The information below is very important in analyzing how the market is developing in Bergen County over the months of November 2011-April 2012. It is not surprising to see the amount of units sold on the rise during the Spring time as people tend to start thinking about buying during March and April more than in late winter. I would expect that number to grow again in May as more homes continue to come on the market.
Obviously as Sold amounts grow so will Under Contract amounts. We have seen tremendous growth here since November despite a minimal drop from March to April. Homes are selling in the county and that will help sale prices as we move out of the housing slump into a housing recovery.
Seeing Days on the Market drop is a good sign for anyone looking to sell their home. Of course you need to find a competitive price to realize the benefit so be realistic and educated when pricing your home if you want it move quickly.
The fall in Median Price does not necessarily mean that home prices are dropping, it only means that the homes that are selling are in a lower bracket. ReMax agents across the country are predicting that home prices are on the rise and I would have to agree. The bottom has behind us and prices will be moving northward very soon so now is a great time to enter the market for a first home, an upgrade, or an investment.
If you are ready to enter the market please Contact Us today and we will help you to your dream property.