In Bergen County, we had 20% less sales YTD through February, 2025, compared to the same period in 2024. The good news, however, is that our active listings in Bergen County have increased by approximately 40% for the first two months of this year compared to the same period in 2024. We still need more inventory for prices to level out or go down but it’s a great start!
The February, 2025, Bergen County data show the median days on market was 23 days and the average sale price is 103% of the listing price. 49% of homes sold over the asking price in February.
Inventory is definitely increasing as we head into the Spring months. However, it still remains a seller’s market with fewer homes to choose from and homes selling quickly. Multiple offers on homes are likely and buyers continue to have less negotiating power.
Of course, it is important to look at data in specific price ranges as well as towns. If you would like statistics on your specific town or price range, please reach out to me.
