Local Realtors say that the charm of the area plus new building is making Closter, New Jersey the place for homebuyers to consider.
"Closter is a very desirable community with plenty of borough-owned open space," says Realtor Paul G. MacDonald. "Closter has a great charm due to a large amount of the total area owned either by the water company or the borough.
MacDonald explains, "The residential section consists of two districts requiring either a minimum 12,500 or 15,000 square foot lot size. Children attend school within the borough at either Hillside (K-4) or Tenakill (5-8). Students grades 9-12 study at the Northern Valley Demarest campus. Many buyers wish to locate here since this community is recognized by its excellent schools. The east hill tends to have larger-sized lots and commands higher prices. Closter is easily accessible from Manhattan, being situated at exit two of the Palisades Interstate Parkway, a short drive from the George Washington Bridge."
Agrees Realtor Anat Eisenberg, "Situated in Bergen County (The fifth richest county nationally) 10 minutes away from George Washington Bridge, Closter has enjoyed a lot of new construction resulting in increasing demand. With a good school system, lush green settings, proximity to major shopping malls Closter is a perfect place for a high quality of life surroundings."
She says, "Closter has seen a resurgence in new construction, resulting in higher average prices of about 31 percent for the first 6 six months of 2003 compared to same period last year. As demonstrated by the numbers, Closter is definitely in big demand for luxury homes!
COMPARATIVE MARKET ANALYSIS
January 2002 sold 5 Avge Price $415,780
January 2003 sold 9 Avge Price $587,555
February 2002 sold 10 Avge Price $479,000
February 2003 sold 6 Avge Price $562,833
March 2002 sold 5 Avge Price $347,920
March 2003 sold 3 Avge Price $658,833
April 2002 sold 9 Avge Price $504,722
April 2003 sold 3 Avge Price $963,333
May 2002 sold 15 Avge Price $455,126
May 2003 sold 14 Avge Price $558,214
June 2002 sold 10 Avge Price $560,794
June 2003 sold 3 Avge Price $697,750
TOTAL: Jan-June 2002 sold 61 at Avge Price $483,956
TOTAL: Jan-June 2003 sold 49 at Avge Price $635,000
"Although 20 percent less units sold in the first six months of 2003 compared to same period the previous year, the average price rose by 31 percent."
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Published: July 17, 2003
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