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For Northern NJ | March, 2025
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Eastern Bergen County Housing Market Update Prices Still Rising in 2025?
Eastern Bergen County Housing Market Update – Prices Still Rising in 2025?
Welcome to your monthly real estate market update for Eastern Bergen County, brought to you by the Stacy Esser Group. In this blog, we'll delve into the latest trends affecting communities like Tenafly, Cresskill, Demarest, Haworth, and Closter. With rising interest rates at 7%, many are curious about how they impact our local market. Here’s what you need to know.
Current Market Conditions
Despite the national trends indicating a slowdown, the real estate market in Eastern Bergen County remains robust. Here are some key insights:
Low Supply: The inventory of homes for sale is still significantly low. In Tenafly, for instance, we are experiencing only 1.27 months of inventory, which highlights the competitive nature of the market.
Rising Property Values: Year-over-year data shows that median estimated values are on the rise: Tenafly has seen an increase of 8.5%, Cresskill 10%, and Demarest 13%. This increase in value signifies that buyers are still keen on investing in these desirable areas.
Seller's Market: With months of supply under four, we are firmly in a seller's market. Homes are selling close to their listing prices, with Tenafly averaging around 99.5% of the asking price.
Town-Specific Insights
Tenafly
Tenafly continues to thrive as a highly sought-after community. The current market reflects strong demand, with homes selling quickly and values on the rise. As we approach the seasonal inventory increase starting in late February, we expect to see more listings come onto the market, potentially impacting the supply dynamics.
Cresskill
Cresskill's market is also competitive but shows signs of hovering around a more balanced state. Buyer interest remains high, but an influx of inventory could shift this dynamic. It’s crucial to monitor the supply closely in the coming weeks.
Demarest, Haworth, and Closter
These towns are experiencing similar trends. With demand exceeding supply, properties are moving quickly, and sellers are in control. The unique characteristics of each community continue to attract buyers looking for specific amenities and lifestyles.
What’s Next?
As we transition into spring, the market typically sees an uptick in available inventory. Historically, this trend peaks around May, making it essential for buyers to stay informed and act quickly. If you’re considering buying or selling, now is the time to get involved.
Exclusive Listings
For homeowners thinking about upgrading or downsizing, we have some exciting off-market opportunities on the horizon. Reach out to the Stacy Esser Group for exclusive access to these listings and to get a jumpstart on your real estate journey.
Conclusion
The Eastern Bergen County real estate market is resilient, even in the face of rising interest rates. With low inventory and increasing property values, it's a great time for both buyers and sellers. Stay informed, and don’t hesitate to contact us for personalized advice and insights.
For more information about the real estate market, exclusive listings, or any questions you might have, feel free to reach out to the Stacy Esser Group. We’re here to help you navigate this exciting market!
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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
Eastern Bergen County Housing Market Update Prices Still Rising in 2025?
Eastern Bergen County Housing Market Update – Prices Still Rising in 2025?
Welcome to your monthly real estate market update for Eastern Bergen County, brought to you by the Stacy Esser Group. In this blog, we'll delve into the latest trends affecting communities like Tenafly, Cresskill, Demarest, Haworth, and Closter. With rising interest rates at 7%, many are curious about how they impact our local market. Here’s what you need to know.
Current Market Conditions
Despite the national trends indicating a slowdown, the real estate market in Eastern Bergen County remains robust. Here are some key insights:
Low Supply: The inventory of homes for sale is still significantly low. In Tenafly, for instance, we are experiencing only 1.27 months of inventory, which highlights the competitive nature of the market.
Rising Property Values: Year-over-year data shows that median estimated values are on the rise: Tenafly has seen an increase of 8.5%, Cresskill 10%, and Demarest 13%. This increase in value signifies that buyers are still keen on investing in these desirable areas.
Seller's Market: With months of supply under four, we are firmly in a seller's market. Homes are selling close to their listing prices, with Tenafly averaging around 99.5% of the asking price.
Town-Specific Insights
Tenafly
Tenafly continues to thrive as a highly sought-after community. The current market reflects strong demand, with homes selling quickly and values on the rise. As we approach the seasonal inventory increase starting in late February, we expect to see more listings come onto the market, potentially impacting the supply dynamics.
Cresskill
Cresskill's market is also competitive but shows signs of hovering around a more balanced state. Buyer interest remains high, but an influx of inventory could shift this dynamic. It’s crucial to monitor the supply closely in the coming weeks.
Demarest, Haworth, and Closter
These towns are experiencing similar trends. With demand exceeding supply, properties are moving quickly, and sellers are in control. The unique characteristics of each community continue to attract buyers looking for specific amenities and lifestyles.
What’s Next?
As we transition into spring, the market typically sees an uptick in available inventory. Historically, this trend peaks around May, making it essential for buyers to stay informed and act quickly. If you’re considering buying or selling, now is the time to get involved.
Exclusive Listings
For homeowners thinking about upgrading or downsizing, we have some exciting off-market opportunities on the horizon. Reach out to the Stacy Esser Group for exclusive access to these listings and to get a jumpstart on your real estate journey.
Conclusion
The Eastern Bergen County real estate market is resilient, even in the face of rising interest rates. With low inventory and increasing property values, it's a great time for both buyers and sellers. Stay informed, and don’t hesitate to contact us for personalized advice and insights.
For more information about the real estate market, exclusive listings, or any questions you might have, feel free to reach out to the Stacy Esser Group. We’re here to help you navigate this exciting market!
