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For Northern NJ | April, 2025
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More Market Updates in Your Area!
North Jersey Home Prices Keep Rising | What Buyers & Sellers Need to Know in April 2025
North Jersey Home Prices Keep Rising | What Buyers & Sellers Need to Know in April 2025
Are Mortgage Rates and Global Tariffs About to Price You Out — or Help You Win?
Let’s break down what’s happening in this month’s real estate market and what it means for your next move.
Tariffs and Inflation — What’s the Connection?
When tariffs are imposed on goods like steel, lumber, and international building materials, it increases costs across the board. That added cost fuels inflation, which affects everything from construction to shipping. When inflation stays high, the Federal Reserve delays cutting interest rates—keeping mortgage rates elevated.
As of March 2025, mortgage rates are hovering around 6.6 percent. That’s lower than the 2023 highs but still high enough to impact affordability and buyer confidence.
Local Market Snapshot: North Jersey
While national trends are mixed, the North Jersey market continues to show strong performance:
Hackensack: Prices up over 13 percent year-over-year, with a median home value above $650,000
Hawthorne: Up nearly 11 percent, approaching $620,000; homes selling about 5.4 percent over asking
Clifton: Home values up about 10 percent, averaging $621,000; selling 6 percent over list price
Wayne: Leading the region with an average sale price just under $795,000
Fair Lawn and Teaneck: Gains of almost 5 percent in both towns
Fair Lawn was particularly competitive last month, with homes selling 8.8 percent over asking
What’s Driving This?
One word: scarcity.
With less than two months of inventory in these areas, buyer demand continues to outpace supply. This keeps sellers in control and creates strong competition for buyers—even with higher mortgage rates.
Next Steps
If you're planning a move, strategy matters more than ever. Text or DM Market Plan to schedule your complimentary strategy session. We’ll go over your goals, the numbers, financing options, and timing to help you make a smart move—regardless of the headlines.
Looking forward to connecting soon.
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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
North Jersey Home Prices Keep Rising | What Buyers & Sellers Need to Know in April 2025
North Jersey Home Prices Keep Rising | What Buyers & Sellers Need to Know in April 2025
Are Mortgage Rates and Global Tariffs About to Price You Out — or Help You Win?
Let’s break down what’s happening in this month’s real estate market and what it means for your next move.
Tariffs and Inflation — What’s the Connection?
When tariffs are imposed on goods like steel, lumber, and international building materials, it increases costs across the board. That added cost fuels inflation, which affects everything from construction to shipping. When inflation stays high, the Federal Reserve delays cutting interest rates—keeping mortgage rates elevated.
As of March 2025, mortgage rates are hovering around 6.6 percent. That’s lower than the 2023 highs but still high enough to impact affordability and buyer confidence.
Local Market Snapshot: North Jersey
While national trends are mixed, the North Jersey market continues to show strong performance:
Hackensack: Prices up over 13 percent year-over-year, with a median home value above $650,000
Hawthorne: Up nearly 11 percent, approaching $620,000; homes selling about 5.4 percent over asking
Clifton: Home values up about 10 percent, averaging $621,000; selling 6 percent over list price
Wayne: Leading the region with an average sale price just under $795,000
Fair Lawn and Teaneck: Gains of almost 5 percent in both towns
Fair Lawn was particularly competitive last month, with homes selling 8.8 percent over asking
What’s Driving This?
One word: scarcity.
With less than two months of inventory in these areas, buyer demand continues to outpace supply. This keeps sellers in control and creates strong competition for buyers—even with higher mortgage rates.
Next Steps
If you're planning a move, strategy matters more than ever. Text or DM Market Plan to schedule your complimentary strategy session. We’ll go over your goals, the numbers, financing options, and timing to help you make a smart move—regardless of the headlines.
Looking forward to connecting soon.
