Real Estate for sale Old Tappan, New Jersey. Listing of homes sold. home sales volume, including sales price, median price, homes sold, average sales price. Study of real estate residential home sales prices.
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RE/MAX REAL ESTATE ASSOCIATES 123 Broadway WoodCliff Lake New Jersey 07677 201 573 8811 ext 331 Richard Stabile
Old Tappan sales study for 2003-2008 using NJMLS data for sales from all brokers, shows little decline in average sales price. A somewhat greater than 12% decline for median price from high year of 2006 to the first 10 months of 2008. This is one of the least affected Towns I have studied so far. I ran the study on county data for Old Tappan and the average sale price continued to increase when all residential homes sales including condominiums are included. County data includes all residential properties. My assumption is that Old Tappan price range has become broader as new homes have been built at much greater values then the existing inventory. This new growth has continue to effect average sales price. Compared to many other parts of the U.S., Old Tappan real estate values are holding considerably better.
Residential house sales only. Old Tappan 2008 full year sales comparison for 2003 to 2008 New Jersey Multiple Listing statistic for all Broker sales. With the growth in the community to large, luxury homes the average sales prices and median prices have held well. As in other high end growth areas, the decline in prices are disguised by the growth of the larger property sales.
Overall sales dollar volume has declined 30.50% while average sales price only shows a 5.39% decline. The median price decline 9.55%.
These are yearly averaged figures. They do not reflect actual highest price or lowest.
It is evident that Old Tappan has faired much better than many parts of the country as to real estate values.