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Tenafly NJ Real Estate: Seller’s Market Breakdown + Giveaway!
Tenafly NJ Real Estate Market Update: Home Prices Continue to Soar!
The Eastern Bergen County real estate market is defying national trends, and Tenafly NJ real estate continues to thrive in 2025. In this month’s market update, we’re breaking down everything you need to know about home values, inventory, buyer vs. seller dynamics, and pricing trends plus, stay tuned for details on our exciting new community contest!
Tenafly NJ Home Values Continue to Rise
The median estimated home values in Tenafly and surrounding Bergen County towns are all showing strong growth. In fact, while many national markets are seeing cooling trends, Tenafly home prices keep climbing, making it one of the hottest real estate markets in New Jersey.
Inventory remains tight, which is a major reason why prices remain elevated. Sellers are benefiting from strong buyer demand and limited competition, while buyers are facing increasing prices as they try to secure homes before values climb even higher.
Strong Seller’s Market Dominates Tenafly Real Estate
When it comes to supply and demand, Tenafly remains a solid seller’s market. Currently, there are only 2.4 months of housing inventory available, well below the balanced market threshold of 4 to 5 months. This low inventory continues to create upward pressure on prices.
Even though there has been a slight uptick in expired listings and some price adjustments (primarily in the luxury market), the percentage of price drops remains minimal compared to normal levels. Tenafly home sellers continue to have significant leverage in negotiations.
Why Inventory Remains Low in Bergen County NJ?
One of the biggest challenges for the Bergen County housing market is a lack of new inventory. Unlike other areas, Tenafly NJ has limited land for new construction, making it difficult to build additional housing and meet buyer demand.
Additionally, many current homeowners are sitting on historically low mortgage rates, making them hesitant to list their homes even when they have built significant equity. This cycle further restricts inventory and keeps the market highly competitive.
Buyer vs. Seller Dynamics in Tenafly NJ
Sellers: Benefit from low competition and rising home values. If you’ve been thinking of selling, 2025 continues to present excellent opportunities.
Buyers: Waiting may not be a successful strategy. Tenafly home prices are increasing, and limited inventory means fewer choices and higher competition.
Median Sale Prices & List Prices Are Increasing
In Tenafly NJ, both the median sale price and list price are trending upward. This indicates that even as sellers price their homes higher, buyers are still willing to meet those prices in order to secure a property in this desirable area.
If you're in a “wait and see” mode as a buyer, it may be time to reconsider. The market has not shown signs of softening yet, and waiting could cost more in the long run.
Join Our Tenafly NJ Community Contest: Grill Snap & Win!
To add a little fun to the summer market season, we’ve launched our "Grill Snap & Win" BBQ Photo Contest!
How to Enter:
Post your favorite BBQ photo on Instagram or Facebook.
Tag us: @stacyessergroup
You’ll receive a DM with your entry code.
Enter as many times as you like!
The winner will receive a 6-month BBQ kit delivered right to your door! The contest runs through July 31st, and all participants must be Tenafly residents. We can't wait to see your best barbecue moments!
What’s Next for Tenafly Real Estate in 2025?
While many areas across the country are starting to feel the effects of increased inventory and changing buyer sentiment, Tenafly remains resilient. As long as inventory remains low and demand stays strong, home prices are expected to stay elevated.
We will continue monitoring the market closely to provide the most up-to-date insights.
Our 6 Step Buyers Process
Beginning your home search can be an overwhelming and daunting task. Because of that, our team makes sure that you, and all other potential buyers, understand each of the 8 steps that we take to make the process as easy and painless as possible. By the end of your search, with our support and guidance, you will live happily ever after in your new, dream home.
Financially Map Out Your Success
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.
Buyer Matching & Office Exclusives
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.
Let the Showings Begin
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.
Strategic Negotiations
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!
Segue to Your Next Chapter
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!
Ready to find your dream home?
Let us help you make that happen!
Client Care: (201) 500-2212
82 N. Summit Street, Tenafly NJ 07670
Stacy Esser Consulting LLC
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