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For Northern NJ | May, 2025
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Is Tenafly Still a Hot Seller’s Market? Here’s What You Need to Know!
Tenafly Real Estate Market Update: May 2025 – A Seller's Dream Market
As economic headlines buzz with interest rate changes, market uncertainty, and global shifts, one question keeps coming up: What’s really happening in our local Bergen County real estate market?
Let’s dive into the data and take a closer look at what’s happening specifically in Tenafly, NJ and the surrounding core towns. If you're curious about your specific town, feel free to reach out — we’re always here to break it down for you!
Bergen County Real Estate: Median Home Values Are Climbing
We’re still seeing strong year-over-year growth in median estimated home values across the area. From Tenafly to Closter, Cresskill, and Englewood, property values are trending up. Despite broader economic concerns, local housing prices are holding steady and rising.
Buyers: It’s a challenging time to find affordable homes.
Sellers: The market remains in your favor, with values appreciating and inventory still tight.
Why “Months of Supply” Is the Key Metric in Bergen County Housing?
If you follow me monthly on YouTube or here on the blog, you know I’m always watching one number closely: months of supply. This data point combines both buyer demand and available inventory, giving us a powerful “barometer” of real market activity.
Current months of supply: 2.34
This means that if no new homes came to the market, we would completely sell out in just over two months — a clear sign of strong buyer demand and limited inventory.
Tenafly Real Estate: 20.7% Jump in Estimated Property Values
Right now, Tenafly’s median estimated property value is up 20.7% year-over-year — a significant growth figure, especially in a period of economic noise. Even with interest rate shifts and fluctuating confidence, the market here is showing strength.
Median List Price: $2.2M+
Luxury Inventory Dominates: There are very few homes available under $2.5M, let alone entry-level price points.
Median Days on Market: Just 15 days — homes are flying off the shelves.
Tenafly Homes Are Selling Above List Price
The average sale-to-list price ratio in Tenafly is 101.22%, meaning homes are, on average, selling above asking. If a home is sitting longer than the 15-day median, expect a price adjustment — but most are selling quickly and at strong prices.
Luxury Inventory High, Entry-Level Inventory Low
Tenafly is facing a significant imbalance: a surplus of luxury homes and a scarcity of homes under $2.5 million. This makes it tough for entry-level buyers, but it also represents a huge opportunity for sellers with well-positioned homes under that threshold.
Is Now a Good Time to Sell in Tenafly or Bergen County? Yes.
With demand high, inventory tight, and home values appreciating, now is an ideal time to sell in Tenafly or nearby towns like Alpine, Demarest, Englewood, and Cresskill.
Even if you're not ready to list, it's a great time to strategize and make smart improvements that will pay off when the time is right.
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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
Is Tenafly Still a Hot Seller’s Market? Here’s What You Need to Know!
Tenafly Real Estate Market Update: May 2025 – A Seller's Dream Market
As economic headlines buzz with interest rate changes, market uncertainty, and global shifts, one question keeps coming up: What’s really happening in our local Bergen County real estate market?
Let’s dive into the data and take a closer look at what’s happening specifically in Tenafly, NJ and the surrounding core towns. If you're curious about your specific town, feel free to reach out — we’re always here to break it down for you!
Bergen County Real Estate: Median Home Values Are Climbing
We’re still seeing strong year-over-year growth in median estimated home values across the area. From Tenafly to Closter, Cresskill, and Englewood, property values are trending up. Despite broader economic concerns, local housing prices are holding steady and rising.
Buyers: It’s a challenging time to find affordable homes.
Sellers: The market remains in your favor, with values appreciating and inventory still tight.
Why “Months of Supply” Is the Key Metric in Bergen County Housing?
If you follow me monthly on YouTube or here on the blog, you know I’m always watching one number closely: months of supply. This data point combines both buyer demand and available inventory, giving us a powerful “barometer” of real market activity.
Current months of supply: 2.34
This means that if no new homes came to the market, we would completely sell out in just over two months — a clear sign of strong buyer demand and limited inventory.
Tenafly Real Estate: 20.7% Jump in Estimated Property Values
Right now, Tenafly’s median estimated property value is up 20.7% year-over-year — a significant growth figure, especially in a period of economic noise. Even with interest rate shifts and fluctuating confidence, the market here is showing strength.
Median List Price: $2.2M+
Luxury Inventory Dominates: There are very few homes available under $2.5M, let alone entry-level price points.
Median Days on Market: Just 15 days — homes are flying off the shelves.
Tenafly Homes Are Selling Above List Price
The average sale-to-list price ratio in Tenafly is 101.22%, meaning homes are, on average, selling above asking. If a home is sitting longer than the 15-day median, expect a price adjustment — but most are selling quickly and at strong prices.
Luxury Inventory High, Entry-Level Inventory Low
Tenafly is facing a significant imbalance: a surplus of luxury homes and a scarcity of homes under $2.5 million. This makes it tough for entry-level buyers, but it also represents a huge opportunity for sellers with well-positioned homes under that threshold.
Is Now a Good Time to Sell in Tenafly or Bergen County? Yes.
With demand high, inventory tight, and home values appreciating, now is an ideal time to sell in Tenafly or nearby towns like Alpine, Demarest, Englewood, and Cresskill.
Even if you're not ready to list, it's a great time to strategize and make smart improvements that will pay off when the time is right.
