AREA MARKET REPORT FOR RIVERDALE BORO., NJ OCTOBER 2007
DATA COLLECTED FROM THE GARDEN STATE MULTIPLE LISTING SERVICE AND COMPILED BY GARY ROCKS,WERNER REALTY OF SUSSEX COUNTY. SERVING PASSAIC, MORRIS & SUSSEX COUNTIES.
During the month of October 2007 there were 5 newly reported properties listed inRiverdale Boro., NJ with an average asking price of $423,974.00.
Two properties went under contract with an average asking price of $432,450.00 and these properties were on the market for an average of 153 days.
Two properties were reported as Sold with an average asking price of $474,450.00 and actual Sold price average of 464,900.00 with 86 days on the market. This represent a 97.98% List to Sale price ratio one of the highest found in Morris County.
One property was withdrawn from the market with an asking price of $289,900.00 a one bedroom condo in the 55+ community, it had been on the market for 40 days.
Five properties expired from the market with an average asking price of $560,520.00 and they had been on the market for an average of 145 days.
Riverdale Boro., NJ is a small family town with low taxesas compared to many other towns it has many ratable with some small factories and industrial center and loads of shopping which off set the property taxes for home owners. Some first time homes are available and there is a 55+ communitywhich is very desirable because of all the shopping area's and its closeness to NYC. The school is up to the eighth grade and then to a regional high school.