Real Estate Buzz: The Caldwells

This Week’s Real Estate Buzz:

My apologies for not posting the Buzz last week, as I was visiting my father in Georgia (land of low taxes—his annual property tax = $800!). After a week of fried chicken and warm weather, I am ready to get back to work.

North Caldwell seems to have caught real estate fever as there were no fewer than eight new listings hitting the market in that borough alone this week. Why do you think North Caldwell is so hot right now?  

Here is the breakdown of all the Caldwells:

For the week of 02/12/12 - 02/18/12:

New Listings: 9 (8 North Caldwell, 1 West Caldwell)

Back on Market: 4 (2 Caldwell, 2 North Caldwell)

Under Contract: 6 (3 Caldwell, 1 North Caldwell, 2 West Caldwell)

Price Changes: 4 (3 Caldwell [including the one pictured at 26 Myrtle from $452,00 to $439,000], 1 West Caldwell)

Homes Sold: 1 (West Caldwell)