Tenafly Market Trends Explained – Prices, Buyer Behavior & More

Tenafly Real Estate Market Update, breaking down what’s really happening in our local housing market and what it means for buyers, sellers, and homeowners.

Whether you're preparing to sell, thinking about buying, or simply staying informed, understanding the direction of the market helps you make smarter decisions. So let’s dive right into the numbers, trends, and insights shaping Tenafly today.

A Recession in Housing Units

We’re seeing what can best be described as a recession in housing units — not in pricing, but in activity and movement.

Year-over-Year (2024 → 2025):

• Sold Units: Down from 124 → 107

• Under Contract Units: Down from 133 → 102

• New Listings: Also trending lower

This combination tells a clear story:
📉 Fewer homes are being sold
📉 Fewer homes are going under contract
📉 Fewer new listings are hitting the market

This reduced supply means we’ll continue to feel the impact over the next several months. Even if more homes begin to list now, it typically takes about 90 days for the market to reflect that through under-contract and sold data.

Despite lower inventory, I’ve personally had a very busy few weeks with seven listing appointments — a sign that many homeowners are preparing but still planning to wait until early spring. Just a reminder: in real estate, spring starts in January and February, not April or May!

Pricing: Still Rising and Staying Strong

Even with fewer units, pricing remains incredibly steady and even rising.

Average List Price

• 2024: $1.816M

• 2025: $1.918M

Median Sold Price

• 2024: $1.595M

• 2025: $1.625M

If list prices go up but sold prices go down, that typically signals buyers gaining leverage. However, that’s not what we’re seeing. Both list and sold prices are climbing, meaning demand is still strong.

Buyer Behavior: Demand Continues to Outpace Supply

One of the best indicators of buyer activity is the list-to-sold price ratio, which shows how close the final sale price is to the asking price.

List-to-Sold Ratio

• Last year: 100.43%

• This year: ~102%

This upward trend tells us buyers are still willing to pay above asking in many cases. Supply remains too low for demand — even with affordability challenges caused by rising prices.

The only buyer-friendly metric right now is:

Days on Market

• Up from 36 → 49 days

This slight increase offers buyers a bit more breathing room, though the market is still competitive.

We’re also seeing more homes temporarily pulled off the market if the pricing isn’t aligned, then relisted to reset days on market — a common strategy used to boost visibility.

What Does This Mean for You?

If You're a Seller:

You’re in a great position. Prices are high, demand is steady, and competition is limited. Listing earlier in “spring” gives you an edge — which in real estate means January/February.

If You’re a Buyer:

It’s still tough. Limited inventory and rising prices continue to challenge first-time buyers and renters trying to enter the market. But increasing days on market and potential new listings in early spring may offer opportunities.

If You're a Trade-Up Buyer:

This is actually your moment!
You can leverage your current home’s equity while moving up into your next property. Fun fact: 35%+ of Tenafly homes sold go to people already living here.

Join Us: Cars, Courts & Community Event

Mark your calendars!
📅 Saturday, November 22 - 11:00AM to 2:00PM
📍 Padel United Sports Club

We’re hosting Cars, Courts & Community, a fun community event and food drive supporting the Center for Food Action.

Expect:

• 🚗 Classic & vintage cars courtesy of Vantage Auto

• 🎾 Padel light trials + demos

• 🍕 Delicious local sponsors like Fort Lee Pizza, Brownstone, and Gotta Guy

• 🎉 Giveaways, goodie bags, and FREE pies!

Please bring non-perishable food items to help support families in need this season.

More details will be shared soon stay tuned!