Scott Selleck breaks down the 2026 Northern New Jersey market, where 3-bedroom starter homes have jumped from $250-325k to $550-650k, drawing 10-12 offers per listing. First-time buyers are using down-payment assistance and preferred rates, while expanding searches into Essex and Passaic counties. One couple won a bidding war by asking the seller what mattered most, then offering $10k over asking with a fast deposit and backup status.
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If you're trying to buy a home in Northern New Jersey right now, you already know it's not easy. Inventory is tight, prices have jumped dramatically over the past few years, and many homes are receiving 10 to 12 offers within days of hitting the market. I'm Scott Selleck with the Selleck Group at Keller Williams City Views Realty in Fort Lee, and I want to share what I'm seeing right now in the 2026 Northern New Jersey real estate market. Right now I'm actively working with close to 20 clients. At the moment, I have 4 transactions under contract in Fort Lee, Edgewater, Bogota, and Saddle Brook.
3 are sellers and 1 is a buyer.
In addition, I have about 15 clients preparing to list their homes this spring or actively making offers on properties.
From where I sit, this market is extremely active, but inventory remains very tight. Buyers searching for 3-bedroom starter homes are typically looking in the $550,000 $650,000 range. These are often ranch homes, colonials, or Cape Cod style homes.
But what surprises many buyers is that just 3 to 5 years ago, many of these homes were selling between $250,000 and $325,000. That price shift has dramatically changed the first-time buyer market. Many first-time buyers are using first-time buyer programs that offer down payment assistance grants that do not have to be paid back, and preferred interest rates in certain zip codes.
But these programs also have income qualification limits, so not everyone can qualify. Because inventory is tight, many buyers are expanding their search beyond Bergen and Hudson County into Essex and Passaic County. Recently, I was working with a couple who had been searching for 6 weeks.
We went out every weekend. In the rain, during snowstorms, even in 6-degree weather. They made strong offers, even going $25,000 over asking on one property, but kept getting outbid.
Finally, we found a home in Nutley, New Jersey with good potential.
Before writing the offer, I called the listing agent and asked one key question: What would give the seller peace of mind? We structured an offer $10,000 over asking committed to a fast deposit, and scheduled the inspection quickly so the seller would know where things stood.
In return, we asked the seller to place other buyers in backup status and cancel the open house.
That strategy worked. We are now under contract. After 34 years in Northern New Jersey real estate, I've learned that in competitive markets like this, strategy matters. In our next video, I'll walk you through what happens after your offer is accepted and how the attorney review process works in New Jersey.
