Tales of a Seasoned Broker

With only 2 days left in the month of September, clear signs of a market shift are emerging. With respect to  Bergen County we are witnessing the lowest number of homes sold in over 6 months, the lowest number of homes going under contract in over 6 months and although by a smaller margin than the two previous statistics, sale prices have dropped to the lowest numbers we have seen in over 6 months as well. Our immediate area (Teaneck, Bergenfield and New Milford) is experiencing a similar trend for both homes sold as well as average sale prices. However, the real statistic looming over our local market is the almost 50% drop in the number of homes going under contract compared to the prior 6 months.

Nechama Polak is the Broker of Record and owner of V and N Group LLC located at 1401 Palisade Ave in Teaneck. nechamapolak@gmail.com 201 826 8809.