Oradell & Central Bergen County Real Estate Market Update: February Highlights

Central Bergen County Real Estate Market Update: March 2025

Welcome to this month’s real estate market update for Central Bergen County! Whether you're a homeowner contemplating selling or a potential buyer navigating the market, understanding the current trends is crucial. Let’s dive into the latest statistics and insights that shape our local real estate landscape.

Inventory Challenges and Seller's Market

The question on everyone's mind is, "When will we see more inventory in the market?" Unfortunately, the answer remains elusive. Active listings are down, creating a supply shortage that heavily favors sellers. If you’re considering selling your home, now might be the perfect time to act.

Key Market Insights:

• Median Estimated Values: Across all towns in Central Bergen County, median estimated property values have seen significant year-over-year growth. This trend indicates a robust market for sellers.

• Months of Supply: The months of inventory available is alarmingly low. For instance, in towns like Oradell and River Edge, we are experiencing an extreme shortage, making it a prime time for sellers to capitalize on increased demand.

Town-by-Town Breakdown

Oradell

• Median Sold Price: Up 25.51%

• Sold to List Price: Increased by almost 10%

• Median Days on Market: Down 23.53%

River Edge

• Median Sold Price: Surged by 43.36%

• Sold to List Price: Slightly decreased, but still competitive

• Median Days on Market: Notably up by 562.5%, warranting further investigation

Emerson

• Median Estimated Value: Just shy of $770,000, reflecting a 1.4% increase month-over-month.

New Milford

• Months of Inventory: Just under two months, which is higher than other towns.

• Median Sold Price: Decreased by nearly 13%, suggesting a unique market condition that may require closer analysis.

Bergenfield

• Months of Inventory: Low, indicating strong buyer competition.

• Sold to List Price: Increased by 3.25%

• Median Days on Market: Up by 49%, suggesting quicker sales despite rising days

• Median Sold Price: Increased by 4.55%

Dumont

• Sold to List Price: Up by 0.36%

• Median Days on Market: Down nearly 35%, indicating faster sales

• Median Sold Price: Slightly decreased by over 6.5% month-over-month

What This Means for Sellers

The current market dynamics clearly indicate that we are experiencing a seller's market. With demand outpacing supply, sellers have the upper hand. If you've been contemplating whether now is the right time to sell, the data suggests a resounding "yes."

Maximize Your Home's Value

Spring is traditionally the hottest time for real estate, making it an ideal moment to list your home. If you’re ready to take the next step, I invite you to schedule a strategy session. Together, we can explore how to maximize your home’s value and attract multiple offers above the asking price.

Conclusion

In summary, Central Bergen County's real estate market is thriving, with significant price increases and low inventory levels. Whether you're a seller looking to capitalize on the current market or a buyer hoping to navigate these challenging conditions, having a knowledgeable agent by your side is crucial.