Is Bergen County, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Bergen County was a Seller's Market.
Housing Prices in Bergen County, NJ
How much do homes in Bergen County, NJ cost?
Median Sold Price
$650,000
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bergen County was $650,000 in April 2024, up 11.2% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $250K | $264K | +5.6% |
2 Bedrooms | $405K | $456K | +12.6% |
3 Bedrooms | $550K | $613.3K | +11.5% |
4 Bedrooms | $712.8K | $750K | +5.2% |
5+ Bedrooms | $978K | $1.1M | +12.5% |
Summary: Bergen County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Counties
Bergen County | $584.5K | $650K | +11.2% |
Passaic County | $450K | $500.1K | +11.1% |
Essex County | $550.9K | $600.7K | +9.0% |
Housing Supply in Bergen County, NJ
How many homes are available in Bergen County, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
815 | 1,487 | +82.5% |
Summary: The Bergen County real estate market had 1,487 homes for sale in April 2024, a 82.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 51 | 84 | +64.7% |
2 Bedrooms | 101 | 189 | +87.1% |
3 Bedrooms | 232 | 443 | +90.9% |
4 Bedrooms | 187 | 361 | +93.0% |
5+ Bedrooms | 244 | 410 | +68.0% |
Summary: The Bergen County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 64.7%, 2 bedroom homes increased by 87.1%, 3 bedroom homes increased by 90.9%, 4 bedroom homes increased by 93%, and 5+ bedroom homes increased by 68%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
87 | 92 | +5.7% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Summary: A total of 92 homes were sold or pending in Bergen County in April 2024, up by 5.7% month-over-month. Of the 92 sold homes, 26% were sold under asking, 9% were sold at asking, and 65% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
81 Days | 23 Days | -71.3% |
Summary: Homes in Bergen County had an average of 23 days on market in Apr 2024, down by 71.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 92 homes were sold in Bergen County; 3% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.