Central Bergen County Real Estate Market Update – 2025

Welcome to the latest market update for Central Bergen County! I’m Kelly Weber with Keller Williams, and today I’m excited to share some key insights into our local real estate market.

Strong Year-Over-Year Growth in Home Values

Despite a national trend showing a decrease in home prices, Central Bergen County is experiencing an encouraging rise in home values. In the past year, six towns in our area have seen consistent increases in home prices, making it a vibrant market for buyers and sellers alike.

Inventory Levels and Market Dynamics

One of the standout features of our market is the low inventory. Traditionally, a balanced market is considered to have around six months of supply; however, current statistics show we are hovering just under two months of inventory. This scarcity of available homes contributes to a strong seller's market, where demand continues to outpace supply.

Spotlight on River Edge

This month, we're shining a light on River Edge. Here are some key statistics:

• Months of Inventory: Under 2 months

• List Price to Sell Price: Homes are selling for over the asking price

• Median Days on Market: Approximately 11 days, down nearly 22% month-over-month

• Median Sold Price: $705,000

It’s important to note that while the median sold price reflects recent transactions, the year-over-year growth for River Edge sits closer to $755,000, showcasing a positive trend in the market.

What Lies Ahead?

As we look forward in 2025, the future of the market is always uncertain, but the current trends suggest that we will continue to see a robust market environment. Many potential buyers are asking whether now is the right time to jump back in. My advice? You buy high, you sell high.

Navigating Interest Rates

After a spike in interest rates reaching 8% in 2023, we’ve seen a dip to around 6% in 2024, which has encouraged buyers to re-enter the market. Currently, rates are around 7%. Remember, the mantra is “marry the house, date the rate.” While refinancing is always an option down the road, the priority should be finding the home of your dreams now.

Maximizing Your Home's Value

If you’re considering selling, I’m here to help you maximize your home’s value. Simple improvements like decluttering, fresh paint, and enhancing curb appeal can significantly impact your property's marketability. Let’s set up a strategy appointment to discuss how we can elevate your home’s value.

Get in Touch

If you're interested in a consultation, click the link below, and we can work together to get the most out of your property.

Next month, we’ll be diving into Emerson to uncover the latest market trends there. Stay tuned for more insights, and see you next month!