Bergen County Real Estate Market Update: What the Latest Trends Mean for Buyers and Sellers

The Bergen County real estate market continues to outperform expectations, but not every town is telling the same story. While inventory remains tight across much of the county, local market conditions are creating unique opportunities depending on where you live.

Understanding these differences is critical whether you're thinking about buying, selling, or simply keeping an eye on your home's value. Here's a closer look at what we're seeing across five key Bergen County markets.

Tenafly Continues to Lead with Strong Appreciation

Tenafly remains one of Bergen County's strongest seller's markets.

Homes are selling quickly, inventory remains extremely limited, and values continue to rise. One of the biggest drivers behind this trend is new construction. As land values continue to increase, builders are paying more for lots, which pushes new construction prices higher. In turn, resale home values follow.

For current homeowners, this is excellent news. Rising new construction prices create a ripple effect that strengthens equity throughout the market, even for existing homes.

Demarest Remains Exceptionally Competitive

Much like Tenafly, Demarest continues to experience a very tight housing market.

With approximately two months of inventory, well-priced homes are selling quickly and attracting strong buyer interest. However, low inventory doesn't mean every home sells regardless of price.

Today's buyers remain sophisticated. Homes that are priced correctly and marketed effectively continue to perform exceptionally well, while overpriced properties are more likely to sit on the market or be withdrawn altogether.

Oradell Is One of Bergen County's Hottest Markets

Oradell has become one of the fastest-moving markets in Northern New Jersey.

Homes are going under contract in as little as 16 days and are selling, on average, well above asking price. This reflects both strong buyer demand and the growing popularity of strategic pricing, where homes are intentionally listed below estimated market value to generate multiple offers and maximize the final sale price.

The strategy continues to produce outstanding results in competitive markets like Oradell.

Hackensack Offers a More Balanced Market

Unlike many surrounding communities, Hackensack's condominium market is experiencing more balanced conditions.

An increase in available inventory, along with a significant amount of new development and rental competition, has created a market where buyers have more choices and greater negotiating power.

For sellers, this means pricing and marketing have become more important than ever. Professional photography, targeted digital marketing, and strategic pricing can make all the difference in standing out from competing listings.

Cresskill Is Showing Signs of Change

Perhaps the most interesting story this month comes from Cresskill.

While many homes are still selling above asking price, inventory has increased, signaling a gradual shift toward a more balanced market.

However, the data requires a closer look.

Much of the increased inventory exists in the luxury price points, where larger homes often require significant renovations and carry substantial property taxes. Those factors are naturally narrowing the buyer pool.

For homeowners, this highlights an important point: county-wide statistics don't always tell the full story. Market conditions can vary dramatically depending on price range, property type, and neighborhood. That's why hyper-local analysis is essential when making real estate decisions.

The Takeaway

One of the biggest misconceptions in real estate is that the entire market moves together.

In reality, every town, neighborhood, and price point behaves differently. While Tenafly, Demarest, and Oradell continue to experience strong seller conditions, Hackensack offers more balance, and Cresskill is beginning to show signs of increased inventory at certain price points.

Whether you're considering buying, selling, investing, or simply curious about your home's value, understanding your specific market is far more valuable than relying on broad national headlines.

At the Stacy Esser Group, we analyze market trends every day to help our clients make informed decisions backed by local expertise and real data.

If you're wondering what your home is worth or how today's market conditions affect your plans, we'd be happy to provide a personalized market analysis and discuss the opportunities available in your neighborhood.

Thinking about making a move? Contact the Stacy Esser Group today for a complimentary consultation and customized market analysis. Call or text 201-292-0011 to reach Stacy!