What Is the Bergen County Housing Market Doing Right Now? A January 2027 Update

Every January I get the same question from two groups at once: sellers wondering whether to list in winter, and buyers wondering whether spring will bring more choices or higher prices. Based on the data that closed out 2026, Bergen County heads into 2027 as it spent the past year: expensive, tight on supply, and competitive, with a normal January pause that creates opportunity on both sides. Here is the year-end wrap and the 2027 outlook.

The Numbers That Closed Out 2026

The most recent finalized countywide release at this writing is the September NJ REALTORS Local Market Update. The single-family median sale price was $835,000, up 1.2% year-over-year, on closed sales up 6.9%. Year-to-date through September, the countywide median ran about $885,000, up 4.1%. Sellers received 103.4% of list price, and the median home sold in about 34 days.

The NJ REALTORS and Greater Bergen Realtors datasets measure slightly different pools but tell the same story: appreciation cooled from the double-digit pace of recent years to a low-single-digit crawl, while competition stayed intense. My November market update has the full breakdown, and the Bergen County affordability guide translates these figures into monthly payments.

Mortgage Rates: Easing Into 2027

The November 5 Freddie Mac survey confirmed the 30-year fixed-rate mortgage at 7.18 percent, down six basis points from 7.24 percent the prior week and the third consecutive weekly decline from the 7.40 percent mid-October peak, the highest level since late 2023. The 15-year fixed averaged 6.57 percent. A year earlier the 30-year averaged 6.22 percent, so affordability remains the defining pressure on buyers.

For anyone planning a 2027 purchase, the advice is unchanged: get pre-approved now, lock when the home and terms work, and do not wait for a dramatic break lower. A quarter-point of rate movement changes a monthly payment by roughly $100 per $300,000 borrowed.

Inventory: Still a Seller's Market

Supply is the number that has not changed all year. The finalized September figures show about 1,118 single-family homes for sale, up 7.9% year-over-year, or roughly 2.6 months of supply. A balanced market needs about six months, so Bergen County remains firmly in seller's territory, even as the seasonal build-up of listings gives buyers marginally more to choose from than in the spring.

The townhouse and condo segment is where supply is genuinely shifting: a median of $527,000, up 5.6%, on 667 units for sale, up 14.2%, and about 3.7 months of supply. That is more inventory than the single-family side while still appreciating faster, an unusual combination that makes condos the most realistic entry point, especially along the waterfront in Fort Lee and Edgewater. The Fannie and Freddie review changes covered in my condo guide remain a factor there.

What January Sellers Should Know

January is the slowest selling month of the year, and that is exactly why it can favor sellers. Inventory is at its seasonal low, the buyers touring are serious, and well-priced homes still attract real competition. My selling timeline guide shows the same market moving in about 26 days in April and roughly 87 days in January, so price accurately and be patient with the pace.

The other January edge: buyers outbid all fall often return after the holidays with fresh pre-approvals. A home that is clean, priced right, and ready for photos stands out dramatically in a thin January market.

What January Buyers Should Know

• Get your financing locked down before you tour. With homes selling above list, a pre-approval is non-negotiable.
• Use the quiet month to see towns as they really are. Winter shows you which downtowns stay active and which parks get used.
• Run the full monthly math, not just the price. Property taxes vary sharply by town and can change the real picture.
• Look beyond the most competitive addresses. Teaneck, Cliffside Park, and Palisades Park often deliver strong commutes at better value than the premium waterfront towns.

The 2027 Outlook

Three forces will shape Bergen County in 2027. First, rates: if the November easing continues, the buyer pool widens and spring competition strengthens, so consider buying before the spring rush. Second, condo supply: the steady build-up of townhouse and condo listings gives downsize buyers real leverage they have not had in years. Third, the NJ-to-Florida pipeline: demand from Bergen County sellers moving south to Palm Beach and Broward Counties keeps two-sided moves active and the lock-and-leave condo market liquid.

My November, October, and September updates carry the full arc of the year, and the Northern NJ Updates page tracks new releases as they land.

If you are weighing a 2027 move, January is a good time to start the conversation: the data is fresh and the market is quiet. Reach me at (201) 970-3960 or Scott@sellecksellsnj.com, or book a free discovery call below.