Is it a good time to buy a house in Tenafly, NJ—or should you wait?
What this blog answers:
Is now a smart time to buy in Tenafly, or should you hold off and wait for a better deal?
Snippet answer:
Right now in 2025, Tenafly remains a strong seller’s market with relatively low inventory and steady price appreciation. Although homes are priced at a premium compared to state averages, steady demand and tightening supply suggest waiting may leave you paying more later—not less.
Local Market Snapshot: Tenafly in Mid‑2025
Average home value: About $1.19 million, with year-over-year gains between 3% and 6%.
Median listing price: Around $2.0 million, a notable increase from last year.
Market speed: Homes typically spend between 35 and 41 days on market, with some going pending in under a week.
Inventory: Very tight—many listings see multiple offers and sell at or above list price.
New Jersey Overview: Rising Prices & Growing Inventory
Statewide median sale price: Approximately $582,000, up over 6% from last year.
Supply trends: While inventory is increasing slightly statewide, demand still outpaces supply—especially in desirable locations like Tenafly.
So What Does That Mean for You?
✅ Why Now Might Be the Right Time
Tenafly’s exclusive location and strong buyer demand keep its market resilient.
Inventory remains limited, meaning competition is high and desirable homes don’t last long.
Long-term appreciation remains strong, making this a solid investment if you plan to stay for several years.
❌ Why Waiting Might Make Sense
Some forecasting models suggest a short-term dip in home values.
If mortgage rates come down or more inventory hits the market later in 2025, there could be more room to negotiate.
Strategic Advice for Buyers
Act with confidence: Tenafly continues to attract well-qualified buyers, and hesitation can cost you.
Look beyond cosmetic issues: Homes needing minor updates may present good value.
Be financing-ready: Having your mortgage pre-approval in place helps you compete.
Work with a local expert: Neighborhood knowledge is key—knowing when and where to strike makes a difference.
Monitor broader trends: Keep an eye on interest rates and inventory shifts through fall and winter.
Final Takeaway
If Tenafly fits your lifestyle and budget, now is a smart time to buy. The market is competitive, and homes continue to appreciate. Delaying could mean facing higher prices and fewer choices. But if you’re watching rates or waiting for more inventory, be prepared to act quickly when the right opportunity comes along.
For expert guidance on making your move in Tenafly or anywhere in Bergen County, schedule a call with Scott Selleck today:
📅 Schedule a call
📞 Text/Call: 201‑970‑3960
📧 Email: [email protected]
🌐 Website: www.SelleckSellsNJ.com
🏢 Scott Selleck, KW City Views Realty – Fort Lee, NJ Location
