You may be wondering if now is the right time to list your home in Ridgewood, or surrounding areas. When making this decision, be sure to examine absorption rates within the local real estate market.
Tarvin Realtors has calculated the absorption rate for Ridgewood and surrounding towns through May 31st, 2014.
Bergen County Real Estate Absorption Rates
Within the Bergen County real estate market, an absorption rate that is less than 6 indicates a seller's market. This means that homes are selling at a quicker rate, and final prices will be very similar to the original listed price. On the flip side, and absorption rate of more than 6 indicates a buyer's market. The buyer will usually be able to negotiate a price much lower than the listing price…