www.LuxuryHomeMarketing.com Home of the CLHMS TM 2024 MAY BERGEN COUNTY NEW JERSEY
$8,000,000
LUXURY INVENTORY VS. SALES | APRIL 2024
$5,000,000 - $5,999,999
$4,000,000 - $4,999,999
$3,500,000 - $3,999,999
$3,000,000 - $3,499,999
$2,500,000 - $2,999,999
$2,000,000
$1,800,000
$1,600,000 - $1,699,999
$1,500,000 - $1,599,999
$1,400,000 - $1,499,999
$1,335,000 - $1,399,999
Beds3 -RangePrice -Median SoldDOM -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0-3 Bedrooms $1,760,000 10 4 1 5 20% 4 Bedrooms $1,500,000 24 3 11 49 22% 5 Bedrooms $1,750,000 19 5 27 82 33% 6 Bedrooms $2,995,000 49 7 9 85 11% 7 Bedrooms $2,599,000 16 7 5 32 16% 8+ Bedrooms $1,535,000 29 4 1 14 7%
- FAMILY HOMES 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory. 7 4 10 12 38 19 21 28 37 26 9 12 12 15 17 0 0 0 0 3 2 2 3 6 11 5 3 10 4 5
BERGEN COUNTY SINGLE
$10,000,000+
- $9,999,999
$6,000,000 - $7,999,999
- $2,499,999
-
$1,999,999
$1,700,000 - $1,799,999
Inventory Sales
Balanced Market Total Inventory: 267 Total Sales: 54 Total Sales Ratio2 : 20% Luxury Benchmark Price 1: $1,335,000
BERGEN COUNTY SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
VARIANCE: N/A N/A N/A SALE PRICE PER SQFT.
- 26 % 27 20 DAYS ON MARKET VARIANCE: 0 % 99.78% 100.00% SALE TO LIST PRICE RATIO
BERGEN COUNTY MARKET SUMMARY | APRIL 2024
• The single-family luxury market is a Balanced Market with a 20% Sales Ratio.
• Homes sold for a median of 100.00% of list price in April 2024.
• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 83%
• The median luxury sales price for single-family homes is $1,780,000.
• The median days on market for April 2024 was 20 days, down from 27 in April 2023.
Solds Median Sales Price Inventory 200 239 252 253 247 252 237 218 186 209 224 230 267 46 56 95 79 97 50 48 38 49 41 34 43 54 $1,625,000 $1,665,000 $1,790,000 $1,650,000 $1,700,000 $1,862,500 $1,640,000 $1,705,000 $1,738,000 $1,625,000 $1,887,500 $1,795,000 $1,780,000 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
4
properties
properties.
3Square foot table does not account for listings and solds where square foot data is not disclosed.
Data reported includes Active and Sold
and does not include Pending
VARIANCE: 34 % 200 267
2024 TOTAL INVENTORY VARIANCE: 17 % 46 54 TOTAL SOLDS VARIANCE: 10 % $1.63m $1.78m SALES PRICE
Apr. 2023 Apr.
VARIANCE:
Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Luxury Benchmark Price 1: $1,335,000
$1,600,000
$1,500,000
LUXURY INVENTORY VS. SALES | APRIL 2024
$1,000,000
$950,000
BERGEN
ATTACHED HOMES Beds3 -RangePrice -Median SoldDOM -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0-1 Bedrooms NA NA NA 0 0 NA 2 Bedrooms $1,500,000 115 3 1 12 8% 3 Bedrooms $1,117,713 37 4 32 70 46% 4 Bedrooms $1,850,000 62 5 5 20 25% 5 Bedrooms $1,700,000 71 5 1 5 20% 6+ Bedrooms NA NA NA 0 0 NA 8 3 3 5 6 6 14 20 3 8 7 10 0 12 2 0 1 2 2 2 0 1 4 6 3 4 5 0 7 2 $2,500,000+ $2,000,000 - $2,499,999 $1,800,000 - $1,999,999
COUNTY
- $1,799,999
- $1,599,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,250,000 - $1,299,999 $1,200,000 - $1,249,999 $1,150,000 - $1,199,999 $1,100,000 - $1,149,999 $1,050,000 - $1,099,999
- $1,049,999
- $999,999 $900,000 - $949,999
Inventory Sales Luxury Benchmark Price 1: $900,000 Seller's Market Total Inventory: 107 Total Sales: 39 Total Sales Ratio2 : 36% 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 12%; Balanced >= 12 to < 21%; Seller's >= 21%. If >100% MLS® data reported previous month’s sales exceeded current inventory.
BERGEN COUNTY ATTACHED HOMES
Luxury Benchmark Price 1: $900,000
13 - MONTH LUXURY MARKET TREND 4
Median Sales Price Inventory
Solds
MEDIAN DATA REVIEW | APRIL
INVENTORY TOTAL SOLDS
N/A N/A N/A SALE PRICE PER SQFT. BERGEN COUNTY
MARKET SUMMARY | APRIL 2024
• The attached luxury market is a Seller's Market with a 36% Sales Ratio.
• Homes sold for a median of 98.79% of list price in April 2024.
• The most active price band is $1,200,000-$1,249,999, where the sales ratio is 200%
• The median luxury sales price for attached homes is $1,175,000.
• The median days on market for April 2024 was 37 days, up from 20 in April 2023.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
154 155 149 157 159 140 146 138 95 105 112 98 107 22 31 31 42 37 43 30 20 18 22 23 31 39 $1,128,718 $1,054,122 $1,100,000 $1,105,500 $1,146,994 $1,142,525 $1,115,500 $1,135,738 $1,150,000 $1,067,500 $1,126,409 $1,210,000 $1,175,000 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
% 154 107 VARIANCE: 77 % 22 39 VARIANCE: 4 % $1.13m $1.18m SALES PRICE VARIANCE:
VARIANCE: - 31
85 % 20 37 DAYS ON MARKET VARIANCE: - 2 % 100.51% 98.79% SALE TO LIST PRICE RATIO VARIANCE:
Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024 Apr. 2023 Apr. 2024
TOTAL
