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For Northern NJ | December, 2025
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Tenafly Real Estate Market Update: Prices Stabilize, but Inventory Challenges Persist
Tenafly Real Estate Market Update: Prices Holding Steady Amid Low Inventory
The Tenafly housing market is finally showing signs of stability. Year-to-date, average and median home prices have leveled off, with the average list price down just 1% and the median sold price dipping 2.7%. This indicates normalization not a bubble as prices adjust after several years of rapid growth.
But while pricing may be flat, the real story lies in the slowdown of market activity. Both pending and sold transactions are down, signaling a quieter market ahead. With fewer new listings hitting the market, Tenafly is experiencing a continued shortage of available homes, a trend that’s likely to persist over the next few months.
What’s Driving the Slowdown in Tenafly?
The decline in new listings isn’t just about demand it’s also about homeowners staying put. Many sellers are hesitant to give up their lower mortgage rates, and move-up buyers are struggling to find their next home. Since a large share of Tenafly home sales involve residents already living in the area, this lack of movement creates a cycle of limited inventory.
In addition, affordability remains a challenge. Even though mortgage rates have dropped from around 6.75% last year to the low 6% range today, it hasn’t been enough to unlock new inventory. Buyers are cautious, and sellers are holding out for ideal prices leading to longer days on market and more price reductions.
A Normalizing Market, Not a Declining One
Despite the slowdown in activity, Tenafly’s housing fundamentals remain strong. Homes that do sell continue to close at or near their list prices, showing that buyer demand still exists when properties are priced correctly.
The key takeaway? We’re in a period of recalibration, not collapse. As rates settle and confidence returns, inventory could begin to loosen paving the way for a more balanced market in the months ahead.
What Tenafly Buyers and Sellers Should Know
For homeowners considering selling, this is a great time to evaluate your home’s current value and position it strategically for when the market picks back up. Buyers should be ready to act quickly on well-priced homes, as inventory remains extremely limited across price points.
Even in a slower market, pricing, presentation, and timing remain crucial to success in Tenafly real estate.
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Report Cards by Town
Brought to you by Niche.com
Check out Niche's 2024 Best Places to Live in Bergen County here
Bergen County, NJ
Bergen County, New Jersey, has a population of 953,243 and is considered one of the best places to live in the state. Most residents own their homes, and the area offers many bars, restaurants, coffee shops, and parks. It attracts young professionals, with residents generally leaning liberal. The public schools in Bergen County are highly rated.
Tenafly, NJ
Tenafly, a suburb of New York City in Bergen County with a population of 15,299, is one of the best places to live in New Jersey. Most residents own their homes and enjoy a suburban feel with numerous restaurants, coffee shops, and parks. The town attracts families, and residents generally hold moderate political views. Tenafly’s public schools are highly rated.
Oradell, NJ
Oradell, a New York City suburb in Bergen County with a population of 8,208, is considered one of the best places to live in New Jersey. Residents enjoy a suburban feel, with most owning their homes. The town has plenty of coffee shops and parks and is popular among retirees. Oradell residents generally lean conservative, and the public schools are highly rated.
Hawthorne, NJ
Hawthorne, a suburb of New York City in Passaic County with a population of 19,456, offers a dense suburban feel with many restaurants, coffee shops, and parks. It attracts families and young professionals, with residents generally leaning liberal. The public schools are rated above average.
Demarest, NJ
Demarest, a New York City suburb in Bergen County with a population of 4,930, is considered one of the best places to live in New Jersey. It has a rural atmosphere, with most residents owning their homes. The community generally holds moderate political views, and the public schools are highly rated.
Closter, NJ
Closter, a New York City suburb in Bergen County with a population of 8,555, is highly rated as a place to live in New Jersey. It provides a rural feel, and most residents own their homes. The community tends toward moderate political views, and the public schools are highly rated.
Montvale, NJ
Montvale, a New York City suburb in Bergen County with a population of 8,413, is known as one of New Jersey’s top places to live. It offers a sparse suburban atmosphere, with most residents owning their homes. The area attracts many young professionals, and the community generally leans conservative. Montvale’s public schools are highly rated.
Upper Saddle River, NJ
Upper Saddle River, a New York City suburb in Bergen County with a population of 8,313, is highly rated as a place to live in New Jersey. It offers a rural feel, with most residents owning their homes and enjoying the town’s numerous parks. Residents tend to hold moderate political views, and the public schools are highly rated.
Woodcliff Lake, NJ
Woodcliff Lake, a New York City suburb in Bergen County with a population of 6,096, is highly regarded as a place to live in New Jersey. It provides a sparse suburban feel, with most residents owning their homes and enjoying many coffee shops and parks. The community leans conservative, and the public schools are highly rated.
Real Estate Insights, Home Tips & More
Tenafly Real Estate Market Update: Prices Stabilize, but Inventory Challenges Persist
Tenafly Real Estate Market Update: Prices Holding Steady Amid Low Inventory
The Tenafly housing market is finally showing signs of stability. Year-to-date, average and median home prices have leveled off, with the average list price down just 1% and the median sold price dipping 2.7%. This indicates normalization not a bubble as prices adjust after several years of rapid growth.
But while pricing may be flat, the real story lies in the slowdown of market activity. Both pending and sold transactions are down, signaling a quieter market ahead. With fewer new listings hitting the market, Tenafly is experiencing a continued shortage of available homes, a trend that’s likely to persist over the next few months.
What’s Driving the Slowdown in Tenafly?
The decline in new listings isn’t just about demand it’s also about homeowners staying put. Many sellers are hesitant to give up their lower mortgage rates, and move-up buyers are struggling to find their next home. Since a large share of Tenafly home sales involve residents already living in the area, this lack of movement creates a cycle of limited inventory.
In addition, affordability remains a challenge. Even though mortgage rates have dropped from around 6.75% last year to the low 6% range today, it hasn’t been enough to unlock new inventory. Buyers are cautious, and sellers are holding out for ideal prices leading to longer days on market and more price reductions.
A Normalizing Market, Not a Declining One
Despite the slowdown in activity, Tenafly’s housing fundamentals remain strong. Homes that do sell continue to close at or near their list prices, showing that buyer demand still exists when properties are priced correctly.
The key takeaway? We’re in a period of recalibration, not collapse. As rates settle and confidence returns, inventory could begin to loosen paving the way for a more balanced market in the months ahead.
What Tenafly Buyers and Sellers Should Know
For homeowners considering selling, this is a great time to evaluate your home’s current value and position it strategically for when the market picks back up. Buyers should be ready to act quickly on well-priced homes, as inventory remains extremely limited across price points.
Even in a slower market, pricing, presentation, and timing remain crucial to success in Tenafly real estate.
