Don't miss out on local tips, events and market insights.
CLICK PLAY FOR YOUR LATEST MARKET UPDATE
For Northern NJ | December, 2024
Hope you got value from our market update. If you ever want the specifics for your neighborhood, send us an email and we'll share the data with you.
More Market Updates in Your Area!
2024 in Oradell/Central Bergen County
Real Estate Market Update across Oradell/Central Bergen County
2024 in Tenafly/Eastern Bergen County
Real Estate Market Update across Tenafly/Eastern Bergen County
Oradell Real Estate Update For December
Oradell & Central Bergen County Real Estate Market Update: December Highlights
The Bergen County real estate market continues to thrive, with homes selling quickly and often above their list prices. In this month’s update, Kelly Weber of Keller Williams highlights the latest trends in six prominent towns: Oradell, River Edge, Emerson, New Milford, Bergenfield, and Dumont. The data reveals robust demand, rising property values, and a unique market environment compared to much of the country.
A Thriving Housing Market
Central Bergen County’s housing market stands out for its strong year-over-year growth in home values. Towns like Bergenfield and Dumont are seeing double-digit appreciation, while others, including Oradell and New Milford, maintain steady upward trends. This indicates that demand remains strong despite broader economic uncertainties.
Homes are selling at or above their list prices in all six towns, a clear sign of a competitive market. Properties typically attract multiple offers, with buyers eager to secure a home in the area.
Low Inventory Fuels Demand
The inventory of available homes in Bergen County is exceptionally low, making it a prime market for sellers. Several towns, including Oradell, Emerson, and Dumont, have less than one month of housing supply, meaning most homes sell within weeks of being listed. Even towns with slightly higher inventories, like Bergenfield, still reflect strong demand with only a two-month supply.
This low supply, paired with high buyer interest, has created an environment where homes often sell faster and for higher prices than expected.
Oradell: A Case Study in Growth
This month, Oradell takes center stage in the market analysis. The town has experienced significant increases in key metrics over the past year. The number of homes sold rose modestly, but the real standout is the rise in the median home price, which jumped by over 32%. This substantial growth has pushed the median sale price close to $958,000, a notable increase from $728,000 the previous year.
Oradell’s dollar volume of sold homes also surged by 35%, reflecting the town’s desirability and the willingness of buyers to pay a premium for properties in this area.
What Sets Bergen County Apart?
While many parts of the country are experiencing a slowdown in the real estate market, Bergen County remains an exception. Several factors contribute to this unique position:
Location: Proximity to New York City makes Bergen County a desirable area for professionals and families.
Community Appeal: Excellent schools, recreational opportunities, and strong community ties attract buyers.
Limited Inventory: Fewer homes on the market mean higher competition and faster sales.
Strong Economy: The region benefits from a stable job market and consistent demand for housing.
These factors combine to create a thriving real estate environment that bucks national trends.
Frequently Asked Questions About Bergen County's Real Estate Market
1. Why are homes selling above list prices in Bergen County?
The high demand and limited inventory drive competition among buyers, leading to offers at or above the asking price in many cases.
2. How does Bergen County’s market compare to the rest of the country?
While many parts of the U.S. are experiencing a real estate slowdown, Bergen County remains strong due to its desirable location, strong demand, and tight inventory.
3. What’s causing such rapid price appreciation?
Factors such as low inventory, strong demand, and the region’s proximity to New York City contribute to rising property values.
4. How long does it take to sell a home in Bergen County?
In most towns, homes sell within one to two months. In places like Oradell and Emerson, homes often sell in less than a month.
5. Are certain towns more competitive than others?
Yes, towns like Oradell, Dumont, and Emerson currently have the lowest inventory levels, making them some of the most competitive markets in Bergen County.
6. What’s driving demand in this region?
The combination of excellent schools, community amenities, and a strong local economy makes Bergen County a sought-after location for buyers.
Real Estate Market Key Takeaways
The Bergen County real estate market remains one of the most robust in the country, characterized by low inventory, rising home values, and strong demand. Sellers are in a prime position to benefit from the competitive market, while buyers need to act quickly to secure a property. Towns like Oradell and Bergenfield exemplify the growth and vitality of the region, making Bergen County a standout market in today’s real estate landscape.
⬇️Get access to Privately Listed Homes For Sale ⬇️
Many sellers choose to list their homes privately before they go public. We have access to 45+ homes for sale in our office exclusives. Don't miss out on the home of your dreams because someone else saw it first. Get access!
Hurry, these spectacular homes go fast!
100% Secure. We value your privacy.
By submitting your email and phone number in the forms on our site, you give
consent to receiving occasional emails and SMS text messages about offers,
or other information, from us.
what's happening around town!
Latest around Northern NJ
Buyers Locked Out of Market
Featured on CBS Mornings, The Buyer struggle across Bergen, Passaic and Hudson County
5 Reasons NOT to Move to Northern NJ in 2024
We'll discuss 5 important factors to consider before making the move to Northern NJ!
