The Bergen County Homes Blog

August 3, 2010

News Flash – Bergen County Pending Figures Are Good

Posted in: Bergen County Real Estate by Bergen County Real Estate Agent @ 1:00 pm

The real estate market in Bergen County outperformed the national market.  According to the report released this morning by the National Association of Realtors (and which is making headlines throughout the news media), June pending contracts are down by 2.6% from where they were in May.  This is not true for Bergen County.

New Jersey MLS data shows that we had 844 homes going under contract in May and 848 in June.  Where you will see declines are in July and August but this is typical of what happens every summer.  The real estate market is still geared towards the school schedule.  If parents don’t register their children by mid August, their children will miss the first day of school in September.  As a result, parents can’t wait until July to find a home - it’s just too late.  For example, if you bought a home in Tenafly, you would need a minimum of 2 weeks to get your child registered today and 3 weeks is preferred.

Last year July had 139 fewer pendings but this year July is down by 101 so here too we’re doing better.  The bottom line is that real estate is always extremely local.  Despite today’s report from the NAR, the truth is that we’re doing all right.

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Barbara Weismann, Broker Associate
ABR, CRS, GRI, SRES
Weichert Realtors
13 W Railroad Ave
Tenafly, NJ 07670
201-569-7888 Office
201-741-8490 Direct
 
 
 

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