Homes in Train Towns, like Ridgewood and Glen Rock, sell more quickly and hold their value better than homes in “train-less” towns.

According to today’s Sunday Record, “Homes in towns with rail stations at their heart or nearby fare much better than those in any other market.”  The paper goes on to cite a study by noted NJ Real Estate Expert Jeffery Otteau which found that nine of the top 10 NJ housing markets either have a train station or are less than one mile away from a rail stop. In Bergen County, Midland Park and Ridgewood made the list.

The Record Article backs up what the Ridgewood Front Porch has been saying about Ridgewood Real Estate all along.

The Ridgewood Real Estate market has held up very well during these uncertain times.   Median Home Prices in Ridgewood have actually risen in the 2nd and 3rd quarters of this year when compared to 2007.

In central New Jersey, Otteau found that homes within walking distance [of trains] had values 10 percent higher than their counterparts. Otteau said the findings would “certainly” hold true for Bergen County rail towns and added that “The closer you get to Manhattan, the greater the effect.”

See the links below for more detailed info on the performance of the Ridgewood Real Estate market.

Ridgewood Home Values Rise in 3rd Quarter 2008

Ridgewood Home Prices Rise in 2nd Quarter. Time to Buy?

Today’s Record Article and Jeff Otteau’s report focus on the significance of Rail Service.  See below for more info about Commuting to New York from Ridgewood NJ.

Ridgewood NJ Commuter’s Secret – Manhattan Door-to-Door in Less than an Hour

Parking in Ridgewood NJ – The Train Station, Downtown, Meters, Permits and More

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