| Waldwick, NJ – (June 1, 2021) The busy spring market continues to see many multiple offer situations driving sales prices above the asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase. |
| April was another very strong month for sales. The total market overview shows new listings take a big increase to 1,549 in comparison to 493 during the same month last year. Pending sales have also increased dramatically – a +212.0% chance in comparison to April of 2020. Closed sales increased by 65.9%. The sales price has also increased; last year the average price was $544,556 – fast forward to April 2021 and the average sale price is at $637,055, which is a 13.2% increase in one year. |
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| While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
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Data as of May 20, 2021. All data from New Jersey MLS and Hudson County MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2021 ShowingTime. |
News
Monthly Market Indicators for April in Bergen County
Published Tuesday, June 1, 2021 9:00 am
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Greater Bergen REALTORS® provides invaluable information, programs, and services to ensure the success of its members in everyday business. As the leading voice of real estate in North Jersey, we advocate for the public to protect private property rights as well as the right to homeownership. The Association is a highly influential and important member of the local, state and National REALTOR® family. Greater Bergen REALTORS® represents over 8,000 in northern New Jersey. For more information, please visit www.GreaterBergenRealtors.com. ### |