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Bergen County Market Stats – May 2015
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Home Prices in Bergen County, NJ for May 2015
Bergen County Home Prices
In May we saw the highest average sale price since August 2014 on home prices in Bergen County and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Bergen County but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graphs below, home sales on average are increasing as are the average sales price and median sales price, you’ll want to have an agent that does a thorough market analysis of the Bergen County home on which you are making an offer.
If you are interested in how much current inventory is on the market in Bergen County you can find that information by clicking on the link. Low inventory will suggest that homes are not sitting on the market for very long. Currently in this area of Bergen County, homes have a median time of 81 days on the market before they sell. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Homes that are priced to sell are selling much quicker than the average and many times for above asking price. Low inventory in Bergen County has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn’t expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Statistics provided by NJMLS are deemed reliable but not guaranteed.
Bergen County Real Estate Report Summary
The median sale price in May 2015 for single family homes in Bergen County is $467,000 which was an increase of $4,500 over April 2015.
The average sale price was $578,298 which rose about $19,000 from April 2015.
Find Homes for Sale in Bergen County, NJ
Visit my website to search for homes in Bergen County or to be notified when Bergen County homes come on the market.
To find out what you home is worth in the current market email me or call 201-446-8190.