Don't Sell Until You Watch this!
Learn 3 Simple ways to know it's time to sell your home! And spoiler alert - it's not the most obvious!
Sell Your Home for Top Dollar in Northern NJ!
How to sell your home for the most money as featured on NBC Today
Upgrading Your Home? Don't do this!
Planning to upgrade your home? 🏠 Before you dive in, make sure to avoid these common mistakes that could negatively impact your home's value!
What you need to know about NAR!
If you are buying in NJ, this video will share exactly what you need to know about hiring a buyers agent!
Top Appreciating Towns
Top 3 Local Event Picks
What's Happening This Month in Northern NJ!
Get our Free Guide to
"Value-Up™ Your Home"
Our Value-Up™ Your Home eBook Was Written To
Give You A Better Understanding of how to transform your home's value in Northern NJ! Get Yours FREE today!
Available for a limited time!
I agree to terms & conditions provided by SEG KW Town Life. By providing my email and phone number, I agree to receive messages from SEG KW Town Life.
Buying or Selling in Northern NJ? Don't miss out on our latest Fall SEGInsider - A full guide to the housing market in Northern NJ.
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 Real Estate Update For December
Oradell & Central Bergen County Real Estate Market Update: December Highlights
The Bergen County real estate market continues to thrive, with homes selling quickly and often above their list prices. In this month’s update, Kelly Weber of Keller Williams highlights the latest trends in six prominent towns: Oradell, River Edge, Emerson, New Milford, Bergenfield, and Dumont. The data reveals robust demand, rising property values, and a unique market environment compared to much of the country.
A Thriving Housing Market
Central Bergen County’s housing market stands out for its strong year-over-year growth in home values. Towns like Bergenfield and Dumont are seeing double-digit appreciation, while others, including Oradell and New Milford, maintain steady upward trends. This indicates that demand remains strong despite broader economic uncertainties.
Homes are selling at or above their list prices in all six towns, a clear sign of a competitive market. Properties typically attract multiple offers, with buyers eager to secure a home in the area.
Low Inventory Fuels Demand
The inventory of available homes in Bergen County is exceptionally low, making it a prime market for sellers. Several towns, including Oradell, Emerson, and Dumont, have less than one month of housing supply, meaning most homes sell within weeks of being listed. Even towns with slightly higher inventories, like Bergenfield, still reflect strong demand with only a two-month supply.
This low supply, paired with high buyer interest, has created an environment where homes often sell faster and for higher prices than expected.
Oradell: A Case Study in Growth
This month, Oradell takes center stage in the market analysis. The town has experienced significant increases in key metrics over the past year. The number of homes sold rose modestly, but the real standout is the rise in the median home price, which jumped by over 32%. This substantial growth has pushed the median sale price close to $958,000, a notable increase from $728,000 the previous year.
Oradell’s dollar volume of sold homes also surged by 35%, reflecting the town’s desirability and the willingness of buyers to pay a premium for properties in this area.
What Sets Bergen County Apart?
While many parts of the country are experiencing a slowdown in the real estate market, Bergen County remains an exception. Several factors contribute to this unique position:
Location: Proximity to New York City makes Bergen County a desirable area for professionals and families.
Community Appeal: Excellent schools, recreational opportunities, and strong community ties attract buyers.
Limited Inventory: Fewer homes on the market mean higher competition and faster sales.
Strong Economy: The region benefits from a stable job market and consistent demand for housing.
These factors combine to create a thriving real estate environment that bucks national trends.
Frequently Asked Questions About Bergen County's Real Estate Market
1. Why are homes selling above list prices in Bergen County?
The high demand and limited inventory drive competition among buyers, leading to offers at or above the asking price in many cases.
2. How does Bergen County’s market compare to the rest of the country?
While many parts of the U.S. are experiencing a real estate slowdown, Bergen County remains strong due to its desirable location, strong demand, and tight inventory.
3. What’s causing such rapid price appreciation?
Factors such as low inventory, strong demand, and the region’s proximity to New York City contribute to rising property values.
4. How long does it take to sell a home in Bergen County?
In most towns, homes sell within one to two months. In places like Oradell and Emerson, homes often sell in less than a month.
5. Are certain towns more competitive than others?
Yes, towns like Oradell, Dumont, and Emerson currently have the lowest inventory levels, making them some of the most competitive markets in Bergen County.
6. What’s driving demand in this region?
The combination of excellent schools, community amenities, and a strong local economy makes Bergen County a sought-after location for buyers.
Real Estate Market Key Takeaways
The Bergen County real estate market remains one of the most robust in the country, characterized by low inventory, rising home values, and strong demand. Sellers are in a prime position to benefit from the competitive market, while buyers need to act quickly to secure a property. Towns like Oradell and Bergenfield exemplify the growth and vitality of the region, making Bergen County a standout market in today’s real estate landscape.
