Scott Selleck (The Selleck Group) presents a Bergen County, NJ housing market update summarizing buyer, seller, and realtor sentiments from the past ~30 days. Buyers show cautious optimism as inventory rises, but demand remains strong for well-located, renovated homes (example: a Leonia single-family received 16 offers and sold for well above asking). Sellers remain relatively confident—some towns see 5–10% over asking and ~5.8% year-over-year growth—though relisted/expired listings (nationally ~47%) and job-market anxiety are creating caution. Realtors view the market as shifting toward balance: more inventory and longer days on market, but desirable properties still attract multiple bids; strategic, local expertise is emphasized. Closing includes contact info and a call to schedule consultations.
Welcome to the Real Estate Insights with Scott selick on my YouTube channel sell smart, Move Easy with Scott Selleck, the Selleck Group. My name is Scott. If you're navigating this housing market in Bergen County, New Jersey, this place is for you. Today we're unpacking the latest sentiments from buyers, sellers and also realtors based on the data from the past 30 days. Well, we'll basically compare the vibes, the motivations and the trends to help you make the more the most brilliant moves you can make whether buying, selling or brokering. Stay tuned. This, this could be really a game changer for you right now starting with the buyers. They're showing more cautious optimism amid this gradual cooldown. More inventory means better potential negotiations for some properties sparking hope for the first time buyers that possibly have some affordability and prove the trend. You know the trends that have been going on in northern New Jersey just they haven't had a lot of options but, but not all local markets are the same. Some older homes that need renovations, that are priced high or setting others with open layouts, renovated well located and desirable communities. They're still receiving multiple bids, often over 100,000 over asking. This week I represented clients at a buy as their buyer's agent in Leonia on a transaction where it was well maintained, centrally located property came to the market. It was priced at $739. This house, three bedroom, two full bath, nicely finished basement, was in a bidding war. There were 16 offers. We came in the sixth and five ahead of us were over 800,000. It's essential to understand that not all properties are equal. Some will sit for, you know, not basically being presented right or priced correctly or in a less desirable. There'll be trade offs. For example, I wrote an offer for another client this week in Cedar Grove for a townhome with a nice two car garage built in 2005. I currently have that client's house under contract right now in Leonia. I'm selling this townhome was a corner unit, Cedar Grove with a nice finished basement, very private setting. The house was priced at $879. We got the house under asking with an accepted offer and we're now in attorney review. So each property locality and transaction dynamics are different and it requires an experienced agent to maximize the situation to understand the sales comps, the trade offs and nuances for their clients. Now let's talk about the seller sentiment. More confidence on the seller side. But the realism is really starting to creep in. Sellers are still feeling positive that Their homes are selling in Bergen County. Why not? It's a great area and they're getting over asking often 5 to 10% over for towns like Teaneck, excuse me, Tenafly or Ridgewood. These areas have strong demand and the rate of growth is about 5.8% on average, year over year. And you got train towns for some sellers. There's a concern with properties though that have been expiring and are being relisted. Nationally it's 47% and these fears are kind of creeping in and creating insecurities. Plus the un, you know, stable job market lately is also creating a lot of anxiety and concerns for people. And how do Realtors feel about these things in this time? As a pragmatic and positive person, I take a curious basically optimistic approach. Market resilience. Some markets slow down as we approach those holidays while others remain active. For properties that are good condition, well positioned, open layouts and desirable areas, they're always going to sell in Bergen County. It's a market that one needs really to exercise a lot of patience because the a lot of local communities that are subtly different. But helping buyers understand the different local communities, helping sellers understand the dynamics really is where you and I shine. And it's very important because there's a lot of anxiety that comes with this market and to have it, you know, becoming more of a balanced market for buyers and is creating some anxiety for sellers overall. Sellers though and realtors are more on the optimistic side where the weary buyers have kind of taken a hit over the last three years. Sellers leverage their gains. Buyers face barriers and tight inventory and high interest rates. Realtors bridge the strategy, but worry about deal fragility. Psychologically equity drive, sellers race hinder buyers and commission pressures. Realtors, all these things dynamics we're all dealing with. Sellers still have an edge even though we're shifting to a balanced market with longer days on market and inventory up. From optimism to temperance view across all groups is what you're seeing. But buyers hopeful on increase in supply rates falling cut aligned sentiments amid just, you know, shared anxiety across the board. That's the Bergen county market pulse. Like subscribe or comment. Tell me which side are you on? And reach out to me. Schedule a consultation with me today. Scott Selleck, the Selleck Group with Keller Williams City Views Realty. You can reach me at 200-1970-3960 or email me at scottcellexcellsnj.com have a wonderful day and looks forward to see you on the road.
