Bergen County Real Estate Market Update – October 2023
Today, we’ll be diving into the latest real estate trends in beautiful Bergen County, New Jersey. So, whether you’re a buyer or a seller, this video is definitely for you!
Let’s jump right into it! As of October 2023, we currently have a 1.86 Months Supply of Inventory in Bergen County. Now, what does that mean for you? Well, it’s a strong indicator of a seller’s market, where demand outweighs the available supply. This means that if you’re a seller, you have a fantastic opportunity to attract multiple offers and potentially sell your property faster than ever before!
But hold on, folks! That’s not all. Over the last 12 months, we’ve seen a significant increase of 16.25% in the Months Supply of Inventory. Now, this might sound like a lot, but don’t worry, it’s actually a positive sign. This increase suggests a healthy market with more options for buyers to choose from. So, if you’re a buyer, now is the perfect time to explore the market and find your dream home in Bergen County!
The List to Sold Price percentage currently stands at an impressive 100.3%. What does this mean? Well, it shows that properties in Bergen County are selling very close to their list price, indicating a strong market with motivated buyers. So, sellers, get ready to make the most out of your investment!
Now, let’s focus on time. The median days on market in Bergen County is just 22 days! That’s right, folks, faster than you can say “sold!” This means that if you’re looking to sell your property, you have a great chance of finding a buyer quickly and efficiently. And buyers, don’t worry, with my expertise, we’ll make sure you don’t miss out on any opportunities in this fast-paced market!
No let’s talk money. The median sold price in Bergen County currently sits at a remarkable $655,000. Now, this figure represents the midpoint of all the home sales in the area. Whether you’re buying or selling, it’s essential to have a clear understanding of the market value of properties to make informed decisions. And that’s where I come in! As your trusted REALTOR®, I’ll guide you every step of the way to ensure you get the best deal possible.
