Is Bergen County, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bergen County is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Bergen County was a Seller's Market.

Key Takeaway

Bergen County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Bergen County, NJ

How much do homes in Bergen County, NJ cost?

Median Sold Price

$650,576

$368/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$60,884(+10.3%)

Key Takeaway

Homes in Bergen County have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Bergen County was $650,576 in May 2024, up 10.3% from last year, and the median price per square foot was $368.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $250K$270K
+8.0%
2 $409.5K$460K
+12.3%
3 $550K$619.8K
+12.7%
4 $723.3K$744.9K
+3.0%
5+ $977K$1.1M
+17.7%

Summary: Bergen County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 17.7%.

Median Sold Price Compared To Nearby Counties

Passaic County
+11.1%
Bergen County
+10.3%
Essex County
+10.2%
Bronx County
-0.5%

Housing Supply in Bergen County, NJ

How many homes are available in Bergen County, NJ?

Number of Homes For Sale

Apr 2024May 2024CHANGE
9231,640+77.7%

Summary: The Bergen County real estate market had 1,640 homes for sale in May 2024, a 77.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 5498
+81.5%
2 110197
+79.1%
3 266494
+85.7%
4 219405
+84.9%
5+ 274446
+62.8%

Summary: The Bergen County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 81.5%, 2 bedroom homes increased by 79.1%, 3 bedroom homes increased by 85.7%, 4 bedroom homes increased by 84.9%, and 5+ bedroom homes increased by 62.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
9993-6.1%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

76 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bergen County, you could pay more than the asking price. 81.7% of homes here sold above asking price last month.

Summary: A total of 93 homes were sold or pending in Bergen County in May 2024, down by 6.1% month-over-month. Of the 93 sold homes, 17% were sold under asking, 1% were sold at asking, and 82% were sold over asking.

Days on Market for Bergen County, NJ

How long does it take to sell a home in Bergen County, NJ?

Average Sale Time

May 2023May 2024CHANGE
73 Days38 Days-47.3%

Summary: Homes in Bergen County had an average of 38 days on market in May 2024, down by 47.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bergen County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 93 homes were sold in Bergen County; 2% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Bergen County, NJ

Nearby Markets to Bergen County, NJ

What housing markets are near Bergen County, NJ?