Bergen County Market Update – 10/20/2023

Pending Sales DOWN 51%

The current pending sales in Bergen County is now down over 51% when compared to this time last year.
We have gone over the reasons before… 23 year high interest rates and economic uncertainty to name a few.
But here is the thing… There will ALWAYS be people buying and selling.
And the one “good” part about this market that we are currently in, is the homes that are on the market usually have sellers that are VERY motivated.
Yes, their asking price may be inflated, thinking they can choose whatever price they want. But that does not mean they are unmotivated.
So there is some opportunity on the market now to make lower offers on homes that are listed too high. In my experience, many sellers are willing to accept a much lower price then what they are asking.
And what makes this even better for buyers is that most buyers DON’T EVEN TRY. So there is less competition.
So if you are looking to buy in this market, don’t be discouraged. You can call, text, or reply to this e-mail if I can help you in any way.
Buyers, You can always click this link below to start your home search.
Sellers, if you are motivated to sell your home, click this link to get a free value of your home.

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Jay Costa

Real Estate Agent – eXp Realty

Home Builder – Jay Costa Homes

Phone: 201-429-5535

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