New Life For New Homes in Tenafly & Bergen County

New Home – 23 N Brae Ct Tenafly – $2,999,000

Reflecting a strong  rebound in new home sales across New Jersey, Bergen County and Tenafly in particular are enjoying a similar  surge in this key segment of the real estate market. This blog has already reported about  this re  – energized segment in Tenafly  last July.

To get a better sense of how new homes are selling in Tenafly and, what people are looking for these days in new construction let’s look at the numbers below.

• 8 New Homes sold this year  – 5 Sold between $1,200,000 to $1,300,000,  2 Sold between $2 – $3 Million , 1 Sold for over $3 Million
• 2 New Homes are Under Contract waiting to close  
• 9 New Homes are currently on the market  – 2 are priced $1,100,000 to $1,500,000,  7 are priced  between $2.595 Million to $3.75 Million

New Home – 19 Sisson Tenafly – $2,595,000

New Homes in town cater to the upper movers whether from within the area or, to newcomers migrating here from Manhattan. What is particularly of interest is the fact that the higher priced market ie over $2 Million is doing very well.

One of the factors that is “pushing” these buyers to purchase is a general sense of confidence in the economy coupled with increasing interest rates which translate to costlier financing costs especially in the higher priced new home category.

While new construction today may be somewhat smaller than 7 years ago, people are not cutting back on amenities. Buyers are paying special attention to special features in kitchens and bathrooms. With many new homes featuring open floor plans on the first floor, kitchens have become the spot where families and friend gather around.

As the economy will continue to improve and people feel confident about their finances, it is highly likely buyers will pursue the new home of their dreams.