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For Northern NJ | April, 2025
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Tenafly Real Estate: Why This Market Isn’t Slowing Down | April 2025 Update
Tenafly Real Estate Market Update: April 2025
What’s Happening in the Local Real Estate Market?
It’s the question everyone is asking: What’s going on with our local real estate market? With stock market volatility and interest rates jumping around—above 7%, dipping below 7%, and even briefly hitting the 6% range—it’s natural to wonder how this impacts real estate.
Let’s break it down. We’ll first look at Eastern Bergen County and then zoom in on Tenafly for a detailed, data-backed perspective.
Eastern Bergen County: Still a Strong Seller’s Market
The latest numbers paint a clear picture: Eastern Bergen County is in a very strong seller’s market. Median estimated home values are trending upward, inventory remains low, and months of supply is critically tight—hovering between 1.7 to 2.1 months.
To put it in context, anything under 4 months of supply signals a strong seller’s market. That’s because months of supply reflects how quickly we’re selling homes versus how many are hitting the market. The takeaway? Too few homes, too many buyers.
Tenafly Real Estate Market: April 2025 Snapshot
Tenafly continues to outperform. With just 1.71 months of supply, demand is outpacing supply. While inventory ticked up slightly from the previous month, it’s still nowhere near enough to meet buyer demand.
So, are buyers pulling back? Yes—some are reevaluating their budgets or hitting pause due to uncertainty around stocks or interest rates. But that hasn’t made a dent in the overall strength of the Tenafly market. Demand remains high.
Pricing Trends: What You Need to Know
The sold-to-list price ratio remains strong at 101.7%. While it’s slightly down month-over-month, that still means most homes are selling for over asking.
We’re seeing a strategic pricing trend: homes are being listed below fair market value to drive bidding wars. Buyers—don’t assume the list price reflects the true market value. Often, it’s just the starting point.
Pending sales also don’t always tell the full story. If a home hasn’t closed, it’s hard to gauge its final sale price. Make sure to talk with a local expert (like us!) who can help you understand where those pending homes are likely to land.
Days on Market & Inventory Trends
Median days on market is rising, and here’s why:
New construction homes are being listed before completion, racking up days.
Some sellers are holding out for high prices and are willing to wait.
So while the data shows homes sitting longer, it doesn’t necessarily reflect declining interest—it’s more about strategy and seller mindset.
What About Median Sold Price?
Yes, the month-over-month median sold price dipped slightly, but don’t focus on that. Instead, look at the 12-month change in estimated value—that’s the real indicator of market health.
Since 2008, Tenafly has seen explosive growth:
In 2008, the median estimated home value was $638,000
As of March 2025, it’s $1.332 million
Much of this growth happened post-2021. In just four years, values have skyrocketed—proof that Tenafly real estate continues to be a strong long-term investment.
Advice for Sellers: Price Smart, Prep Right
If you’re thinking of selling:
Price competitively and strategically
Make sure your home is staged, prepped, and marketed well
If needed, adjust quickly—the buyers are out there
An ambitious price isn’t necessarily bad, but be ready to pivot based on feedback. Even with a price adjustment, you’re likely still far ahead in today’s market.
Advice for Buyers: Think Long-Term Value
For buyers, here’s the play: Look for homes with upside. That means great location, great lot, and potential for equity growth. Focus on the long game. This is what I did when I bought my own home, and it’s the advice I give my closest friends and family.
Let’s Talk Strategy
Whether you’re buying, selling, or just trying to understand how to position your home for the future, I’d love to help. I’m Stacey Esser with the Stacey Esser Group, and I’m happy to offer a complimentary strategy session to discuss your goals.
Thanks for reading—be sure to like, subscribe, and comment if you found this helpful!
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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
Tenafly Real Estate: Why This Market Isn’t Slowing Down | April 2025 Update
Tenafly Real Estate Market Update: April 2025
What’s Happening in the Local Real Estate Market?
It’s the question everyone is asking: What’s going on with our local real estate market? With stock market volatility and interest rates jumping around—above 7%, dipping below 7%, and even briefly hitting the 6% range—it’s natural to wonder how this impacts real estate.
Let’s break it down. We’ll first look at Eastern Bergen County and then zoom in on Tenafly for a detailed, data-backed perspective.
Eastern Bergen County: Still a Strong Seller’s Market
The latest numbers paint a clear picture: Eastern Bergen County is in a very strong seller’s market. Median estimated home values are trending upward, inventory remains low, and months of supply is critically tight—hovering between 1.7 to 2.1 months.
To put it in context, anything under 4 months of supply signals a strong seller’s market. That’s because months of supply reflects how quickly we’re selling homes versus how many are hitting the market. The takeaway? Too few homes, too many buyers.
Tenafly Real Estate Market: April 2025 Snapshot
Tenafly continues to outperform. With just 1.71 months of supply, demand is outpacing supply. While inventory ticked up slightly from the previous month, it’s still nowhere near enough to meet buyer demand.
So, are buyers pulling back? Yes—some are reevaluating their budgets or hitting pause due to uncertainty around stocks or interest rates. But that hasn’t made a dent in the overall strength of the Tenafly market. Demand remains high.
Pricing Trends: What You Need to Know
The sold-to-list price ratio remains strong at 101.7%. While it’s slightly down month-over-month, that still means most homes are selling for over asking.
We’re seeing a strategic pricing trend: homes are being listed below fair market value to drive bidding wars. Buyers—don’t assume the list price reflects the true market value. Often, it’s just the starting point.
Pending sales also don’t always tell the full story. If a home hasn’t closed, it’s hard to gauge its final sale price. Make sure to talk with a local expert (like us!) who can help you understand where those pending homes are likely to land.
Days on Market & Inventory Trends
Median days on market is rising, and here’s why:
New construction homes are being listed before completion, racking up days.
Some sellers are holding out for high prices and are willing to wait.
So while the data shows homes sitting longer, it doesn’t necessarily reflect declining interest—it’s more about strategy and seller mindset.
What About Median Sold Price?
Yes, the month-over-month median sold price dipped slightly, but don’t focus on that. Instead, look at the 12-month change in estimated value—that’s the real indicator of market health.
Since 2008, Tenafly has seen explosive growth:
In 2008, the median estimated home value was $638,000
As of March 2025, it’s $1.332 million
Much of this growth happened post-2021. In just four years, values have skyrocketed—proof that Tenafly real estate continues to be a strong long-term investment.
Advice for Sellers: Price Smart, Prep Right
If you’re thinking of selling:
Price competitively and strategically
Make sure your home is staged, prepped, and marketed well
If needed, adjust quickly—the buyers are out there
An ambitious price isn’t necessarily bad, but be ready to pivot based on feedback. Even with a price adjustment, you’re likely still far ahead in today’s market.
Advice for Buyers: Think Long-Term Value
For buyers, here’s the play: Look for homes with upside. That means great location, great lot, and potential for equity growth. Focus on the long game. This is what I did when I bought my own home, and it’s the advice I give my closest friends and family.
Let’s Talk Strategy
Whether you’re buying, selling, or just trying to understand how to position your home for the future, I’d love to help. I’m Stacey Esser with the Stacey Esser Group, and I’m happy to offer a complimentary strategy session to discuss your goals.
Thanks for reading—be sure to like, subscribe, and comment if you found this helpful!
