River Edge NJ Real Estate: Guide to Buying and Selling Homes

River Edge, New Jersey, is a small town with a big appeal. It’s a great place to live if you’re looking for a friendly suburban community with access to everything you need. For both buyers and sellers, understanding the housing market and community features is important to making the best decisions. Let’s dive into the numbers and details about life in River Edge to give you a clear picture of what’s happening in the real estate market.

The Real Estate Market: Prices and Trends

The median estimated home value in River Edge is $750,000. This number is slightly higher than the average for Bergen County, which is $728,000, and much higher than the state and national averages. Over the past year, home values in River Edge have stayed mostly the same, with a small increase of just 0.2%. However, the median list price for homes has gone up by an impressive 38.4%, reaching $689,000. This shows that sellers are confident in the value of their homes and that buyers are willing to pay more to live in this desirable area.

River Edge is mostly a town of homeowners, with 78% of residents owning their homes and only 22% renting. This stability adds to the appeal for buyers, as it creates a strong sense of community. The homes in the area are older, with a median age of 74 years, compared to just 43 years nationwide. This gives the town a lot of character but also means buyers should carefully inspect homes for maintenance needs.

Top Reasons to Buy a Home in River Edge

1. Proximity to New York City

River Edge is ideal for commuters, offering a manageable 35-minute average travel time to Manhattan. Residents benefit from convenient access to major roads like Kindermack Road, as well as public transit options including NJ Transit buses and trains. This makes River Edge a commuter-friendly suburb for professionals seeking a quiet, family-focused lifestyle.

2. Excellent Schools

Families are drawn to River Edge for its highly rated school system. Local schools like Cherry Hill Elementary School, Roosevelt Elementary School,  River Dell Middle School and River Dell High School offer top-notch education, making this town a fantastic choice for families with children.

3. Lifestyle and Recreation

River Edge is home to beautiful parks like Veterans Memorial Park and offers easy access to natural attractions such as the Hackensack River and Oradell Reservoir. These outdoor spaces provide ample opportunities for hiking, biking, and picnicking, making the town appealing to those who love an active lifestyle.

Who’s Buying and Selling?

If you’re looking to buy a home in River Edge, it’s important to know what’s popular. Many homes that sold recently were priced between $500,000 and $750,000, which is where most of the market activity is happening. This price range offers options for buyers looking for mid-range homes in a great neighborhood. Larger, higher-priced homes (over $1 million) make up a smaller portion of the market, but they are still available for those seeking more space or luxury features.

The size of homes also matters. Most homes sold recently were between 1,000 and 3,000 square feet, making them a good fit for families. Homes that are smaller or much larger are less common, but they are still an option depending on your needs and budget.

Economic Strength and Community Stability

River Edge boasts a median household income of $150,073, which far exceeds the national average of $75,149. This affluence contributes to the town’s stability and appeal, as residents have the financial resources to maintain and improve their properties. The area’s strong economy also supports a vibrant housing market, making River Edge an excellent long-term investment for buyers.

Population trends in River Edge are worth noting. The town has about 12,000 residents, but the population has decreased slightly by 1.7% since 2020. This contrasts with slight population growth in Bergen County and the rest of New Jersey. This could impact housing demand over the long term, so both buyers and sellers should keep an eye on future trends.

Lifestyle and Quality of Life

Living in River Edge offers a lot of perks. The town is close to major cities, which is why the average commute time for residents is 35 minutes. This makes it a great spot for people who work in nearby urban areas but want the peace and quiet of a smaller town. The area’s public transportation options also make commuting easier, with many residents using buses or trains to get to work.

River Edge experiences about 45 inches of rain and 21 inches of snow each year, providing a typical Northeast climate. The town enjoys 83 days of full sun per year, making it perfect for enjoying outdoor activities during the warmer months.

The People of River Edge

River Edge has a median age of 40, which is slightly younger than the county average. The town’s population is well-educated, with many residents holding college or advanced degrees. This makes the community a great place for families who value education.

Families with children will find plenty of resources in River Edge. The town has a high percentage of households with kids, and the schools in the area are well-regarded. This is another reason why homes in River Edge are in high demand, especially for families looking for a stable and safe environment.

For Buyers: What You Should Know

If you’re thinking about buying a home in River Edge, be prepared for competition. The rise in list prices over the past year shows that the market is hot. Many homes sell quickly, especially those in the $500,000 to $750,000 price range. Focus on finding a home that fits your budget and needs, and act fast when you see one you like. Be ready for older homes with lots of charm, but make sure to check for any repairs or updates that might be needed.

Tips for First-Time Homebuyers in River Edge

Buying a home for the first time in River Edge can be both exciting and challenging. Here are some tips to help you navigate the process:

1. Understand Your Budget: Use online tools like mortgage calculators to determine what you can afford. Remember to factor in property taxes, which are higher in New Jersey than in many states.
2. Act Quickly: Homes in popular price ranges often sell fast, so be prepared to make a strong offer when you find the right property.
3. Inspect the Property: With older homes being common in River Edge, a professional inspection is essential to uncover potential maintenance needs.
4. Work with a Local Agent: An agent with experience in Bergen County can help you find the perfect home and guide you through the negotiation process.

For Sellers: Why Now is a Great Time

With a sharp increase in median list prices and sustained buyer interest, River Edge is currently a seller’s market. Homes that are competitively priced and well-maintained are likely to sell quickly, especially those in the $500,000 to $750,000 range. Larger homes over $1 million cater to a niche market but can still attract buyers seeking luxury living close to New York City.

Maximizing Your Sale Price

To sell your home for the best price:

• Focus on curb appeal to make a strong first impression.
• Stage your home to highlight its best features.
• Consider small updates, such as repainting walls or upgrading fixtures, to make your property stand out.
• Use a comparative market analysis to determine the ideal listing price.

Working with a Real Estate Agent

Partnering with a local real estate agent who understands the River Edge market is essential. Agents can help you navigate tools like the MLS (Multiple Listing Service), market your property effectively, and connect you with qualified buyers. Look for an agent experienced in Bergen County to ensure your property is competitively positioned.

Why River Edge is a Great Place to Live

Whether you’re buying or selling, one thing is clear: River Edge is a wonderful place to call home. With its strong schools, convenient location, and community feel, it offers something for everyone. The town’s financial stability and real estate market trends make it a smart choice for long-term investment.

If you’re ready to take the next step in buying or selling a home in River Edge, make sure to reach out to a local real estate expert. They can help you navigate the market and find the perfect fit for your needs. River Edge isn’t just a place to live—it’s a place to thrive.