Ridgewood, NJ Real Estate Blog

(NorthJersey.com, December 31)  Home prices continued to rise in the region in October, but at a cooler pace than in the nation as a whole, the Standard & Poor's/Case-Shiller home price index reported Tuesday.

Values of single-family homes rose 4.9 percent in the New York metropolitan area, which includes North Jersey, in the 12 months ended in October. That compares with a rise of 13.6 percent nationwide - the biggest year-over-year jump since 2006, when the housing market was booming.

Even with these increases, home prices are only at the levels of almost a decade ago, mid-2004, and remain about 20 percent below their peaks in mid-2006, both nationally and in the area.

Case-Shiller does not break out prices by county, but according to the

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(NorthJersey.com, December 29)  After the deepest downturn since World War II, North Jersey's housing market continued its slow climb back in 2013, with home prices, sales and construction all on the rise.

Home prices for the New York metropolitan area, which includes North Jersey, rose 4.3 percent in the 12 months ended in September, compared with 13.3 percent in the nation as a whole, according to the S&P/Case-Shiller home price index. Prices in the region didn't drop as much after the housing boom as in many areas, so they have less ground to make up. Both national and regional home values remain about 20 percent below their peaks in mid-2006.

The number of home sales is also up over last year — about 19 percent in Bergen County and 25 percent

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If you’re looking for information on the Ridgewood, New Jersey real estate market and a sales trend report for 2013, you’ve come to the right place. As the year comes to a close it is always good to look back and see what factors caused fluctuations in the market and what trends we can expect for the next year. At Tarvin Real Estate, we’ve created our market snapshot to give you the best idea of the community’s trends and think you’ll find this blog post to be a great supplement to that snapshot. Let’s take a look at the Ridgewood NJ 2013 home sales trends and how the real estate market fluctuated throughout the year.

Although existing home sales saw drops in the later part of 2013 (mainly in September and October) likely due to higher mortgage rates,

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The November data from the New Jersey Association of REALTORS® monthly housing market reports indicates a good holiday season ahead in the real estate market. Pending sales were up more than 25 percent from last November, which indicates we'll see more closed sales in the upcoming months. New listings also saw a big gain over last November – more than 27 percent -- which shows seller confidence is increasing. The median sales price had a modest increase at just under 2 percent over last November, which is a good sign of steady recovery.
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The holiday season is one of the most special times in Bergen County, New Jersey. Home to a wealth of exciting holiday activities ranging from memorial runs to fundraisers, concerts to museum exhibits, visits with Santa to building snowmen in the park, you’ll find something for the entire family in the slew of Bergen County upcoming holiday events. Our team of real estate professionals at Tarvin Real Estate has put together a list of some of our favorite activities and attractions during the holiday months to share with you. Let’s take a look at these wonderful events – just another reason why Bergen County is an excellent place to live, work and play.

A Christmas Carol at the Bergen Performing Arts Center: On December 21st, enjoy this interpretation

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(NorthJersey.com, December 2)  Builders are on track to start the largest number of New Jersey homes this year since 2007, signaling the revival of a market that was severely constricted after the recession and the 2008 financial crisis.

According to new census data on building permits, home construction is running about 37 percent ahead of last year's pace. Through October, 20,051 housing units were started — already passing last year's full-year total of just under 18,000.

The market's momentum is being powered by multifamily construction, which has accounted for about 57 percent of the activity through October — a similar percentage to last year.

"Overall, it's a positive report," said Patrick O'Keefe, an economist with the accounting firm

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Ridgewood NJ has been named one of the country's "super zips" by The Washington Post, placing it among 650 zip codes nationwide with the highest median income and percentage of college graduates. Basing its data on the U.S. Census, the report notes that Ridgewood is one of the most educated and highest-earning communities in the country - ranked 99, with a median household income of $154,275 and where 75 percent of residents are college graduates.
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