April 20, 2012 |
While the Tenafly Real Estate Market has been a top performer with stellar gains over last year, multiple offers though were not commonplace. It seems however that 2012 may be the first year when sellers start seeing multiple bids on those properties that are priced to today’s market conditions.
As other parts of the country are still experiencing precipitous drops in their home values, Tenafly’s commitment as a community towards education has contributed to Tenafly’s real estate values remaining enviable and, has been the main draw for newcomers
Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. Many people seem to have concluded that prices won’t drop much further and that after five years of recession prices may actually start up ticking.
77 Hazelton Terrace A beautiful four year young colonial was listed for $1,349,000 on March 22 and was Under Contract by April 5th
17 Coppel Drive Was Listed for $749,000 On April 3 2012 and went Under Contract on April 19th