Keller Williams City Views Realty, Real Estate Broker
The Selleck Group · Scott Selleck · Request an appointment at meet.sellecksellsnj.com
Fort Lee & Edgewater Market Insight
Serving Bergen & Hudson County · SRES, e-PRO · Licensed since 1993. 500+ transactions closed.
Fort Lee's price per square foot held up far better than its median sale price, which fell 16.4%. Edgewater's median rose 21.4%. Neither headline tells you what a specific unit is worth, because a median is a mix, not a price tag.
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A second measure makes both headlines easier to read. This is how I read what the numbers actually say for each town.
The Numbers Behind the Headline
Sources: Redfin, 3 months ending August 2026 (read October 11, 2026); Zillow Home Value Index via FRED, August 2026.
- Fort Lee median sale price: $440,000 (down 16.4%)
- Fort Lee median price per square foot: $500 (up 0.9%)
- Edgewater median sale price: $764,450 (up 21.4%)
- Edgewater median price per square foot: $534 (up 5.7%)
- NJ Zillow Home Value Index, June 2022 to August 2026: up 23.6%
Have Fort Lee home values dropped 16%? Not by price per square foot. Redfin's median sale price fell 16.4%, but the median price per square foot rose 0.9%, consistent with more lower-priced co-ops and condos in the sales mix. Edgewater's median rose 21.4%, which is a different story.
Key Takeaways
- In Fort Lee, Redfin shows a $440,000 median sale price, down 16.4%, and a $500 median price per square foot, up 0.9%, for the three months ending August 2026. A falling median with a steady price per foot points to a change in what sold.
- Edgewater moved the other way over the same period: a $764,450 median, up 21.4%, and $534 per square foot, up 5.7%. Part of that jump may also be mix, so it is not proof that every unit gained.
- Fort Lee is slower and more negotiable. Redfin shows homes selling after 89 days on market, at 98.2% of list, with 18.2% of homes taking a price drop.
- Statewide, the Zillow Home Value Index for New Jersey on FRED rose 23.6% from June 2022 to August 2026. A state index cannot price a unit in a specific building.
- Co-op and condo prices are hard to compare head to head. Value your own unit with comps in the same building and line, price per foot, monthly charges and days on market.
The Headline Numbers and Where They Come From
Start with the state. The Zillow Home Value Index for New Jersey, published on FRED, rose from $469,586 in June 2022 to $580,353 in August 2026. That is about 23.6% over that stretch, and 3.9% over the past year. It is a statewide index of typical home values, not a price for any one town.
Fort Lee's headline points the other way. Redfin reports a median sale price of $440,000 for the three months ending August 2026, down 16.4% from the same period a year earlier. Read alone, that sounds like falling values. Read next to a second number, it says something else.
Why a Median Can Fall When Prices Per Foot Hold
A median is the middle sale in a group. If the group changes, the middle changes, even when nothing about any one building does.
Example: imagine a quarter in which more studio and one-bedroom co-ops close than in the same quarter last year. Every building could hold its prices, and the median would still fall, because the middle sale is now a smaller, lower-priced unit. Our post on why Leonia's median home price is not wrong, just not usable walks through the same effect one town over.
That is why I look at price per square foot as a second lens. In Fort Lee it rose 0.9%, to $500. A 16.4% drop in the median next to a slight rise in price per foot is consistent with more lower-priced co-op and condo sales in the mix. It is an inference, not a measured fact. Redfin does not publish a Fort Lee co-op share, so nobody can say exactly how much of the shift came from co-ops versus smaller condos.
Price per square foot has its own caveat. It is also a median, and it moves with unit size, building age and views.
What Fort Lee's Numbers Actually Show
Here is the rest of Redfin's Fort Lee picture for the three months ending August 2026:
- Days on market: homes sold after 89 days on market, compared with 91 a year earlier.
- Sale-to-list: homes sold at 98.2% of list price, down 1.7 points.
