Ridgewood NJ December Market Statistics

By
Real Estate Agent with Terrie O'Connor Realtors

The Ridgewood News reported that “Overpricing (is) no longer norm in Bergen County”  The market continues its return to a more normal state, pricing seems to be more in line with what the market is supporting.  Price reductions are on the decline and homes currently on the market are priced more realistically. 

 

The December numbers for my market areas are noted below.  As in every market, well-priced homes continue to sell and with the Spring market just around the corner, activity is expected to be brisk. Good news for sellers and buyers and Realtors!

                        # of Active # Under Contract            Absorption %               Weeks

Ridgewood                   86                  44                   51%                            24.5

 

Midland Park                 33                   8                   24%                             20

 

Saddle River                 57                     6                 11%                             91

 

Bergen County            3349                  846                25%                             33

 

The median price of homes in each of these areas:

Ridgewood                  $519,000

Midland Park                $402,000

Saddle River              $1,400,000                                                                               

Bergen County             $441,000

 

 

The NAR Guides to Home Buying and Home Selling

Is a good place to start if you’re thinking about buying or selling in this changing market.  Go to http://www.realtor.org/prodser.nsf/pages/hbspages?OpenDocument for more information on this useful resource.   

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