Bergen County & Passaic County NJ Real Estate Market Update: Is the Seller's Market Cooling Off?

The question on everyone’s mind: Is Bergen County and Passaic County real estate finally shifting? With rising equity, increasing inventory, and mortgage rates adjusting, there are signs of movement in what has been a strong seller’s market. Whether you're a buyer or seller, understanding these trends is crucial before making your next move.

More Homes for Sale in Hackensack and Teaneck NJ: Inventory Starting to Rise

Over the past few months, homeowners in Hackensack and Teaneck NJ have begun taking advantage of strong equity positions, resulting in more homes hitting the market. While inventory levels are still under 3 months of supply, technically a seller's market, these increases may signal an early transition toward a more balanced market.

• Hackensack, NJ: Inventory rising to 2.67 months of supply

• Teaneck, NJ: Median values surpassing $700,000, with increasing supply

This subtle inventory uptick gives buyers a bit more leverage while still keeping sellers in a favorable position.

Wayne NJ Real Estate: Continued Growth and Record Home Prices

Wayne, NJ remains one of the hottest real estate markets in Southern Passaic County:

• Average sale price now exceeds $825,000

• Prices up over 12% year-over-year

• Homes selling 6.5% over list price on average

The combination of strong buyer demand and limited supply continues to drive prices higher in Wayne.

Southern Bergen & Passaic County NJ: Market Strength Continues

Other neighboring towns like Hawthorne, Clifton, and Fair Lawn NJ are also holding strong. Many still report inventory levels under 2 months of supply, keeping competition high and prices elevated.

Despite small increases in inventory, these communities remain solidly in seller’s market territory for now.

Homeowner Equity Hits Record Highs: What This Means for Sellers

Nationwide, homeowners are sitting on a record-breaking $17 trillion in equity. Of that, $11.5 trillion is accessible for those considering refinancing, remodeling, or selling.

For NJ homeowners, this surge in equity presents huge opportunities:

• Use equity to fund home renovations

• Relocate while maximizing profits

• Cash out before the market potentially shifts

Sellers in Bergen and Passaic County NJ should act strategically, ensuring homes are well-maintained and priced accurately to outperform the competition.

Mortgage Rates & Buyer Opportunities in Bergen County NJ

With national mortgage rates hovering around 6.85%, some buyers remain hesitant. However, inventory increases give buyers more negotiating room, especially moving into summer and fall 2025.

For renters still waiting: now is the time to act. Rising home prices and equity gains suggest waiting could price some buyers out of the market entirely.

Personalized Real Estate Strategy: Buy or Sell with Confidence in NJ

Whether you're looking to unlock equity or secure your first home in Bergen or Passaic County NJ, success now depends on having the right strategy.

Sellers:

• Stage, price, and market your home correctly to maximize your return.

Buyers:

• Take advantage of rising inventory and negotiate from a position of strength.

Let’s Build Your Customized Real Estate Plan Today

Not sure how these changes impact your specific town or situation? I’m here to help. Call or text me at 973-662-4913 for a personalized consultation. Whether you're buying, selling, or investing in NJ real estate, I’ll create a plan tailored just for you.