While real estate markets across the country are cooling and buyer activity is declining, northern New Jersey stands out as a region where demand remains strong, and competition among buyers is intense. The area’s luxury market continues to attract qualified buyers, with many properties receiving multiple offers above the asking price.
Armene Abbattista, team leader at The Abbattista & Marquez Team with Keller Williams Prosperity Realty, has seen this market strength firsthand. Her team, which focuses on Morris County and nearby areas, specializes in luxury homes and estates, often listing properties above $1 million.
“We’re still seeing very competitive markets. We’re still seeing bidding wars,” Abbattista says. “You put out a house, price it properly, market it very well, and you are still getting about 80 or 100 people coming to our open houses per house.”
This level of buyer turnout contrasts sharply with other regions, where homes linger on the market, and sellers face pressure to offer concessions. Northern New Jersey’s ongoing momentum highlights how local factors can override broader national trends.
Abbattista’s approach is shaped by a broad background in real estate, spanning legal, mortgage, and sales roles. She began her career during the market crash, working for a real estate attorney before moving to a mortgage-servicing company in Jersey City, where she managed distressed-property portfolios and coordinated foreclosure auctions.
“I did the mortgage side, right now I’m doing the selling side, so I really hit all sides of real estate,” she explains. Her experience with contracts, legal processes, and lender requirements gives her a comprehensive understanding of transactions. This background enables her to guide clients through the complexities of today’s market, with a focus on education and on setting clear expectations from the outset.
Northern New Jersey’s sustained demand is driven by several factors: proximity to New York City, highly rated school districts, and a reputation for stable property values. In towns like Montville, where Abbattista’s team is based, buyers remain eager to compete for limited inventory.
“For every house that hits the market, there are usually 20 to 30 very qualified, eager buyers looking at it,” Abbattista says. “Inventory is still very low.”
This persistent shortage of homes keeps sellers in a strong negotiating position. Unlike markets where sellers are forced to offer concessions or mortgage rate buydowns to attract buyers, northern New Jersey sellers routinely expect multiple offers, waived contingencies, and little need to negotiate on price or repairs.
“The sellers are still living large, flying high. They really expect patience to get multiple offers over asking, and they expect everybody to waive appraisals and inspections,” she notes. “They’re not giving the buyer anything. It’s still very much a seller’s market.”
Given these conditions, Abbattista’s team has developed a highly structured approach to representing buyers. Rather than chasing a market that continues to rise, they set clear parameters and prepare clients for the realities of competition.
“We go over and set their expectations properly so they know the market conditions, they know the price point, they know what they’re getting,” she says. “We don’t want to be chasing the market. If we start really low and then we keep going and chasing our way up, the market moves up, and then they’re moving up, and then they’re just chasing themselves.”
This disciplined strategy helps buyers act decisively and avoid frustration. As a result, her team typically helps clients secure homes within 30 to 60 days of starting their search, despite the intense competition.
While northern New Jersey remains strong, Abbattista notes that conditions vary widely across the country. She points to regions like Florida, where oversupply and slower sales have created a very different environment. “I know other parts of the country because I have friends and family who have homes that are struggling to sell. For example, in Florida, there’s just an oversupply. There’s too much inventory,” she observes.
For investors looking at northern New Jersey, Abbattista recommends focusing on areas near New York City but not yet at peak prices. “I would recommend that they go somewhere closer to areas like maybe North Bergen, where it’s close enough to New York City but still not very expensive yet, and also areas closer to the shore but not locations that are on the beach where they’re already overpriced.”
Looking ahead to the rest of 2026, the direction of interest rates will be the most important factor shaping the market. Abbattista expects that even a modest decrease in rates could significantly impact both buyer demand and inventory levels.
“If an interest rate is 6% and then in three months from now the interest rate is 5%, that one extra percent gives any buyer about another hundred thousand dollars worth of buying power,” she explains.
Lower rates could encourage more current homeowners to list their properties, increasing inventory and giving buyers more options. However, increased buying power could also drive additional competition and keep prices high, even as affordability improves.
With years of experience across different market cycles, Abbattista has learned to read buyer behavior closely. She says the clearest sign a buyer has found the right home is their reluctance to leave during a showing. “You always know when it’s the right home when the buyer does not want to leave the house,” she observes. “When you see that and when the buyer feels that, you want to go all-in, no reservations, just a leap of faith. If you want it, you go for it. Don’t overthink it.”
This insight underscores the importance of preparation and decisiveness in a market where hesitation can mean losing out to another buyer.
As 2026 progresses, The Abbattista & Marquez Team is expanding its operations, working on new developments with builders, and adding team members to meet growing demand. Their focus remains on the luxury segment, which has shown the most resilience against broader economic pressures.
Northern New Jersey’s ongoing market strength highlights the importance of understanding local dynamics. While national headlines may suggest a broad real estate slowdown, the reality in this region is sustained competition, limited inventory, and strong seller pricing power.
For buyers and sellers in northern New Jersey, the message is clear: success depends on preparation, realistic expectations, and the ability to make quick, informed decisions when opportunities arise. The region’s market continues to operate independently of national trends, reminding industry professionals and consumers alike that real estate is always a local story.
As interest rates and economic conditions evolve, the region’s resilience will be tested. But for now, northern New Jersey remains one of the few markets in the country where strong buyer demand and competitive dynamics continue to define the landscape.
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