th at 10 pm and I just took a look at the New Jersey MLS figures.  What I found is that Bergen County real estate is soaring. Bergen County Real Estate Right now there are 2,993 single family homes for sale and 1,531 under contract in the entire NJMLS.  That’s an astounding 2 to 1 ratio.  Let’s do the absorption rate for this. Divide 2,993 active listings by…

The Absorption Rate and 1004MC Appraisal Report

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When people decide to buy a home they naturally start to look at the real estate market, do some number crunching and find statistics which explain the market trends. Lately, a statistic on homes that’s been quite popular is the absorption rate. Absorption rates simply put tell you how long it will take to sell off the existing inventory of homes. This shows you how properties are selling; it’s measured…