Buyer vs. Seller Market in Bergen County? Latest Insights for 2025

If you’re asking “How’s the market in Tenafly, Cresskill, Demarest, Haworth, or Closter?” — you’re not alone. Sellers and buyers across Northern Bergen County want clarity: Are homes still selling? Are prices holding? And what’s next for the market as we head into the fourth quarter?

The answer is layered — and that’s where strategy matters. Let’s break down what the latest numbers reveal.

Home Prices in Tenafly, Cresskill, Demarest, Haworth, and Closter Remain Strong

While many parts of the country are seeing flat or declining prices, Northern NJ’s luxury corridor is still experiencing upward movement. In Tenafly, year-to-date prices continue to rise, even as Bergen County overall holds steady. Both list and sold prices are trending up, keeping sellers in a favorable position.

Why Inventory and Mortgage Rates Are Driving the Market

Here’s the reality: fewer homes are hitting the market. New listings are down, which naturally leads to fewer pending and closed sales. This isn’t a demand problem — it’s a supply issue. Buyers want homes, but inventory is tight.

The bigger pressure point? Mortgage rates. With many homeowners locked into rates under 3%, they’re hesitant to sell unless they achieve their number. As rates hover closer to 6% (down from 7% highs earlier this year), we may see more inventory loosen — but affordability remains a challenge for buyers.

Signs of Buyer Pushback: Days on Market and Price Reductions

Even in this strong market, there are early signals of a shift. Homes are sitting longer. More price reductions are showing up. And in some cases, sellers are pulling their listings.

This “tug of war” reflects a disconnect: sellers expect premium prices, but buyers are more cautious, balancing budgets against higher borrowing costs.

What Buyers Need to Know in Today’s Market

If you’re waiting for mortgage rates to drop before making a move, be careful. When rates fall, demand will surge, driving prices even higher. That means more competition, fewer days on market, and stronger bidding wars.

The smarter play? Work with your lender on options like a floating rate or refinancing down the road. Buying now may actually protect you from steeper costs later.

What Sellers Need to Know in Today’s Market

Yes, Northern NJ is still a seller’s market — but strategy is key. Homes priced correctly and presented well are still achieving 100–101% of asking price. But the days of “list it at any number and watch it sell” are gone.

To win, you need:

• Strategic pricing that reflects current buyer psychology

• Professional preparation and staging that checks the right boxes

• Marketing that maximizes visibility and demand

The fourth quarter could be an excellent window to list, thanks to pent-up demand and improved buyer confidence from recent Fed rate adjustments.