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For Northern NJ | April, 2025
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More Market Updates in Your Area!
How Inventory Shortages Are Keeping Bergen County Prices Climbing
Northern Valley Real Estate Update: Why Low Inventory Keeps Prices High
If you've been following the Northern Valley real estate market—especially in towns like Demarest, Tenafly, Closter, and Haworth—you’ve probably noticed a recurring theme: a major lack of inventory.
And if you haven’t heard yet, let me be the first to tell you: We are still very much in a seller’s market.
Crestgill Approaching a Balanced Market—But It’s the Exception
Right now, Crestgill is the only town coming close to a “balanced market,” with 3.77 months of inventory. A balanced market is typically around 4 to 6 months of inventory, where buyer and seller leverage are relatively equal.
But here’s the catch—every other town in our local area is well below that, meaning the market heavily favors sellers. Take a look:
Haworth: Low inventory
Closter: Strong seller’s market
Demarest: Only 2 months of supply
Tenafly: Continues to benefit sellers
This lack of homes on the market means strong competition for buyers and continued price strength for sellers.
Deep Dive: What’s Happening in Demarest?
Let’s zoom in on Demarest, where inventory levels have fluctuated, but demand has remained consistent.
Current Months of Supply: 2 months
Monthly Change: +92% (a sharp jump, but driven by extremely low numbers previously)
12-Month Change: -6.6%
Back in May 2024, Demarest had about 4 months of inventory, and that number has dropped significantly since—reflecting ongoing buyer demand and low home availability.
What’s Driving Prices Right Now?
There’s been a lot of buzz about interest rates, tariffs, and even national housing policies—but what we’re seeing on the ground tells a clearer story:
Interest rates around 6–7% are influencing both buyers and sellers.
Sellers who locked in a 3% mortgage are understandably reluctant to sell, which limits available inventory.
Buyer activity remains strong—even with higher borrowing costs.
What does this mean? As long as demand stays steady and inventory remains low, prices will stay strong or continue to rise.
The Local Reality: This Isn't a National Trend
Don’t be swayed by national headlines talking about rising inventory and cooling markets. That’s not the reality here in Bergen County.
We’re seeing open houses with 30+ people in attendance, multiple offers, and bidding wars. And remember—only one person gets the house. That leaves dozens of buyers still in the market, eager for the next opportunity.
Advice for Sellers: Maximize Your Home’s Value
If you’re thinking about selling in Demarest, Tenafly, Closter, or anywhere in Northern Valley, now is an excellent time—but strategy matters.
Here’s what I tell my clients:
Some improvements pay off—some don’t. Let’s talk before you spend.
Prepping your home strategically helps you stand out and attract top-dollar offers.
Get ahead of the market—those who do are selling faster and for more.
Final Thoughts
As we continue into the spring and summer selling seasons, I’ll keep you updated on market shifts. But for now, the formula is clear: low inventory + steady buyer demand = strong pricing.
If you’re considering selling or just want to plan ahead, I’d love to schedule a complimentary strategy session with you. Let’s talk about your goals, the current market conditions, and how to position your home for success.
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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
How Inventory Shortages Are Keeping Bergen County Prices Climbing
Northern Valley Real Estate Update: Why Low Inventory Keeps Prices High
If you've been following the Northern Valley real estate market—especially in towns like Demarest, Tenafly, Closter, and Haworth—you’ve probably noticed a recurring theme: a major lack of inventory.
And if you haven’t heard yet, let me be the first to tell you: We are still very much in a seller’s market.
Crestgill Approaching a Balanced Market—But It’s the Exception
Right now, Crestgill is the only town coming close to a “balanced market,” with 3.77 months of inventory. A balanced market is typically around 4 to 6 months of inventory, where buyer and seller leverage are relatively equal.
But here’s the catch—every other town in our local area is well below that, meaning the market heavily favors sellers. Take a look:
Haworth: Low inventory
Closter: Strong seller’s market
Demarest: Only 2 months of supply
Tenafly: Continues to benefit sellers
This lack of homes on the market means strong competition for buyers and continued price strength for sellers.
Deep Dive: What’s Happening in Demarest?
Let’s zoom in on Demarest, where inventory levels have fluctuated, but demand has remained consistent.
Current Months of Supply: 2 months
Monthly Change: +92% (a sharp jump, but driven by extremely low numbers previously)
12-Month Change: -6.6%
Back in May 2024, Demarest had about 4 months of inventory, and that number has dropped significantly since—reflecting ongoing buyer demand and low home availability.
What’s Driving Prices Right Now?
There’s been a lot of buzz about interest rates, tariffs, and even national housing policies—but what we’re seeing on the ground tells a clearer story:
Interest rates around 6–7% are influencing both buyers and sellers.
Sellers who locked in a 3% mortgage are understandably reluctant to sell, which limits available inventory.
Buyer activity remains strong—even with higher borrowing costs.
What does this mean? As long as demand stays steady and inventory remains low, prices will stay strong or continue to rise.
The Local Reality: This Isn't a National Trend
Don’t be swayed by national headlines talking about rising inventory and cooling markets. That’s not the reality here in Bergen County.
We’re seeing open houses with 30+ people in attendance, multiple offers, and bidding wars. And remember—only one person gets the house. That leaves dozens of buyers still in the market, eager for the next opportunity.
Advice for Sellers: Maximize Your Home’s Value
If you’re thinking about selling in Demarest, Tenafly, Closter, or anywhere in Northern Valley, now is an excellent time—but strategy matters.
Here’s what I tell my clients:
Some improvements pay off—some don’t. Let’s talk before you spend.
Prepping your home strategically helps you stand out and attract top-dollar offers.
Get ahead of the market—those who do are selling faster and for more.
Final Thoughts
As we continue into the spring and summer selling seasons, I’ll keep you updated on market shifts. But for now, the formula is clear: low inventory + steady buyer demand = strong pricing.
If you’re considering selling or just want to plan ahead, I’d love to schedule a complimentary strategy session with you. Let’s talk about your goals, the current market conditions, and how to position your home for success.
