River Vale Real Estate Sales

To study the data for River Vale New Jersey for sale from 2005 to Oct. 2008, it is astonishing to see that the average sales price is only off about 10% from the average high prices. Two comparisons were used, Residential/Condo closed sales data from Bergen County filings and Residential only, NJMLS all Broker sales data. The graphs demonstrate the comparisons of sales, average price and units sold. There may be a few commercial sales mixed in the county data, I removed many from the data to try to make it residential/condo property only.

With 30 years of doing technical market analysis for stocks and commodities, I have a feel for data slippage when using averages. I have estimated true high to current low to be about 14-16%. This is due to using yearly averages.

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Richard