What Is the Bergen County Housing Market Doing Right Now? A November 2026 Update

If you have been following Northern New Jersey real estate, the November headline is a familiar one with a fresh set of numbers: prices are still elevated, inventory is still tight, mortgage rates have eased a bit from their October high but remain well above a year ago, and the market is settling into its normal seasonal slow-down as the holidays approach. The most recent finalized figures, the September NJ REALTORS county numbers, give us the clearest snapshot of where Bergen County actually stands. Here is an honest read on the market right now.

The Big Number: September Median Price of $835,000

Bergen County is the most expensive major market in New Jersey, and the finalized September figures confirm it is still climbing, just more slowly. According to the NJ REALTORS Local Market Update for Bergen County single-family homes, the median sale price was $835,000 in September, up 1.2% year-over-year, on 483 closed sales, up 6.9%. Sellers received 103.4% of list price on average, which tells you how competitive the market still is. Greater Bergen Realtors' separate September figures put the single-family median at $825,000, up 0.6%, on closed sales up 3.3% to 444; the two datasets measure slightly different pools, and the direction is the same: appreciation has cooled from double digits to a low-single-digit pace, and the fall slow-down is normal, not a correction.

For a full breakdown of what these figures mean for your budget, see our Bergen County affordability guide.

Mortgage Rates: The October 29 Survey Dips to 7.24 Percent

The Thursday, October 29 Freddie Mac Primary Mortgage Market Survey pulled the 30-year fixed-rate mortgage down to 7.24 percent, an 8-basis-point dip from the 7.32 percent reading the prior week, with the 15-year fixed averaging 6.60 percent. The dip follows the mid-October stretch when rates touched 7.40 percent, the highest level since late 2023, and the market is now settling just under that high as November opens. A year earlier the 30-year averaged 6.17 percent, so affordability is still the defining pressure on buyers. The next weekly survey lands Thursday, November 5, and the early read is encouraging: daily rate trackers on November 5 showed the 30-year averaging near 7.05 percent, roughly two-tenths below the last official survey and the first real relief since the mid-October high. For buyers, the practical advice has not changed: lock when you find the home and the terms that work rather than waiting for a dramatic break lower. For sellers, rates still well above a year ago reinforce the same discipline: price accurately from day one, because the affordability math is tighter for the buyers you are competing for.

Inventory: 2.6 Months of Supply Keeps the Market Tight

The defining pressure point remains low supply. The finalized September figures show about 1,118 single-family homes for sale, up 7.9% year-over-year, which works out to roughly 2.6 months of supply, up from 2.4 months a year earlier. A balanced market needs about six months, so Bergen County is still firmly in seller's territory, even as the seasonal build-up of listings gives buyers a little more to choose from than they had in the spring.

That scarcity still cuts both ways. Sellers keep strong pricing power, while buyers face fewer choices and fast-moving competition. My practical advice has not changed: get pre-approved before you start touring, and be ready to act when the right home appears.

Days on Market: 34 Days and Climbing Seasonally

Homes in September sold in a median of about 34 days, up from 31 a year earlier, at 103.4% of list price. The seasonal cool-down is showing up in the pace rather than in prices, which is exactly what a normal fall looks like. Our guide to selling timelines shows the same market moves in about 26 days in April and roughly 87 days in January, so expect the pace to keep slowing as the holidays approach.

For sellers, the takeaway is unchanged: pricing matters more than almost anything else. Homes priced correctly from day one attract real competition. Overpriced listings sit, grow stale, and ultimately sell for less.

Condo Segment: More Inventory, Faster Appreciation

The condo and townhouse segment is where the county's supply picture is actually changing, and the September numbers make the case. The townhouse and condo median was $527,000, up 5.6% year-over-year, which is a faster pace than the single-family segment's 1.2%. Inventory in that segment reached 667 units for sale, up 14.2%, working out to about 3.7 months of supply against 2.6 for single-family homes. Read together, those figures say the entry-level and downsize-friendly end of the market is adding choices faster than the single-family end while still appreciating faster, which is an unusual and useful combination for buyers.

That gap makes the condo market the most realistic entry point for buyers priced out of premium single-family towns, especially along the waterfront in Fort Lee and Edgewater, and the natural landing spot for Bergen County homeowners trading a colonial for a lock-and-leave unit before a Florida move. Our August market update covered the condo segment's stabilization in detail, and the Fannie and Freddie review changes for condo buildings remain a factor to plan around in that segment.

What This Means for Buyers

• Get your financing locked down. With homes selling above list and often in just over a month, a pre-approval is non-negotiable.
• Consider the full cost, not just the price. Property taxes and commute costs vary sharply by town and can change the real picture.
• Look beyond the most competitive towns. Teaneck, Cliffside Park, and Palisades Park often offer better value than the most expensive addresses while still delivering strong commutes.

What This Means for Sellers

• The conditions still favor you. With roughly 2.6 months of supply and sellers receiving 103.4% of list, it remains a seller's market.
• Price accurately from day one. Well-priced homes spark competition; overpriced ones sit and erode buyer confidence, especially as the market slows seasonally.
• Plan your next step. If you are selling and moving on to Florida or another market, coordinate the timing of both sides of your move, and remember that the holiday window narrows the listing calendar.

The Bottom Line for November 2026

Bergen County's market remains competitive, expensive, and supply-constrained, with a normal seasonal slow-down underway as the holidays approach. Rates have eased a little from their October high, which helps at the margin, but affordability is still the story. Buyers who are organized and know where to look can still find opportunity, especially in the condo segment and in value towns.

I track these numbers daily as a REALTOR licensed across Bergen and Hudson Counties since 1993, and countywide averages only tell part of the story. For a read on what this data means for your specific situation, I am glad to help. The October 2026 update in this series is here, and the September 2026 update is here.