- Sold above list: 19.3%, down 20.0 points.
- Price drops: 18.2% of homes, up 6.1 points.
- Volume: 145 homes sold in August, down from 150 in August a year earlier.
- Competition: a Redfin Compete Score of 27, which Redfin labels "Not Very Competitive."
The honest read is a steady price per foot in a slower, more negotiable market. Not a crash, not a frenzy. A co-op tower on Palisade Avenue and a condo near the bridge on Hudson Terrace can still behave differently from each other, and from the town median.
Edgewater Is a Different Story
Edgewater is not the Fort Lee story in reverse. Its median sale price rose 21.4% to $764,450, and its median price per square foot rose 5.7% to $534, over the same three months ending August 2026. Both measures moved up, so the co-op mix explanation that fits Fort Lee does not apply here.
The caution still applies. A 21.4% jump in the median is much larger than the 5.7% rise in price per foot, so part of the median's move likely reflects which units sold. It is not appreciation you can apply to every unit along River Road. Edgewater homes also took longer to sell: Redfin shows 99 days on market, compared with 80 a year earlier.
Two towns next to each other on the Hudson, two different stories behind the headlines.
Town | Median sale price | Year over year | Median price per sq ft | Year over year | Days on market (year earlier) |
|---|---|---|---|---|---|
Fort Lee | $440,000 | down 16.4% | $500 | up 0.9% | 89 (91) |
Edgewater | $764,450 | up 21.4% | $534 | up 5.7% | 99 (80) |
Table note: Redfin, 3 months ending August 2026, read October 11, 2026. All property types. Medians move with the mix of homes sold. Your unit's value depends on the building, the line, condition and monthly charges.
Co-ops Change the Comparison
A co-op purchase is a purchase of shares in the corporation that owns the building, along with a lease on the unit. That changes what the price includes. A co-op price often does not include the unit's share of the building's underlying mortgage, which is carried in the monthly maintenance instead.
Process matters too. Co-op buildings have a board approval step and set their own financing rules, such as how much must be put down. Those are process items, and they vary by building. Our post on two Fort Lee co-ops with opposite rules shows how much two buildings can differ, and our Fort Lee co-op vs. condo comparison explains why the lower sticker price is not always the lower monthly cost.
Comparing a co-op's price with a condo's price is comparing two different products. Compare co-ops with co-ops, and include the monthly charge every time.
How to Read Your Own Building's Value
- Same building, same line. Recent sales of the same layout in your building are the strongest comparison.
- Price per square foot. Use it to compare floors and lines within a building, with the size and view caveat above.
- Monthly charges. Co-op maintenance or condo HOA fees change what a buyer can pay for the unit.
- Days on market. A long run in your building tells you more than the town median.
- County condo supply. Bergen County townhouse and condo inventory was 656 in August 2026, up 27.1% from a year earlier, with 3.7 months' supply and sales at 99.6% of list, per the New Jersey REALTORS Local Market Update for Bergen County (current as of September 9, 2026). That figure covers all of Bergen County, not one town.
- Flood exposure. Redfin, citing First Street's Flood Factor, rates Fort Lee's flood risk as major and shows 13% of properties at risk of severe flooding over the next 30 years. Check the specific building on the FEMA Flood Map Service Center as a normal due-diligence step.
For a figure on your own unit, start with a home valuation built from your building's comps.
The Three Pillars Behind Every Good Decision
Every real estate decision sits where timing, lifestyle, and finances meet. Start with the first and work through all three.
Timing & Strategy
A slower Fort Lee market leaves room to negotiate, and it asks sellers to price from building comps, not from the headline. Nobody can promise where either town's median goes next.
Lifestyle & Location Fit
A co-op on the Palisades in Fort Lee and a condo along River Road in Edgewater are different products. Compare ownership structure, monthly charges, views, flood exposure and the commute before you compare prices.
