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For Northern NJ | March, 2025
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Oradell/Central Bergen County Real Estate Update For February
Oradell & Central Bergen County Real Estate Market Update: February Highlights
Central Bergen County Real Estate Market Update: March 2025
Welcome to this month’s real estate market update for Central Bergen County! Whether you're a homeowner contemplating selling or a potential buyer navigating the market, understanding the current trends is crucial. Let’s dive into the latest statistics and insights that shape our local real estate landscape.
Inventory Challenges and Seller's Market
The question on everyone's mind is, "When will we see more inventory in the market?" Unfortunately, the answer remains elusive. Active listings are down, creating a supply shortage that heavily favors sellers. If you’re considering selling your home, now might be the perfect time to act.
Key Market Insights:
Median Estimated Values: Across all towns in Central Bergen County, median estimated property values have seen significant year-over-year growth. This trend indicates a robust market for sellers.
Months of Supply: The months of inventory available is alarmingly low. For instance, in towns like Oradell and River Edge, we are experiencing an extreme shortage, making it a prime time for sellers to capitalize on increased demand.
Town-by-Town Breakdown
Oradell
Median Sold Price: Up 25.51%
Sold to List Price: Increased by almost 10%
Median Days on Market: Down 23.53%
River Edge
Median Sold Price: Surged by 43.36%
Sold to List Price: Slightly decreased, but still competitive
Median Days on Market: Notably up by 562.5%, warranting further investigation
Emerson
Median Estimated Value: Just shy of $770,000, reflecting a 1.4% increase month-over-month.
New Milford
Months of Inventory: Just under two months, which is higher than other towns.
Median Sold Price: Decreased by nearly 13%, suggesting a unique market condition that may require closer analysis.
Bergenfield
Months of Inventory: Low, indicating strong buyer competition.
Sold to List Price: Increased by 3.25%
Median Days on Market: Up by 49%, suggesting quicker sales despite rising days
Median Sold Price: Increased by 4.55%
Dumont
Sold to List Price: Up by 0.36%
Median Days on Market: Down nearly 35%, indicating faster sales
Median Sold Price: Slightly decreased by over 6.5% month-over-month
What This Means for Sellers
The current market dynamics clearly indicate that we are experiencing a seller's market. With demand outpacing supply, sellers have the upper hand. If you've been contemplating whether now is the right time to sell, the data suggests a resounding "yes."
Maximize Your Home's Value
Spring is traditionally the hottest time for real estate, making it an ideal moment to list your home. If you’re ready to take the next step, I invite you to schedule a strategy session. Together, we can explore how to maximize your home’s value and attract multiple offers above the asking price.
Conclusion
In summary, Central Bergen County's real estate market is thriving, with significant price increases and low inventory levels. Whether you're a seller looking to capitalize on the current market or a buyer hoping to navigate these challenging conditions, having a knowledgeable agent by your side is crucial.
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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
Oradell/Central Bergen County Real Estate Update For February
Oradell & Central Bergen County Real Estate Market Update: February Highlights
Central Bergen County Real Estate Market Update: March 2025
Welcome to this month’s real estate market update for Central Bergen County! Whether you're a homeowner contemplating selling or a potential buyer navigating the market, understanding the current trends is crucial. Let’s dive into the latest statistics and insights that shape our local real estate landscape.
Inventory Challenges and Seller's Market
The question on everyone's mind is, "When will we see more inventory in the market?" Unfortunately, the answer remains elusive. Active listings are down, creating a supply shortage that heavily favors sellers. If you’re considering selling your home, now might be the perfect time to act.
Key Market Insights:
Median Estimated Values: Across all towns in Central Bergen County, median estimated property values have seen significant year-over-year growth. This trend indicates a robust market for sellers.
Months of Supply: The months of inventory available is alarmingly low. For instance, in towns like Oradell and River Edge, we are experiencing an extreme shortage, making it a prime time for sellers to capitalize on increased demand.
Town-by-Town Breakdown
Oradell
Median Sold Price: Up 25.51%
Sold to List Price: Increased by almost 10%
Median Days on Market: Down 23.53%
River Edge
Median Sold Price: Surged by 43.36%
Sold to List Price: Slightly decreased, but still competitive
Median Days on Market: Notably up by 562.5%, warranting further investigation
Emerson
Median Estimated Value: Just shy of $770,000, reflecting a 1.4% increase month-over-month.
New Milford
Months of Inventory: Just under two months, which is higher than other towns.
Median Sold Price: Decreased by nearly 13%, suggesting a unique market condition that may require closer analysis.
Bergenfield
Months of Inventory: Low, indicating strong buyer competition.
Sold to List Price: Increased by 3.25%
Median Days on Market: Up by 49%, suggesting quicker sales despite rising days
Median Sold Price: Increased by 4.55%
Dumont
Sold to List Price: Up by 0.36%
Median Days on Market: Down nearly 35%, indicating faster sales
Median Sold Price: Slightly decreased by over 6.5% month-over-month
What This Means for Sellers
The current market dynamics clearly indicate that we are experiencing a seller's market. With demand outpacing supply, sellers have the upper hand. If you've been contemplating whether now is the right time to sell, the data suggests a resounding "yes."
Maximize Your Home's Value
Spring is traditionally the hottest time for real estate, making it an ideal moment to list your home. If you’re ready to take the next step, I invite you to schedule a strategy session. Together, we can explore how to maximize your home’s value and attract multiple offers above the asking price.
Conclusion
In summary, Central Bergen County's real estate market is thriving, with significant price increases and low inventory levels. Whether you're a seller looking to capitalize on the current market or a buyer hoping to navigate these challenging conditions, having a knowledgeable agent by your side is crucial.
