The decrease in average sales price from 2008 to 2009 in northwest Bergen County was 11%. But a closer look at how it breaks down is very telling. Homes with two or three bedrooms were down only 7% while homes with six or seven bedrooms were down 31%. However even the high end of the market has begun to show signs of improvement with sales activity up 36% during the period 12/1/2009-1/31/2010 over the same period a year earlier.Home Price Decline in Bergen County

 

- Michael Shetler

 

3 Comments on The bigger the home, the harder it fell.

FEB
04
2010
179,750 Points 2 Featured Posts Outside Blog

Michael,

Homes haven't fallen in price very much here but the higher end homes are not selling.  I expect sometime we will see the upper end fall significantly in Lexington.
2:59pm • #1
139,528 Points 2 Featured Posts

When it gets to that point where you are...they may appreciate the fastest but they also lose equity the fastest when it comes to the larger sq footages.  There is more money to lose, or more room to lose I guess.
3:09pm • #2
705,659 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Michael, interesting observations. Here in the greater Los Angeles, the Ultra Luxury homes take now more then 15 months to sell. I am referring to the $12million and up price points.
3:10pm • #3


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Michael Shetler

Glen Rock, NJ

More about me…

Keller Williams Village Square Realty

Address: 257 E Ridgewood Ave, Ridgewood, NJ, 07450

Office Phone: (201) 445-4300

Cell Phone: (201) 421-0506

Email Me

Observations and analytics on the real estate market in Bergen County, northern New Jersey. Special focus on Ridgewood and northwest Bergen. All facts and figures based on NJMLS. Info deemed reliable but not guaranteed.


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