Scott SelleckBroker / Sales Associate / Transition Advisor, The Selleck Group, KW City Views Realty · Scott Selleck | Trusted Bergen County Realtor | Keller Williams City Views Realty, Fort Lee NJ

Seller Sentiment in Bergen County, NJ — Is It Really Starting to Shift? 🤔

22 Apr 2025

Watch on YouTube

Bob Burg on why Bergen County sellers feel stuck: homeowners with 3% mortgages won't move when rates hit 6.7%. A neighbor just paid $925,000 nearby. Prices may finally be stabilizing after years of climbing.

Questions this video answers

3%.

$925,000.

About 6.7%.

April 2025.

But it's not all sunshine and rainbows. Many homeowners are feeling pretty much locked in by their current low mortgage rates. I recently spoke with a family who bought their home for $213,000 for 590,000 and refinanced at 3%. Their neighbors just paid 925,000 for a similar house. But with today's rates around 6.7%, movement would mean significantly higher mortgage payments. The latest signals Prices may be starting to stabilize after years of dramatic increases.