January 2007 Market Statistics

By
Real Estate Agent with Terrie O'Connor Realtors

Despite my best attempt at publishing and truly understanding these numbers, I continue to get confused whenever I attempt to update these monthly numbers. 

 

I refer back to Kristal Krafts post on Absorption Rate here and calculate the following numbers prescribed but I am still baffled.  I “feel” the market improving but these numbers are telling a different story. 

 

                        # of Active # Under Contract            Absorption %               Weeks

Ridgewood                   101                  44                   31%                           37

  

Saddle River                 56                    10                  143%                          24        

 

Bergen County            3330                  848                   43%                          17

 

The median price of homes on the market in each of these areas:

Ridgewood                  $580,000

Saddle River             $1,899,000                                                                              

Bergen County             $470,000

 

If I don’t start to make sense of these numbers on a month-to-month basis sometime soon, I am going to stop this reporting.  It’s not due to lack of interest, I would just like these numbers to be a meaningful reflection on the market and I’m not getting that!         

 

Advice and/or insight would be welcome….so feel free to comment away!        

Comments (1)

Pat Fenn
Marketing Specialist for CJ Realty Group/Cindy Jones Broker - Springfield, VA
Going back to look at who is still around on AR that started in 2007.
Oct 18, 2012 04:30 AM