Bergen County Defies National Market Trends as Inventory Shortage Sustains Seller’s Market

Written by:

Steve Marcinuk

Date:

12 Feb 2026

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While many U.S. housing markets have cooled or shifted toward buyers, Bergen County, New Jersey, remains one of the few high-priced suburban areas where sellers continue to hold the advantage. This persistent seller’s market, in contrast to broader national trends, highlights how local factors such as proximity to New York City, strong demand from commuters, and limited inventory can override national patterns.

A Market That Won’t Budge

Bergen County’s housing market is shaped by its role as a preferred suburb for Manhattan professionals. Located approximately 20 minutes from New York City, the area attracts buyers seeking suburban amenities without sacrificing access to urban employment.

Cheryl Cooper, a 30-year real estate veteran and leader of The Cheryl Cooper Group, says the market rarely softens, even when national trends point to a slowdown. “Every time we think it’s going to turn, it fools us, and it still stays a seller’s market,” Cooper says.

This geographic advantage ensures steady demand, especially for homes priced below $800,000. These properties typically attract multiple offers within the first week, and slow sales usually signal unrealistic pricing rather than a lack of interest.

Inventory Shortage Fuels Competition

The primary force behind Bergen County’s seller’s market is a chronic lack of inventory. Cooper recently listed three properties, all of which received multiple offers. Buyers often face intense competition for every new listing, regardless of property type.

“People can’t get into townhomes, can’t get into condominiums, can’t get into residential homes, because every time something comes on the market, they’re garnering 5, 6, 7, 10, 15, even 20 offers,” Cooper says.

This scarcity has driven absorption rates so low that, according to Cooper, the current level of demand could sustain a seller’s market for another 18 months, even if no new buyers enter the market. As a result, prices are rising across all segments, and buyers are forced to act quickly and decisively.

The Lock-In Effect and Pricing Tactics

Bergen County, like many markets, contends with the mortgage rate lock-in effect. Homeowners with sub-3% interest rates are hesitant to sell and assume higher payments, thereby further restricting supply. Cooper acknowledges this reality in her work with both buyers and sellers.

“I have told many people recently, stay where you are, don’t move yet. It’s not time,” she says. Cooper often finds herself in the role of advisor, encouraging clients to wait if they are not ready for the financial or logistical challenges of moving.

For those who are prepared to sell, Cooper recommends pricing slightly below market value to generate multiple offers and create auction-like conditions. “Start at just a little bit under market value, and that most likely will cause an auction event and get them a higher price for their home,” she explains.

Educated buyers, however, are not willing to overpay by a wide margin. Sellers who price too high based on recent peak sales often face the need for price reductions if their homes linger on the market.

Market Segmentation

Bergen County’s housing market operates at different speeds depending on price point. Homes under $800,000, if priced correctly, usually sell within a week. Properties in the $800,000 to $1.2 million range may take slightly longer but still attract multiple bids.

For amounts above $2 million, the luxury segment requires greater patience and higher standards. Homes in this range can sit on the market for 60 to 120 days and must be exceptional to attract buyers. Cooper advises that properties over $2 million must be more than move-in ready, with high-end appliances and finishes.

New construction prices have also risen sharply. Cooper recently completed sales at a 37-unit condominium project that started in the mid-$700,000s four years ago and finished with units priced at $1.3 million, reflecting rising construction costs and continued demand.

First-Time Buyer Hurdles and Strategies

For first-time buyers, Bergen County’s competitive landscape requires a flexible approach. Cooper urges these buyers to focus on properties with cosmetic needs rather than fully renovated homes. “Don’t buy a home that’s completely done for you, because in five to seven years, you’re not going to be able to say that I have a new kitchen or new bathrooms,” she advises.

By purchasing homes that need updates, buyers can add value over time and avoid paying a premium for turnkey properties. Cooper also recommends that buyers with budgets of $800,000 start their search around $700,000, anticipating that bidding wars will drive up final sale prices.

This strategy is necessary in a market in which buyers often must exceed their initial budgets to secure a home. Many first-time buyers are forced to compromise on location or condition, but those who are willing to invest in improvements can build equity while entering the market at a lower price point.

Property Taxes Add Complexity

Bergen County’s high property taxes present an additional challenge for buyers. Recent reassessments have led to significant increases — Cooper herself saw her annual tax bill rise by nearly $2,000. While these costs rarely prevent sales, they often come as a shock to buyers unfamiliar with the area.

“It’s expected, but it’s certainly sticker shock,” Cooper says. She advises clients that high taxes are a reality of life in Bergen County and are unlikely to change significantly.

Some municipalities have seen organized resistance to tax increases, but the success of appeals varies widely. Local assessment practices and court decisions play a significant role in determining whether homeowners can reduce their bills.

Market Outlook: Slower Appreciation, Persistent Demand

Looking ahead, Cooper expects home price appreciation to slow to 2-4% annually, compared to the higher single-digit increases seen in recent years. This moderation reflects a maturing market and growing affordability concerns, particularly among younger buyers.

High prices and taxes have made it difficult for many younger families to buy in Bergen County, leading to what Cooper calls generational displacement in some neighborhoods. “The young people have been driven out of Bergen County,” she observes.

Despite these headwinds, the underlying imbalance between supply and demand is likely to keep the market competitive. With mortgage rates stabilizing in the 6% range, historically typical levels, Cooper predicts more buyers will re-enter the market, reinforcing current trends.

Risk Management and Market Stability

Unlike during the 2008 financial crisis, today’s Bergen County market does not exhibit systemic risk. Lenders are enforcing strict qualification standards, and buyers face thorough vetting. “This is not 2008. Mortgage companies are not just handing out mortgages to anybody who has a pulse,” Cooper says.

The main risk comes from buyer behavior in a frenzied market. Many buyers waive inspections and appraisal contingencies to strengthen their offers, exposing themselves to unforeseen repair or valuation issues after closing. While this speeds up transactions, it can lead to costly surprises for new homeowners.

The Value of Local Knowledge

Bergen County’s experience shows how local realities can override national market trends. Geographic proximity to Manhattan, strong commuter demand, and a chronic inventory shortage have created a market that remains firmly in sellers’ hands.

For real estate professionals elsewhere, Bergen County illustrates the limits of applying national narratives to local markets. Proximity to employment centers, community appeal, and the basic math of supply and demand often matter more than national economic trends.

As Cooper puts it, “You can’t just pigeonhole us with New York, New Jersey, and Connecticut. We’re just different. Our market is different.” This underscores the importance of local expertise and market knowledge in accurately assessing housing conditions.

In the year ahead, Bergen County’s seller’s market is likely to persist, shaped more by the area’s unique blend of demand, scarcity, and location than by national forces. For buyers and sellers alike, understanding these local dynamics will be key to making informed decisions in one of the nation’s most competitive suburban markets.