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For Northern NJ | March, 2025
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Bergen and Passaic Counties Real Estate Market Update: January 2025 Insights
January 2025 Real Estate Market Update for Bergen and Passaic Counties
Introduction: Real Estate Trends in Bergen and Passaic Counties
As we enter January 2025, the real estate market in Bergen and Passaic Counties is bustling with activity. Home prices are reaching new heights, creating a pivotal moment for both sellers and buyers. This blog post will break down the latest trends and statistics, providing valuable insights for anyone interested in the local real estate scene.
Bergen County Home Prices Surpass $1 Million
The average closed sales price in Bergen County has officially exceeded the million-dollar mark, approaching nearly $1.1 million. This significant milestone indicates a robust market, with demand outpacing supply. For potential sellers in Bergen County, this is an opportune moment to list your home and take advantage of record prices.
Rising Home Prices in Passaic County
Passaic County is also experiencing a surge in home prices, with properties now selling for well over $625,000. This increase is particularly noteworthy for first-time home buyers who are increasingly looking to Passaic County as an alternative to the more expensive Bergen market.
Town-by-Town Breakdown
Let’s delve deeper into key towns that are seeing noteworthy trends:
Hawthorne: Almost a 4% increase in sale-to-list price.
Wayne: Leading the pack with over a 6% increase.
Clifton: Close behind with nearly a 6% increase.
Teaneck: Also reporting a 4% increase.
These towns are showing consistent growth in sale prices, indicating strong demand amidst limited inventory.
The Importance of Acting Now
For home buyers, waiting may prove costly. The restricted supply of homes is leading to quicker sales and increasing prices. The current market conditions suggest that buyers should act promptly to secure their desired properties before prices escalate further.
Seller's Market – Now is the Time to Sell
Sellers are in a prime position to capitalize on this market. With a shrinking inventory and rising sale-to-list price ratios, now may be one of the best times to sell your home in Bergen or Passaic County. If you're considering selling, it’s essential to evaluate your options and get your home on the market.
Conclusion: Connect With an Expert
If you're interested in learning more about your specific town or would like personalized insights into your home search, don’t hesitate to reach out. Whether through a direct message, phone call, or text, I’m here to provide the information you need.
Stay tuned for next month's update, and let’s navigate this exciting market together!
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Report Cards by Town
Brought to you by Niche.com
Check out Niche's 2024 Best Places to Live in Bergen County here
Bergen County, NJ
Bergen County, New Jersey, has a population of 953,243 and is considered one of the best places to live in the state. Most residents own their homes, and the area offers many bars, restaurants, coffee shops, and parks. It attracts young professionals, with residents generally leaning liberal. The public schools in Bergen County are highly rated.
Tenafly, NJ
Tenafly, a suburb of New York City in Bergen County with a population of 15,299, is one of the best places to live in New Jersey. Most residents own their homes and enjoy a suburban feel with numerous restaurants, coffee shops, and parks. The town attracts families, and residents generally hold moderate political views. Tenafly’s public schools are highly rated.
Oradell, NJ
Oradell, a New York City suburb in Bergen County with a population of 8,208, is considered one of the best places to live in New Jersey. Residents enjoy a suburban feel, with most owning their homes. The town has plenty of coffee shops and parks and is popular among retirees. Oradell residents generally lean conservative, and the public schools are highly rated.
Hawthorne, NJ
Hawthorne, a suburb of New York City in Passaic County with a population of 19,456, offers a dense suburban feel with many restaurants, coffee shops, and parks. It attracts families and young professionals, with residents generally leaning liberal. The public schools are rated above average.
Demarest, NJ
Demarest, a New York City suburb in Bergen County with a population of 4,930, is considered one of the best places to live in New Jersey. It has a rural atmosphere, with most residents owning their homes. The community generally holds moderate political views, and the public schools are highly rated.
Closter, NJ
Closter, a New York City suburb in Bergen County with a population of 8,555, is highly rated as a place to live in New Jersey. It provides a rural feel, and most residents own their homes. The community tends toward moderate political views, and the public schools are highly rated.
Montvale, NJ
Montvale, a New York City suburb in Bergen County with a population of 8,413, is known as one of New Jersey’s top places to live. It offers a sparse suburban atmosphere, with most residents owning their homes. The area attracts many young professionals, and the community generally leans conservative. Montvale’s public schools are highly rated.
Upper Saddle River, NJ
Upper Saddle River, a New York City suburb in Bergen County with a population of 8,313, is highly rated as a place to live in New Jersey. It offers a rural feel, with most residents owning their homes and enjoying the town’s numerous parks. Residents tend to hold moderate political views, and the public schools are highly rated.
Woodcliff Lake, NJ
Woodcliff Lake, a New York City suburb in Bergen County with a population of 6,096, is highly regarded as a place to live in New Jersey. It provides a sparse suburban feel, with most residents owning their homes and enjoying many coffee shops and parks. The community leans conservative, and the public schools are highly rated.
Real Estate Insights, Home Tips & More
Bergen and Passaic Counties Real Estate Market Update: January 2025 Insights
January 2025 Real Estate Market Update for Bergen and Passaic Counties
Introduction: Real Estate Trends in Bergen and Passaic Counties
As we enter January 2025, the real estate market in Bergen and Passaic Counties is bustling with activity. Home prices are reaching new heights, creating a pivotal moment for both sellers and buyers. This blog post will break down the latest trends and statistics, providing valuable insights for anyone interested in the local real estate scene.
Bergen County Home Prices Surpass $1 Million
The average closed sales price in Bergen County has officially exceeded the million-dollar mark, approaching nearly $1.1 million. This significant milestone indicates a robust market, with demand outpacing supply. For potential sellers in Bergen County, this is an opportune moment to list your home and take advantage of record prices.
Rising Home Prices in Passaic County
Passaic County is also experiencing a surge in home prices, with properties now selling for well over $625,000. This increase is particularly noteworthy for first-time home buyers who are increasingly looking to Passaic County as an alternative to the more expensive Bergen market.
Town-by-Town Breakdown
Let’s delve deeper into key towns that are seeing noteworthy trends:
Hawthorne: Almost a 4% increase in sale-to-list price.
Wayne: Leading the pack with over a 6% increase.
Clifton: Close behind with nearly a 6% increase.
Teaneck: Also reporting a 4% increase.
These towns are showing consistent growth in sale prices, indicating strong demand amidst limited inventory.
The Importance of Acting Now
For home buyers, waiting may prove costly. The restricted supply of homes is leading to quicker sales and increasing prices. The current market conditions suggest that buyers should act promptly to secure their desired properties before prices escalate further.
Seller's Market – Now is the Time to Sell
Sellers are in a prime position to capitalize on this market. With a shrinking inventory and rising sale-to-list price ratios, now may be one of the best times to sell your home in Bergen or Passaic County. If you're considering selling, it’s essential to evaluate your options and get your home on the market.
Conclusion: Connect With an Expert
If you're interested in learning more about your specific town or would like personalized insights into your home search, don’t hesitate to reach out. Whether through a direct message, phone call, or text, I’m here to provide the information you need.
Stay tuned for next month's update, and let’s navigate this exciting market together!
