This is the Bergen County Condo & Townhouse 3rd Quarter Comparison: 2009 & 2010. READ ALL THE WAY THROUGH, YOU'LL BE PLEASANTLY SURPRISED!
I'm Brian Morgenweck & this post will cover statistics from July 1 through September 30 of each year, respectively.
Let's take a look at 2009:
In last year's 3rd quarter, 1,562 Bergen County condos & townhouses were listed with brokers & entered in the New Jersey MLS. That's about 17 units listed per day throughout July, August & September. During this time, there were 788 price adjustments as well as 402 units that expired unsold. (The price adjusted units & expirations were part of the total amount of units listed at that time, not just the units listed in the 3rd quarter.) Sold units during this time frame equaled 389 county-wide.
The stats for 2010 are as follows:
We had 1,320 new Bergen County condo & townhouse listings in 2010's 3rd quarter, down 232 units from the 2009. We saw 874 price adjustments & 393 listings expire...pretty close to 2009 on both counts, actually. (Again, both of these stats are of the total amount of listings, not just those taken during the 3rd quarter.) We had 318 Bergen County condos & townhouses make it to the closing table and get sold during the time frame in 2010. The sold # is down 71 from 2009, but it is somewhat commensurate with the amount of listings taken as well.
The statistics I find more pertinent & interesting are the actual units sold, their listing versus selling prices & sales-to-listing-price ratios. THIS MAY SHOCK MANY OF YOU!
You'll notice that generally, 2010 sales were at a higher average selling price than 2009 at a higher % of the list price. The units that were bought for cash & not mortgaged were also at a higher average selling price & a higher ratio of sales price to list price.
Take a look...numbers don't lie.
If you'd like a breakdown like this for your area or particular complex in your town, just email me or call me directly at (201)546-0040. I'd be happy to explain my two-tiered marketing systems to help you net a higher price for your home.
For all active listings of Bergen County condos & townhouses, see PropertiesInBergenCounty.com
3rd Quarter 2009 Terms of Sale Statistics for Bergen County Condos & Townhouses:
| Terms of Sale | Total | % Total | Total List Dollars |
Average List Dollars |
Average Sold Dollars |
Sale Price/ List Price |
| CONV/FIXED | 150 | 39 | $ 63,873,273 | $ 425,822 | $ 382,094 | 89.73 |
| CONV/ARM | 99 | 25 | $ 41,478,047 | $ 418,970 | $ 382,008 | 91.18 |
| VA | ||||||
| FHA | 50 | 13 | $ 15,570,108 | $ 311,402 | $ 284,705 | 91.43 |
| CASH | 81 | 21 | $ 43,135,597 | $ 532,538 | $ 462,836 | 86.91 |
| OWNER/HOLD | ||||||
| BALLOON | 1 | 0 | $ 335,000 | $ 335,000 | $ 325,000 | 97.01 |
| EXCHANGE | ||||||
| ASSUME | ||||||
| OTHER | 8 | 2 | $ 3,304,700 | $ 413,088 | $ 371,750 | 89.99 |
--All data deemed reliable but not guaranteed. NJMLS 10/5/2010--
3rd Quarter 2010 Terms of Sale Statistics for Bergen County Condos & Townhouses:
| Terms of Sale | Total | % Total | Total List Dollars |
Average List Dollars |
Average Sold Dollars |
Sale Price/ List Price |
| CONV/FIXED | 125 | 39 | $ 56,722,611 | $ 453,781 | $ 415,629 | 91.59 |
| CONV/ARM | 60 | 19 | $ 28,263,986 | $ 471,066 | $ 430,947 | 91.48 |
| VA | ||||||
| FHA | 25 | 8 | $ 7,095,699 | $ 283,828 | $ 256,989 | 90.54 |
| CASH | 102 | 32 | $ 52,767,880 | $ 517,332 | $ 462,122 | 89.33 |
| OWNER/HOLD | ||||||
| BALLOON | ||||||
| EXCHANGE | ||||||
| ASSUME | ||||||
| OTHER | 6 | 2 | $ 3,056,989 | $ 509,498 | $ 470,519 |
92.35 |
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