Finding a Home in Today’s New Jersey Real Estate Market

You may have noticed some news headlines flying indicating that we are in a seller’s real estate market in New Jersey and around the country. In some cases — or rather, some places — we are. But there’s good news for many people searching for homes in Bergen County! NJ Advance Media compiled data from nearly 500 New Jersey zip codes and created a tool that gives users a snapshot of real estate listings data by county and zip code, so you can concentrate specifically on your geographic area(s) of interest. Here’s some even better news: we did the leg work for you. From the data available, which uses February 2017 as a sample, here are the Bergen County areas deemed buyer’s markets.*

Fort Lee area: In zip code 07024, there were 323 active listings and the median list price was $329,000.

Garfield area: In zip code 07026, there were 36 active listings and the median list price was $285,000.

Kearny area: In zip code 07032, there were 81 active listings and the median list price was $268,300.

East Rutherford area: In zip code 07073, there were 10 active listings and the median list price was $320,000.

Franklin Lakes area: In zip code 07417, there were 138 active listings and the median list price was $1,274,500.

Ho-Ho-Kus area: In zip code 07423, there were 19 active listings and the median list price was $1,036,000.

Leonia area: In zip code 07605, there were 31 active listings and the median list price was $479,500.

Demarest area: In zip code 07627, there were 37 active listings and the median list price was $1,274,700.

Lodi area: In zip code 07644, there were 39 active listings and the median list price was $291,000.

Woodcliff Lake area: In zip code 07677, there were 30 active listings and the median list price was $811,900.

Montvale area: In zip code 07645, there were 49 active listings and the median list price was $664,200.

New Milford area: In zip code 07646, there were 45 active listings and the median list price was $398,000.

The report also detailed several zip codes as “mixed markets.” This included the Alpine area, which had 41 active listings and a median list price of $4,991,500, and the Palisades Park area, which had 76 active listings and a median list price of $563,000.

When you are sick, you see your doctor. When you need your taxes done, you go to your accountant. So, when it comes to obtaining a mortgage, why would you go to anyone other than a mortgage specialist who knows your market? NVE Bank’s headquarters are in Englewood and we have 12 branches throughout Northern New Jersey, so unlike what you may find with big banks, all our personnel are your neighbors. That means our customers have access to experts who will provide answers quickly and with a local point of view. As a mutual bank, we can also offer customers competitive mortgage rates to make their home-buying dreams become a reality.

Whether you’re looking for a new home or interested in refinancing an existing loan, finding the right mortgage to fit your needs should be quick, easy and painless — exactly what you’ll find when you work with NVE’s Mortgage Specialist. We also offer a suite of convenient and helpful online mortgage tools, such as our Home Loan Calculator, to further guide you through the process of choosing and obtaining the loan that meets your needs.

NVE-Bank-mortgage-ratesKeep in mind that not all mortgage loans are created equally, and interest rates play a big role in that. Take the temperature of the current market by looking at current mortgage rates. Learn more by speaking with an NVE Lending Specialist! Call 201-816-2800, ext. 1230, or apply for a mortgage online at nvebank.com.

*A note accompanying the search tool stated the following: “Due to a small sample size, in some cases there is not enough data to make a determination. Some zip codes appear across multiple counties. In these cases the data is searchable in either county, but the area listed may be a neighboring town.”

______________________________________________________________

Sources:

http://bit.ly/2oFNyJx

Advertisements

About NVE Bank

The NVE Blog should not be used for banking purposes relating to NVE Bank. Please do not disclose any personal or business banking information on this site. NVE is an Equal Opportunity Lender, Equal Housing and Member FDIC. NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 12 offices conveniently located throughout Bergen County. For more information, please call our toll-free number 1-866-NVE-Bank (683-2265) or visit our website.
This entry was posted in Bergen County, Mortgages & Loans, New Jersey, NJ and tagged , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s