By For savvy real estate investors, homes for sale in Cresskill offer prime opportunities. This lovely Bergen County, New Jersey, community provides convenient access to New York City and great schools, parks, and amenities. Cresskill’s housing inventory includes stunning Victorian homes and more contemporary luxury properties. Investing in Cresskill real estate can provide consistent returns due to its desirability and steadily rising values. Act quickly to take advantage of this potential market.
Buying a home in Cresskill: Home prices and sales trends
Cresskill property values have risen steadily during the last ten years. According to Zillow, the median home value as of October 2022 was around $800,000, representing a 2.4% year-over-year increase. Appreciation rates have averaged around 4-6% annually since 2012. The demand for homes remains strong, with a typical home selling in 29 days. Low mortgage rates have historically allowed buyers to secure advantageous financing. While sales slowed slightly in 2020 due to the pandemic, the market rebounded in 2021 with a 19.6% increase in the number of homes sold compared to the previous year. This momentum has carried into 2022, with year-to-date home sales up another 5.2%. The strong sales activity indicates there are plenty of interested buyers eager to purchase homes in town.
Demographic trends
The town of Cresskill has a population of around 9,100 residents. It has remained fairly steady over the last ten years, with slow but steady growth. According to the latest Census data, the population is slightly older than the national average, with a median age of 45. Cresskill is predominantly an upper-middle-class commuter town, with average household incomes substantially higher than the state and national median. The town has attracted many families thanks to its excellent school district. This helps create stability in the local economy and housing market.
Development outlook
Because Cresskill is nearly fully built out, large-scale new development is limited. However, the downtown area has seen some newer mixed-use construction, with additional projects in the pipeline. These may offer attractive opportunities for commercial real estate investors. When it comes to new housing, older homes are periodically demolished to make room for new single-family homes.
Cresskill real estate
Cresskill housing prices are quite high compared to surrounding towns. Most homes in Cresskill are single-family colonials, split-levels, and ranch-style houses built in the 1950s-1990s. The real estate market is competitive as demand for homes in this desirable commuter town remains strong. Cresskill real estate offers suburban comfort with proximity to the city.
Things to do in Cresskill
Cresskill is a charming town in New Jersey with plenty to offer visitors. Stop by Historic Blauvelt Mansion for a tour of this 19th-century home. The Cresskill Public Library hosts community events like book clubs and children’s storytimes. Enjoy nature walks along the wooded trails in Tenakill Brook Nature Preserve. Sample craft beer and brick oven pizza at District 96 Beer Factory. Visit Cresskill Recreation Complex to swim in the outdoor pool or play a game on the sports field. Investing now in Cresskill real estate while prices are still relatively affordable could pay off handsomely in the long run as the town grows and thrives.
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