The Luxury Market in Bergen County

Bergen County High End Market Is Struggling

While the nearby Manhattan high end market is booming and multiple offers are commonplace, New Jersey’s Bergen County’s High End market is active but still not at the levels seen during the height of the market in 2005-2007 .

• As of the date of this post  26 properties  sold for over $3 Million in Bergen County, while there are 96 properties offered for sale.
• Of the 26 sold 13 were sold between $3 and 3.5 Million . 
• 51 for sale  properties are in the $3 to $4 Million Dollar Range
• 29 for sale properties are priced at $5 Million and higher.
• In 2005 ,2006 and 2007 – 50, 56 and 44 properties sold for over $3 Million respectively!
• The Lion’s share of the inventory is concentrated in the following towns :
  • Alpine – 25 For  Sale  vs 5 Solds
  • Saddle River 20 For Sale vs 7 Solds
  • Franklin Lake 10 For sale vs 2 Solds
  • Tenafly 8 For Sale vs 4 Solds
  • Cresskill 8 For Sale vs 1 Sold
  • Demarest 6 For Sale vs None Sold
  • Englewood 6 For Sale vs 2 Solds