The average price for properties currently available in Bloomfield is approximately $325,000. The range in pricing is from $123,000 - $449,000. Remember there are several properties that are in foreclosure (bank owned) and short sales (require bank approval) which are all included in these numbers.
Distressed typically is used to describe an area where there's a widespread unemployment and poverty compared to the state averages. Are you looking only in Bloomfield? There are many affordable opportunities in "northern" New Jersey outside Bloomfield. Let me know if you'd like more information!
ERA Statewide Realty
Office: (908) 874-7797, ext 519
Cell: (908) 444-3106