As incredible as it may seem, Tenafly homes are selling in greater numbers this year than they did in 2008. As of tonight, 125 Tenafly homes have closed so far this year. In 2008, 117 Tenafly homes sold so we’re 8 sales ahead of last year with more to come. Currently there are 23 Tenafly homes under contract so it’s reasonable to expect 132 Tenafly home sales in 2009. This would represent a stunning 13% increase at a time when most other towns in Bergen County are having fewer sales.
The New Jersey MLS data shows that Bergen County has experienced a 13% price depreciation this year; Tenafly homes have depreciated along with the County but at far less – only 6%. So here too, Tenafly homes have performed much better than Bergen County’s real estate market in general.
Take a look at this New Jersey MLS chart of Tenafly homes that sold in 2008 and so far in 2009. The picture it paints is simple – demand for Tenafly homes has increased substantially this year:
