The Bergen County Homes Blog

Dumont homes are always in demand; the Dumont real estate market is one of the most active in Bergen County.  Not only is there a lot of “in house” demand, Dumont also represents a lot of value for out of town home buyers too.

Even with a population of 16,590 people, Dumont is decidedly small town in it’s feeling with a strong community spririt and well attended town events that bring folks together.  Every fall Dumont Day is a huge happening from the morning through fireworks at night with thousands of people attending.  

In fact, many multi generational families live here.  Children come back as adults to purchase their home.  In selling homes in Dumont I’ve seen this many times over the years.

The real estate market for Dumont homes is strong for out of town buyers because houses here are moderately priced, schools are great, there’s express bus commuting to New York City and the business district has everything you need.

For both 2009 and 2010, the difference between asking and selling prices is 5% but homes are on the market fewer days in 2010 (68 to 74).  This is significant because new banking regulations in 2010  make mortgage processing take much longer.   This can only mean that homes are selling quicker this year. 

At the same time, the average sales price is down by 6% due to more sales under $250,000 (13 as opposed to 4 in 2009) and none above $500,000 where we had 4 last year.  Still demand is up shown by less time on the market and consistently strong for sale to under contract ratios plus we have close to 20 homes under contract a lot of which will close this year.

I expect the final 2010 figures to be better.  There is no doubt that we are past the bottom and are in full recovery mode.  2011 will be an even better year for Dumont homes.

Crunching numbers to analyze the real estate market has taught me a lot. Over the years, I’ve found that the relationship between the number of homes for sale and under contract is a great indicator of how the housing market is doing. When that ratio is 2:1, the housing market is strong.

Ok, I know, it’s 2009 and the sky is supposed to be falling but it sure isn’t in Dumont. Right now Dumont has 50 homes for sale and 31 under contract which is way better than 2:1. Plus the time it takes to sell a home has improved dramatically – 72 days for under contract and 93 days for the 25 sales we’ve had over the past 4 months. No matter how you look at it, Dumont homes are rocking! There are several reasons for this.

Dumont is affordable. Property sizes are not too big and not too small which results in a moderate sized house. Dumont typically has what most of us would call a normal sized yard with a normal sized house. This means Dumont real estate works for most of us.

Dumont's school district is very good with a lot of parent participation and a broad range of programs. The town has excellent community services as well. The Borough of Dumont's Official Website is worth a look – it has a lot of information and shows you the strong community spirit that’s here.

The business district is very active with a good mix of retail stores, services and offices. Major retailers have invested in Dumont such as a CVS drug store, Wachovia Bank and Stop N Shop supermarket.

NYC transportation is great – there are plenty of express buses at rush hour and you don’t have to make any changes. Just grab a seat and read the newspaper on the way to work.

Dumont has everything that most people want, is affordable for first time buyers, can handle the more affluent move up market and is a great place to live. No wonder the real estate market is doing well. This does not, however, mean that prices are going up. They aren’t but they’re not sliding down either. If you’re thinking of making a move into Dumont, as a home buyer you’d be smart to do it sooner than later. Things here have turned positive.