Why The Future of Housing is Positive

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The future of housing is positive because of several fundamental reasons.  While the US economy is officially in a recession, this recession is very different. This Recession is Different How do you define a recession?  When you have 2 consecutive quarters of negative economic growth you’re in a recession. This one, however, is different. Begin with the fact that it’s man made.  There was no structural economic reason for this;…

Bergen County Real Estate Today April 27th

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Bergen County Real Estate Today Bergen County Real Estate today is still moving forward at a pretty good clip.  I’m writing this article at 4:20 pm today and here’s what we have: 1,820 are for sale 1,063 are under contract 225 are withdrawn from the market (over the past 30 days) It’s important to remember that a good number of homes for sale have accepted offers.  Because there is no…

Bergen County Market Update Mid April 2020

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To do a current Bergen County market update, I have to go back 30 days.  If you look at what I wrote about the market on March 25th,  you’ll see that we were holding our own.  The data from the New Jersey MLS was nearly identical comparing 2020 to 2019.  While this was true, I also saw storms on the horizon. Since then things have changed.  We began the lock…

How Is Real Estate in Bergen County?

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How’s Real Estate in Bergen County so far this year?  Let’s take a good look. Using NJMLS Data Correctly We are at the start of a new year.  As a result, it’s necessary to look at the market data from a different perspective.  This is because January and February closings originated last year with rare exception (30-45 day cash sales).  So what do you use? You use under contract figures. …

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…

Bergen County Real Estate – A First Quarter Report

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Bergen County real estate is important.  This is the largest county in New Jersey with 948,000+ people and we are one of the most affluent counties in the US.  What happens here influences everyone in the NYC metropolitan area.  The Bergen County housing market reflects the Tri-State economy and outlook.  So let’s take a look at our first quarter real estate market. Home Prices Are Moderately Higher Comparing the 1st…

Bergen County Real Estate -1st Quarter 2018

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Bergen County Real Estate – 1st Quarter 2018 We are through the 1st quarter of the year so it’s time to look at how Bergen County real estate is doing.  We are doing very well indeed.  Looking at Bergen County as a whole, there should be no surprise to see sales are down.  This is due to a lack of homes for sale and not demand.  This has been a…

The 2017 Bergen County Real Estate Market

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The 2017 Bergen County real estate market had a unique combination of factors – zero increase in sales from the year before with price appreciation. In fact, much of what you’ll find is a mirror image of 2016. Home sales are nearly identical – 6915 in 2017 and 6920 in 2016. I think you’ll agree that when you’re talking about nearly 7,000 units a difference of 5 is nothing. Statistics…

Bergen County Home Sales

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Now that we’re through May, it’s time to see how Bergen County home sales scored.  We’ll look at Bergen County homes in total and then go on to some individual towns.  All data is directly from the New Jersey MLS. Through May I can report the following comparing this year to 2015: Sales increased tremendously.  Up 24% from 3,211 to 3,970 – that’s 759 more homes sold in 2016 through…

1st Quarter Sales Are Up

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1st quarter sales are up compared to 2015 and by quite a good margin.  According to the New Jersey MLS data, 2016 sales are up an average of 21% over the number of sales we had last year.  In plain numbers we went from 1,740 in 2015 to 2,109 this year.  What’s even more impressive is that this increase was pretty even in all 3 months of the 1st quarter sales. Typically January…