Tenafly Housing Market Recovery Continues

Home purchases in Bergen County continue with the double digit gains year -on-year for the fifth consecutive month.    Tenafly in particular has demonstrated a more stellar demand than other towns during the recent years, other markets statewide and nationwide are also now showing distinct signs of recovery.

The NYTimes reported on June 27  After Years of False Hopes, Signs of a Turn in Housing, other sources such as The Otteau Group Report, that Bergen county has the lowest un sold inventory in the state with supply worth of only 6 months. The combined effect of drop in supply and increased demand may result in home prices increase during the remainder of the year.

As of the writing of this post  Tenafly has:

• 105 single family homes on the market
• 60 homes that sold 
• 53 homes that are Under Contract – waiting to close within the next few weeks.