Median single-family home price plummets in Bergen County

For the first time since 2003, the median single-family home price in Bergen County fell below $400,000. The state Treasury Department says Hackensack was the hardest-hit. Median home prices there dropped

News 12 Staff

Dec 30, 2011, 5:41 AM

Updated 4,529 days ago

Share:

Median single-family home price plummets in Bergen County
For the first time since 2003, the median single-family home price in Bergen County fell below $400,000.
The state Treasury Department says Hackensack was the hardest-hit. Median home prices there dropped by 10 percent this year. Barbara Weismann, a real estate agent in Bergen County, says Hackensack has a large percentage of distressed properties and it's pulling all the prices in that town down.
Weismann believes the price on that house will go down below $200,000 next year. However, she says, in more affluent towns such as Tenafly, prices are stabilizing now and 2012 will be an improved market for sellers. She says there's a potential of a 1- or 2-percent appreciation in Tenafly and in comparable towns.


More from News 12
6:07
EXCLUSIVE: Donald Trump one-on-one interview with News 12

EXCLUSIVE: Donald Trump one-on-one interview with News 12

2:10
Weather improves overnight; sunny and warm Friday ahead to start the holiday weekend

Weather improves overnight; sunny and warm Friday ahead to start the holiday weekend

1:40
New Jersey travelers say high gas prices, traffic won’t deter them from holiday getaway

New Jersey travelers say high gas prices, traffic won’t deter them from holiday getaway

2:59
Fallen trees cause widespread damage as powerful storm tears through West Milford

Fallen trees cause widespread damage as powerful storm tears through West Milford

0:17
Shocking car crash caught on camera in Manchester Township

Shocking car crash caught on camera in Manchester Township

1:08
Water main break in Hackensack sends water shooting up into the air

Water main break in Hackensack sends water shooting up into the air

0:37
Jersey Proud: Senior citizens help clean up banks of Musconetcong River

Jersey Proud: Senior citizens help clean up banks of Musconetcong River

0:55
Parents of Seton Hall student who died while isolated with COVID-19 file lawsuit

Parents of Seton Hall student who died while isolated with COVID-19 file lawsuit

0:23
Two charged in fatal Jersey City shooting

Two charged in fatal Jersey City shooting

1:23
Floodwater running ‘over the train track bridge like a waterfall’ traps driver in Avenel

Floodwater running ‘over the train track bridge like a waterfall’ traps driver in Avenel

1:32
Gov. Murphy calls out Amtrak for system failures, says it ‘disrupts quality of life’ for NJ residents

Gov. Murphy calls out Amtrak for system failures, says it ‘disrupts quality of life’ for NJ residents

1:17
Rutgers University president defends making deals with pro-Palestinian protesters

Rutgers University president defends making deals with pro-Palestinian protesters

0:21
Police seek public’s help identifying man who robbed Lopatcong credit union

Police seek public’s help identifying man who robbed Lopatcong credit union

0:19
Police: 1 person injured, 1 arrested following incident in Wall Township

Police: 1 person injured, 1 arrested following incident in Wall Township

0:57
Officer who arrested Scottie Scheffler disciplined for not having bodycam activated

Officer who arrested Scottie Scheffler disciplined for not having bodycam activated

1:50
Jersey Shore towns kick off summer pedestrian safety campaign ahead of Memorial Day

Jersey Shore towns kick off summer pedestrian safety campaign ahead of Memorial Day

News 12 Book Club

News 12 Book Club

1:41
Best Beaches: We are kicking off the unofficial start to summer at Jenkinson's in Point Pleasant Beach

Best Beaches: We are kicking off the unofficial start to summer at Jenkinson's in Point Pleasant Beach

0:20
Car carrier truck breaks out in fire on New Jersey Turnpike in Kearny

Car carrier truck breaks out in fire on New Jersey Turnpike in Kearny

0:24
Prosecutors: Homeless man accused of sexually assaulting child at Morristown park

Prosecutors: Homeless man accused of sexually assaulting child at Morristown park