Tenafly NJ Real Estate Market Update: Home Prices Continue to Soar!

The Eastern Bergen County real estate market is defying national trends, and Tenafly NJ real estate continues to thrive in 2025. In this month’s market update, we’re breaking down everything you need to know about home values, inventory, buyer vs. seller dynamics, and pricing trends plus, stay tuned for details on our exciting new community contest!

Tenafly NJ Home Values Continue to Rise

The median estimated home values in Tenafly and surrounding Bergen County towns are all showing strong growth. In fact, while many national markets are seeing cooling trends, Tenafly home prices keep climbing, making it one of the hottest real estate markets in New Jersey.

Inventory remains tight, which is a major reason why prices remain elevated. Sellers are benefiting from strong buyer demand and limited competition, while buyers are facing increasing prices as they try to secure homes before values climb even higher.

Strong Seller’s Market Dominates Tenafly Real Estate

When it comes to supply and demand, Tenafly remains a solid seller’s market. Currently, there are only 2.4 months of housing inventory available, well below the balanced market threshold of 4 to 5 months. This low inventory continues to create upward pressure on prices.

Even though there has been a slight uptick in expired listings and some price adjustments (primarily in the luxury market), the percentage of price drops remains minimal compared to normal levels. Tenafly home sellers continue to have significant leverage in negotiations.

Why Inventory Remains Low in Bergen County NJ?

One of the biggest challenges for the Bergen County housing market is a lack of new inventory. Unlike other areas, Tenafly NJ has limited land for new construction, making it difficult to build additional housing and meet buyer demand.

Additionally, many current homeowners are sitting on historically low mortgage rates, making them hesitant to list their homes even when they have built significant equity. This cycle further restricts inventory and keeps the market highly competitive.

Buyer vs. Seller Dynamics in Tenafly NJ

• Sellers: Benefit from low competition and rising home values. If you’ve been thinking of selling, 2025 continues to present excellent opportunities.

• Buyers: Waiting may not be a successful strategy. Tenafly home prices are increasing, and limited inventory means fewer choices and higher competition.

Median Sale Prices & List Prices Are Increasing

In Tenafly NJ, both the median sale price and list price are trending upward. This indicates that even as sellers price their homes higher, buyers are still willing to meet those prices in order to secure a property in this desirable area.

If you're in a “wait and see” mode as a buyer, it may be time to reconsider. The market has not shown signs of softening yet, and waiting could cost more in the long run.

Join Our Tenafly NJ Community Contest: Grill Snap & Win!

To add a little fun to the summer market season, we’ve launched our "Grill Snap & Win" BBQ Photo Contest!

How to Enter:

• Post your favorite BBQ photo on Instagram or Facebook.

• Tag us: @stacyessergroup

• You’ll receive a DM with your entry code.

• Enter as many times as you like!

The winner will receive a 6-month BBQ kit delivered right to your door! The contest runs through July 31st, and all participants must be Tenafly residents. We can't wait to see your best barbecue moments!

What’s Next for Tenafly Real Estate in 2025?

While many areas across the country are starting to feel the effects of increased inventory and changing buyer sentiment, Tenafly remains resilient. As long as inventory remains low and demand stays strong, home prices are expected to stay elevated.

We will continue monitoring the market closely to provide the most up-to-date insights.