Bergen County
Bergen County single-family homes fell back into a buyer’s market with an absorption rate of 8.3%, which was much higher than last month. The average number of days a home stayed on the market remained normal. The average sale price for single-family homes decreased slightly, which is normal for October. The monthly sales price increase/decrease, compared to the same time period last year, has been in the single digits for the past three months. The last time this happened was August of 2008. The number of days a condo/townhouse stayed on the market in Bergen County sharply increased resulting in the second highest month in many years. The number of condo/townhomes sold was up over 30% and the average sales price increase/decrease went back to negative double-digit figures. For the year, home prices in Bergen County are up about 7% for single-family homes and approximately 5% for condo/townhouses. Northern NJ Market Stat
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