Tenafly Real Estate Market Update: Are We Seeing a Shift?

The Tenafly real estate market is showing strong numbers — but there are early signs of change that buyers and sellers should pay close attention to. While homes are still selling and median prices continue to rise, inventory challenges and longer days on market hint that the cycle may be shifting as we move into fall.

Tenafly Real Estate Inventory is at Historic Lows

One of the biggest factors shaping the Tenafly housing market is inventory. Looking back from 2015 through 2025, active listings in Tenafly have dropped dramatically.

• Pre-2019, Tenafly typically had 60–100 active listings in July.

• Post-COVID, that number has plummeted, hovering at historic lows.

• Fewer homes on the market means more competition and higher prices.

At the same time, new listings — the number of homes hitting the market from January through July — are far lower than Tenafly’s historic average of 250–300. This lack of supply is one of the main reasons home prices remain so strong.

Median Home Prices in Tenafly Remain Strong

As active and new listings declined, median home prices in Tenafly steadily climbed.

Buyers are still willing to pay a premium, but the first hints of change are appearing. If buyers begin to step back either due to affordability or seller overpricing, we could see pressure on pricing in the months ahead.

Interest Rates and Buyer Behavior in Tenafly

While interest rates remain higher than in recent years, they’ve become the “new normal” for buyers. We no longer hear the same resistance to rates — but they still play a critical role in seller motivation.

Many Tenafly homeowners are sitting on very low mortgage rates. Unless they can get top dollar for their home or rates drop enough to make moving attractive, sellers are staying put. This is contributing to the tight inventory across Bergen County.

Days on Market Are Rising — A Subtle Shift

Another sign of change in the Tenafly real estate market is days on market (DOM).

• Homes that once sold in 2 weeks are now taking closer to 4 weeks.

• While bidding wars still happen, they’re not as frequent or as aggressive.

• DOM is climbing, showing that buyers are being more selective.

This doesn’t mean prices are falling, but it’s a signal that the pace of the market is cooling.

What Tenafly Sellers Need to Know

Even in this competitive market, not all homes perform the same. The properties still commanding multiple offers and top dollar are:

• Turnkey homes that are move-in ready

• Well-maintained properties with smart upgrades

• Homes priced realistically for today’s buyer pool

If you’re considering selling, investing in the right improvements can help you maximize value. Working with an experienced Tenafly realtor ensures you don’t spend money on updates that won’t bring a return.

Market Outlook for Fall 2025

The next major shift in the Tenafly housing market will likely come mid-September through October. If mortgage rates dip, expect more buyer activity and possibly another surge in home prices.

For now, the market remains strong — but smart sellers are preparing now for the next wave of demand.