Bergen County Real Estate Review: Englewood Cliffs Homes July & August 2011
The following is an analysis of the Englewood Cliffs homes real estate market activity during July & August of 2011.
- Overall, we had 4 listings of Englewood Cliffs homes SOLD with an average sold price of $898,000.
- The average sold price to listing price ratio was 88.75%.
- There were 25 “NEW” Englewood Cliffs home listings during July & August.
- The total # of ACTIVE listed Englewood Cliffs homes is currently at 83 with an average listing price of $1,783,000.
- The average market time or Days On Market (DOM) for the period was 69 days.
What we've seen in July & August is that the Englewood Cliffs homes SOLD
& UNDER CONTRACT were in the lower end of the market, while NEW
& EXTENDED listings were in the higher priced range.
Overall Status of Listed Englewood Cliffs Homes
| Listing Status |
Total |
Total List/Sale Dollars |
Average List
Price |
Average Sold
Price |
Median Sold
Price |
Sale Price/
List Price* |
Avg DOM |
| Sold |
4 |
$ 3,592,000 |
$ 1,011,750 |
$ 898,000 |
$ 895,000 |
88.757 |
69 |
| Co-Broker |
4 |
$ 3,592,000 |
$ 1,011,750 |
$ 898,000 |
$ 895,000 |
88.757 |
69 |
| List/Sold |
0 |
$ 0 |
$ 0 |
$ 0 |
$ 895,000 |
|
|
| New |
25 |
$ 46,047,887 |
$ 1,841,915 |
|
|
|
|
| Under Contract |
13 |
$ 15,493,600 |
$ 1,191,815 |
|
|
|
120 |
| Withdrawn |
14 |
$ 19,763,900 |
$ 1,411,707 |
|
|
|
183 |
| Expired |
13 |
$ 17,571,900 |
$ 1,351,685 |
|
|
|
320 |
| Back on Market |
2 |
$ 3,143,000 |
$ 1,571,500 |
|
|
|
121 |
| Extended |
11 |
$ 17,830,999 |
$ 1,621,000 |
|
|
|
232 |
| Current Active |
83 |
$ 147,965,799 |
$ 1,782,720 |
|
|
|
|
Terms of Sale: Englewood Cliffs Homes
| Terms of Sale |
Total |
% Total |
Total List
Dollars |
Average List
Dollars |
Average Sold
Dollars |
Sale Price/
List Price |
| CONV/FIXED |
1 |
25 |
$ 1,399,000 |
$ 1,399,000 |
$ 1,127,000 |
80.56 |
| CONV/ARM |
|
|
|
|
|
|
| VA |
|
|
|
|
|
|
| FHA |
1 |
25 |
$ 799,000 |
$ 799,000 |
$ 740,000 |
92.62 |
| CASH |
2 |
50 |
$ 1,849,000 |
$ 924,500 |
$ 862,500 |
93.29 |
Information herein deemed reliable but not guaranteed. 8/31/2011 New Jersey MLS, Inc.
Englewood Cliffs enjoys a very close proximity to New York City and a lower tax rate than many Bergen County towns (along with other towns such as Alpine, Saddle River, & Paramus).
See all current Englewood Cliffs, NJ homes for sale here!
(With PICTURES & DETAILS on all ACTIVE listings!)
The stark reality for buyers & sellers (not a sales pitch or fear mongering!) :
If you're considering purchasing a Bergen County home, be mindful that
mortgage lending standards are continuing to tighten (if you'll be
applying for financing). There is current legislation that will make it
even more difficult to qualify for a mortgage. Now may be the best time
to buy or move up.
If you’re thinking about selling your Bergen County home in the near future, sooner may be better than later, since an extensive amount of distressed properties will be hitting the market this fall & winter (depending upon your specific location, of course). This will undoubtedly cause further downward pressure on market values... That means ALL values will be affected for the near future.
Add to this, the tightening purchase money market for buyers lessening
demand further and, well... Sooner is most likely better.
Explore the innovative
Jersey Home Scene marketing plan & see why it’s been called,
“…nothing short of a tech-savvy, online marketing arsenal!”
Bergen County Real Estate Review: Englewood Cliffs Homes July & August 2011
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