BLOOMFIELD NJ - Realtor Nick Baldwin of Keller-Williams spent time with TapInto to discuss Bloomfield NJ becoming a home buying destination.
Years ago, Baldwin explained, Bloomfield was a town that Montclair buyers had to be introduced to, but now, with top schools and major gentrification in many sections, the township is a point of interest. Realtors are seeing lots of first-timers from Hoboken and Brooklyn deciding to call Bloomfield home, and for many Bloomfield was at the top of their list. Local theater companies, award winning restaurants, and vast open spaces, including two Olmstead designed parks.
Bloomfield is broken up into sections based on schools, and each section has its own value. Homes in the Brookdale section are on the higher end of the home value scale. With values in the mid-400s, Brookdale is close in value to neighboring Montclair resulting in some potential buyers choosing to look there. Homes in Oakview are in the 300-400 range, Demarest usually sees values in the mid-high 200's, Franklin and Watsessing are in the mid-300's as well in large part because of their proximity to Glen Ridge.
Over the past 24 months, Bloomfield home values have risen an average of 14%. In the past 12 months, 316, 3+ bedroom homes have sold in Bloomfield with an average sale price of $305,382 at 98% of list price and an average days on market of 63.
Baldwin added “I truly see Bloomfield continuing to be a destination for a long time to come.”