As we move through the heart of summer, the real estate market in Bergen County continues to shift. After a strong spring marked by low inventory and fierce competition, we’re seeing a subtle but important change in market conditions—and both buyers and sellers should take note.
Spring Recap: Low Inventory, High Competition
This past spring, the market heavily favored sellers. With limited inventory, many homes received multiple offers, often going under contract in days—sometimes over asking price. For buyers, this meant acting fast, making aggressive offers, and in many cases, compromising on wish lists just to get into a home.
Summer Shift: More Choices, More Strategy
Now that summer is in full swing, we’re starting to see more homes coming to market. This increase in inventory has given buyers a bit more breathing room. Instead of rushing to make decisions, buyers are taking their time and weighing their options. Homes that are well-priced and move-in ready are still drawing strong interest, but others are sitting longer, seeing price reductions, or requiring more marketing to attract offers.
What This Means for Sellers
If you’re thinking of selling, it’s more important than ever to price your home strategically and prepare it well for the market. While demand is still strong, buyers are more discerning than they were just a few months ago. Overpricing could lead to a longer time on the market or price drops later on.
That said, many homes are still selling quickly—especially if they’re priced correctly and marketed effectively from day one. Staging, high-quality photography, and strong local agent guidance can make all the difference.
What This Means for Buyers
Buyers should take advantage of this moment. You now have more inventory to choose from and slightly less competition in some price ranges. While mortgage rates remain a factor, having more homes to compare can help you make a smarter decision—and perhaps even negotiate better terms.
Want the Data?
I have detailed sales data for your local area, including how this month compares to last month and last year. Whether you’re casually watching the market or actively thinking of making a move, staying informed is your best strategy.
If you would like information on your town, just reach out—I’m happy to pull a custom report for you.
Let’s Talk Strategy
Every market is different, and every move is personal. If you’re thinking of buying, selling, or just want to understand what’s happening in your neighborhood, I’d love to help. Let’s chat and come up with a plan that fits your goals.