March 2013 real estate stats

By Mona Demo
Keller Williams VSR, Ridgewood New Jersey
201 424-4380

Home purchase activity in New Jersey saw another double-digit increase in February with an 11%
y-o-y increase in signed purchase-contracts. Although, the increase in contract-sales activity is
not as robust as in the prior month, thus far 2013 has the strongest contract-sales activity since
2007, signaling the strongest Spring surge in home purchase contracts of the past six years.
Average fixed-rate mortgage rates were up-and-down throughout the month of March and peaked to
their highest level mid-month since August 23, 2012 (3.64% in the
northeast region / 3.63% in the U.S.). After declining the following week, mortgage rates increased
once again to an average rate of 3.60% in the northeast region and 3.57% in
the U.S.

Currently on the market, Single Family homes, Condo/Twnhs through 2012
There are 121 single family homes & condo/townhouses available in Fair Lawn.
Average List Price $293,234 Highest Price $480, Lowest Price $190,000
Single Family/Condo/Twnhs   March 2012          February 2013         March 2013
# of Listings Sold                  17                              18                           17
Average List Price                399,950                     $398,212              $334,954
Average Sold Price              417,194                     $360,600               $293,255
Sale to List Price                  91.38                         90.495                   87.554   Days On Market                   123                            116                            97

Real Estate in Bergen County has become a seller’s market, with few homes available for sale and many buyers. Multiple offers on available properties are becoming a current market trend.  According to Jeffrey Otteau, President of Otteau Valuation Group, stats the average home price is
expecting to rise by approximately 3-5% this year
FAIR LAWN SINGLE FAMILY HOMES SOLD IN MARCH 2013
DOM           Price              Style             Address               BR      FB   HB
26        $190,000         C/C     0-50 Fair Lawn Ave              4        2     0
88        $205,000         C/C     1-10 35th Street                 3        1     0
27        $230,000         C/C     35-14 Stelton Terrace          2        1     0
13        $240,000         COL   9 Burlington                         3        1     0
11        $241,000         C/C     23-25 Arcadia Road             3        2     0
33        255,000           RCH   51 Heights                           2        1     0
13        $258,000         C/C     32-02 Norwood Drive           3        1     0
87        $273,000         C/C     18-08 Saddle River Road      3        1     1
40        $290,000         S/L      7-05 Saddle River Road       3        1     1
64        $290,000         C/C     35-11 Van Duren Ave          3        1     0
147      $290,000         C/C     36-15 Lindsey Road             5        2     0
187      $291,000         C/C     14-04 Plymouth drive           3        2     0
90        $295,000         RCH   0-159 Yerger Road               3         1     0
142      $335,000         C/C     25-25 Southern Drive          4         1     1
170      $407,500         S/L      2-38 27th Street                3         2     0
352      $415,000         S/L      19-14 Prospect Ave            3         2     1
164      $480,000         C/C     2 Lafayette Place                 5         2     1

*DOM - Days On Market

Keller Williams Realty, Inc. Announced as America’s #1 largest real Estate Franchise. Mark Willis,
CEO announced from the stage at Family Reunion KW was now the largest real estate franchise
company, by agent head count in the united States
Keller Williams Realty Ranks #8 on the list of the Top 150 Company’s to work for
in the USA.
Keller Williams Realty, Inc. , Receives 2 awards from JD Power & Associates. KW Ranks highest in
customer satisfaction in both the home buyer and home seller segments.

All Real Estate Statistics
Note: These properties were listed and sold by various participants of the NJMLS, and statistics
are based on information from the New Jersey Multiple Listing Service, Inc. for the period March 1, 2013 thru March 31, 2013

Please call me for a Complimentary, Competitive Market Analysis on your home. This information will
give you the value of your home, in today’s market.
Absolutely FREE,
No obligation of any kind!

Mona Demo # 201 424-4380