November 2009 Report | Wyckoff NJ Real Estate (statitstics comprised from NewJerseyMLS and based on Single Family Homes)
Welcome to our monthly housing report update for Wyckoff, NJ. Wyckoff remains one of the more active markets in Bergen County in regards to absorption rate (explained below). With the recent extension of the First Time Homebuyer Tax Credit we may see sales increase due to the increase in income level criteria.
Year over Year Sales numbers have been rather consistent with last years and we did not see a drastic drop in home values for Wyckoff from the year before. Year to date, there were 120 homes that sold in Wyckoff in 2008 (Jan-Oct) with an average sales price of $765,609. In 2009 (Jan-Oct), 109 homes have sold with an average sales price of $756,082, only a 1.3% drop in sale price since last year. We feel that if you are looking for a home in Wyckoff, it is a great time to begin your search and allowing New Jersey Real Estate Guys to do what we are great at in negotiating great deals.
There are currently 82 homes for sale in Wyckoff, NJ. The average listing price is $899,023. The average number of Days on Market for each listing is 113 Days.
During the month of October, 2009, 9 homes sold in Wyckoff. The average listing price of homes sold was $879,756, and the average Sales price of homes was $839,556. Sellers are getting an average of 95% of their asking price, which means that buyers and sellers can have a meeting of the minds without a disconnection (in my opinion). The average Days on Market for homes sold in Wyckoff was 82 Days.
Absorption Rate: An absorption rate indicates the number of months it takes to sell the current inventory at the present rate of sales. As of November 1, 2009, there were 82 homes for sale in Wyckoff as indicated above. Also as mentioned above is that 9 homes sold during the month of October. The absorption rate for Wyckoff based on October's sales figures is just over 9 months.
With the amount of inventory on the market in Wyckoff and the recent traffic activity, we feel it is a great time to start shopping for homes in Wyckoff and allowing New Jersey Real Estate Guys negotiate the lowest, most feasible price for you. That is what we are good at.
If you are interested in buying or selling a home in Wyckoff, give us a call and interview us. We would value an opportunity to earn your business and rest assured that as a buyer we will maximize your dollar on real estate. As a seller, you have our full service of global and local marketing, Free CMA report for your home, and strategic plans to sell your home within a comfortable timeline. Contact NJREG today for a free consultation!
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