Financing & Cash-Flow
Co-op financing rules, maintenance and taxes all shape the monthly cost. For reference, the NJ Division of Taxation lists 2025 effective tax rates of 1.839% for Fort Lee and 1.545% for Edgewater. Confirm the real figures with your lender and real estate attorney.
Frequently Asked Questions
Did Fort Lee home prices really drop 16% in 2026?
The median did. Redfin shows Fort Lee's median sale price down 16.4% for the three months ending August 2026, but the median price per square foot rose 0.9%. That pattern points to a change in what sold, so look at your own building's comps.
Why is the median price falling in Fort Lee if price per square foot is up?
Because the mix of sales changed. When more lower-priced units, such as smaller co-ops and condos, close in a period, the middle sale drops even if prices per foot hold. That is an inference from the data, not a published co-op share.
Are Edgewater condo prices still rising?
The town median is. Redfin shows Edgewater's median up 21.4% and price per square foot up 5.7%, across all property types, for the three months ending August 2026. Part of the median's jump is likely mix, so check comps in the specific building.
How do I value my Fort Lee co-op if co-op and condo prices aren't comparable?
Compare co-ops with co-ops. Start with recent sales in your building and line, then add the monthly maintenance and the building's financing rules. A local agent can pull those comps, and your attorney can review the building's documents.
Is it a buyer's or seller's market in Fort Lee right now?
Redfin calls it not very competitive, with a Compete Score of 27. Homes sold after 89 days on market and 18.2% had price drops. That describes the last three months. It is not a forecast.
Do Fort Lee and Edgewater waterfront buildings need flood insurance?
It depends on the building and the policy. Check the address on FEMA's flood maps, ask for the building's master insurance policy, and ask a licensed insurance agent what coverage your unit needs.
Want to know what your Fort Lee or Edgewater unit is actually worth in the current mix? Take the Seven-Question Assessment (7 questions, about 90 seconds), or Request an appointment and we will run the actual numbers together.
Have a quick question first? Ask my AI assistant on Delphi. It is an AI trained on my material, not a person.
Scott Selleck
Broker / Sales Associate | The Selleck Group | KW City Views Realty
SRES, e-PRO | Licensed since 1993. 500+ transactions closed.
NJ Real Estate Broker / Sales Associate #9236275. Licensure does not imply endorsement.
2200 Fletcher Avenue, Suite 502, Fort Lee, NJ 07024
Cell or text: (201) 970-3960 | Office: (201) 592-8900
Email: [email protected]
Website: SelleckSellsNJ.com
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AI assistant: delphi.ai/scottselleck
My story: coverstory.sellecksellsnj.com | Verified career record: record.sellecksellsnj.com
NJ Real Estate Broker / Sales Associate #9236275. Licensure does not imply endorsement. Keller Williams City Views Realty. Each office is independently owned and operated. Broker compensation in New Jersey is fully negotiable and is not set by law or by any board or association of REALTORS®. This article is general information only and is not legal, tax, or financial advice. Confirm your own costs with your real estate attorney, tax advisor, or lender.Equal Housing Opportunity.
Examples in this article are illustrations only. Market figures describe past sales and are not predictions or guarantees of any price or outcome.
Top 5 Sources
- Redfin, Fort Lee, NJ Housing Market, 3 months ending August 2026 (read October 11, 2026). redfin.com
- Redfin, Edgewater, NJ Housing Market, 3 months ending August 2026 (read October 11, 2026). redfin.com
- Federal Reserve Bank of St. Louis (FRED), Zillow Home Value Index for All Homes in New Jersey (NJUCSFRCONDOSMSAMID), through August 2026. fred.stlouisfed.org
- New Jersey REALTORS, Local Market Update, Bergen County, August 2026 (current as of September 9, 2026). bergencountynj.gov (PDF)
- New Jersey Division of Taxation, 2025 General and Effective Tax Rates. nj.gov (PDF)
Three pillars. One calm process.
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Equal Housing Opportunity | The Selleck Group at KW City Views Realty
