In terms of house size, we expect the 4-bedroom market to remain the hottest segment after posting sales of 150 units (49% market share) in 2018 with an average sales price year-over-year gain of 10%, to $843,903. We believe the 5- and 6-bedroom segments will remain soft, with the exception of new construction and recent-year major upgrades where the value proposition is more appropriately aligned.
Looking at the various neighborhoods in 2018, Hawes & Willard had the most homes sold at 62 & 60, Ridge & Orchard had the highest average sales price, each at over $1.0 mn, Somerville had the most active market for 3 bedrooms at 19 homes sold and Travell had the best value for 4 bedrooms ($682,945). We expect these trends to broadly continue in 2019.
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Your choice of real estate professional to list your home and/or help you find a new one is absolutely critical to your financial well-being.
In 2018, my customized marketing strategies for home sellers and keen understanding of what buyers are looking for have resulted in the following successes;
- 21 transactions in Bergen County totaling $24.5 mn, including 18 in Ridgewood totaling $20.8 mn (rank #2)
- 9 Ridgewood listings totaling $9.8 mn (rank #3)
- 9 Ridgewood buyer's representations totaling $11.0 mn (rank #2).
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If you are thinking of buying or selling, please call me or text me to see how I can help you achieve a successful outcome - results matter, let me put my network and market intelligence to work for you as I have with so many other clients.