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The Northern New Jersey real estate market continues to stand apart from national trends as we move through June 2025. While much of the country is experiencing softening, local pricing in Bergen County and nearby towns remains resilient—even surprising. But under the surface, we’re seeing signs of a shift.
Let’s break it down so homeowners, buyers, and local real estate professionals can make smart decisions in this evolving market.
One of the standout success stories this month? Tenafly tops the list of appreciating towns in Northern New Jersey. Despite national headwinds, many Bergen County towns continue to see price growth, which tells us that local demand and scarcity are still in play.
We’re starting to see a slowdown in transaction volume. In fact, home sales in Northern NJ dropped 16% compared to 2024.
What caused it?
April 2025 marked a turning point, when trade war concerns and stock market volatility created hesitation.
Buyers became more cautious, and sellers became less willing to negotiate.
Higher mortgage rates also cooled buyer enthusiasm.
Despite this drop in activity, pricing tells a different story…
Even with fewer homes sold, the median sale price is up 10% compared to June 2024. That’s right—fewer buyers, but higher prices. This anomaly reveals a key insight:
Sellers are holding their ground.
Buyers are still willing to compete for the right home.
Many homes are still receiving multiple offers, especially if priced right and move-in ready.
This market behavior defies the usual rulebook, making it one of the most unique housing markets in recent memory.
We saw listing prices dip briefly in April, likely in reaction to:
Market anxiety
Mortgage rate hikes
Uncertainty tied to global and economic news
However, those prices rebounded quickly, and so did 30-year fixed mortgage rates, which climbed before tapering. If rates drop again, pricing could surge even more, as affordability improves and more buyers jump back in.
Despite the dip in sales activity, sellers are not rushing to offload their homes. Many listings are being withdrawn or expiring—not because they can’t sell, but because sellers aren’t getting their price and are choosing not to move.
This tells us:
Homeowners in Bergen County have strong equity positions
Many can afford to wait for the right buyer
Only highly motivated sellers are adjusting prices or making concessions
It’s a tough spot for buyers:
Inventory is up slightly, but selection is still tight
Prices are high, and continue to rise
Interest rates are volatile
Still, now is not a bad time to buy if you're ready. Buyers who are well-prepared—financed, working with the right agent, and clear on priorities—are succeeding.
Whether you're planning to sell in Closter, Tenafly, Hackensack, or Ridgewood, or you're a buyer looking for the right opportunity in Northern New Jersey, strategy is key.
Schedule a free real estate strategy session to:
Get a custom home valuation
Prepare your home for market with our “Value-Up” method
Build a smart buying plan that puts you in the strongest position
Our agents get to know you — Need to move for a job? Want a shorter commute? Getting married? Having a baby? Need to upgrade or downsize? At this stage in the process, we’ll send you notifications about the listings that you’re most likely to be excited about. Be sure to let us know if one (or more) jumps out at you so that we can skip to the next step and schedule a viewing. be there for you every step of the way.
Success for each person looks different. A growing family or new empty-nesters have different needs. Our goal is to map out your goals financially to get a good understanding of what you need in a home but also what makes the most sense for your specific situation - both from a time and money perspective.
We’ll introduce you to our mortgage partner, who can help you determine your buying price range with confidence. Be prepared to dig into paperwork during this part of the process such as pay stubs, W2’s, and tax returns. The lender will do a full review and then tell you what you will be able to borrow in order to purchase a home. This is a vital step in the home buying process!
During this process, we will be sending you some listings to evaluate and provide us with feedback. This helps us to understand, update and revise your criteria and preferences. Our agents are always super involved in the community so they can provide you with tons of information about the areas you are interested in. We will also use this information to setup notifications of listings to you and evaluate any office exclusives (homes that are not yet listed in the MLS) so you are the first to see the property.
Here’s where the buying process gets really fun! We’ll attend open houses together and schedule viewings of the homes that you’ve loved from our listing alerts. Many of our clients prefer us to consolidate to one day of searching or have specific times that work for them. We handle all the coordination so you just have to show up! We’ll talk about how the budget will work and make sure that we find you the perfect home.
When you’re ready to make an offer, your agent will present a written offer to the seller. We also present your offer using video to help make a bigger impact and showcase our commitment to the sale of the home. And while everyone loves getting their offer accepted right away, the seller could come back to us with a counteroffer, or reject your initial offer all together. We’re happy to walk you through each of these possibilities and exactly how to handle them. Once the offer is accepted, it’s time to get your financing in order and move forward to the next step!
The sellers accepted your offer, and the home is going through appraisal and inspection. The appraisal guarantees that the price of the property matches the condition of the property while the inspection makes sure that everything in the home is functioning properly and there are no major issues inside. These are the last steps before the shiny keys to your home are placed in your hand... for good!
Get excited because it’s time to close on your home! This process includes going through all of the final paperwork and signing your name (a lot!). Don't forget to bring all of the paperwork you’ve collected along the way and your down payment.
But we know it doesn't stop here. You likely have a lot to coordinate, movers, painters, handymen etc. We will help you to SEGue into your next chapter seamlessly. Even make some introductions to some neighbors! You can count on us!
82 N. Summit Street, Tenafly NJ 07670
Stacy Esser Consulting LLC
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