Bergen County Real Estate Market Update March 25th

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Here is the Bergen County Real Estate Market Update as of March 25th.  I’ll begin with the basics below. Next is how things changed in early  March, data from the New Jersey MLS, what it tells us and how Weichert and I have approached things for decades.     Basic Market Behavior Currently People are listing homes People are buying homes Rentals are moving at a good clip Drive By…

Bergen County First Quarter House Sales

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Now that we’re through the first quarter of the year, we can take a quick look to see how the real estate market is performing.  Here is what I’ve seen – homes are selling quicker for slightly higher prices than in 2013.  This is impressive because 2013 was a great year for house sales. Using the New Jersey MLS statistical reports comparing 2013 to 2014 through March, here’s what we have…

Bergen County Real Estate Has Stabilized

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Bergen County real estate has stabilized.  This was my projection last year and I am very happy to say that I was right on target.  What I’d said and written was that by the end of 2009 the market would stabilize.  It has done exactly that. Our housing market is improving.  New Jersey MLS data, bank appraisers and housing reports all say the same thing:  We have clearly bottomed out and…

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…

Bergen County Real Estate – How’s the 1st quarter looking?

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The figures are in and the real estate market in Bergen County is doing OK.  It’s still a buyer’s market for homes but you can see some signs of improvement with Bergen County real estate. In January I had written that the real estate market in Bergen County would shift during the 4th quarter of 2009 and stabilize.  From then on for a few years we would be working in…