The real estate news is more and more positive in Ringwood, NJ and Passaic County. Compared to one year ago, Ringwood, NJ median home sales prices have increased 5.5%. In fact, across the country, home prices and sales have increased. This is great news. However, real estate values and sales volume are hardly at previous levels.  For Ringwood residents, it's still a Buyer's Market, especially in high-end luxury real estate.

The Ringwood, NJ buyers getting the best deals are those buying luxury real estate. While median home prices may have increased, luxury homes have had the biggest drop in pricing. Buying a high end property now can result in tremendous savings.

A recent article in the Wall Street Journal points out the significant drop in price among luxury real estate. Data is showing that while mainstream home prices are stabilizing, luxury real estate, homes selling for $2 million or more, are dropping their asking prices an average of 14%. The article states, “Bottom line: At the high end, it's a good time to be shopping for that dream home.”

If you have been dreaming of buying a luxury home in Ringwood, NJ and have the money, this could be the time to make your dream come true.

Click here to visit the Wall Street Journal article “Seeking Real Estate Bargains? Try Looking at the High End”.

Click here to view Orly's

Ringwood NJ Real Estate and Wanaque NJ Homes for Sale

Click here to Search homes for sale in Ringwood, Wanaque, West Milford and the surrounding area.