The pandemic has caused significant changes in the housing market, and Bergen County is no exception. According to a report from Altos, the median days on the market in Bergen County has substantially decreased to 56 days from a high of 84 earlier this year. The report provides a summary of the breadth of the housing market in the county as well as other insights into the effects of the pandemic on the region.
The main points of this report show that the decrease in median days on the market was mainly driven from a decrease in days to contract for the entire county. Additionally, the report highlights a sharp decrease in new listings in the county and highlights which areas have experienced the most significant drops. The inventory in Bergen County has also decreased, and the county’s housing market spent the majority of the year in a buyer’s market.
Overall, the pandemic has had a noteworthy impact on the housing market in Bergen County, specifically in the median days on the market. The effects of the pandemic have caused a decrease in the number of new listings, a decrease in days to contract, and a decrease in the overall inventory. The report from Altos provides insights into how these changes have affected the region.
You can read this full article at: https://www.housingwire.com/articles/local-housing-markets-fargo-bergen-county-and-30a-florida/(subscription required)
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