River Edge, NJ Real Estate Market: What Buyers and Sellers Need to Know

Discover River Edge Homes: Insights and Trends

River Edge Homes represent a compelling opportunity in the Bergen County real estate market, where the blend of suburban charm and urban convenience attracts a diverse range of buyers. As the market experiences consistent growth and evolves to meet the needs of its residents, understanding the latest trends and insights becomes essential for potential investors and homeowners alike. With an array of property types and community amenities, navigating this competitive landscape requires strategic insight and local expertise. What factors are shaping the future of River Edge, and how can buyers position themselves advantageously?

Introduction

River Edge, NJ, stands out as a compelling choice for homebuyers seeking a balance between suburban serenity and urban accessibility.

Situated in Bergen County, this charming community offers residents a peaceful lifestyle while maintaining proximity to metropolitan conveniences in New York City.

With a rich cultural landscape, residents enjoy a variety of local events and recreational activities that foster community engagement.

Safety is a significant draw, as the area boasts low crime rates, making it particularly appealing for families and retirees.

Additionally, River Edge benefits from access to quality healthcare services with many nationally ranked hospitals and medical facilities nearby, ensuring residents’ well-being.

The moderate climate further enhances the region’s attractiveness, providing distinct seasons ideal for outdoor activities, which contribute to a vibrant and fulfilling living experience.

The River Edge Real Estate Market

The River Edge real estate market is characterized by consistent growth and a diverse array of property types, including single family homes, townhouses, coops and apartments.

Current trends indicate a robust demand, which has led to competitive pricing and fluctuating inventory levels. River Edge has always seen consistent growth in home values due to proximity to Manhattan and job opportunities, amenities, and highly rated schools.

Buyers are increasingly attracted to the area not only for its housing options but also for its vibrant community and convenient access to urban amenities.

The main issue we have seen in recent years in River Edge is supply of homes for sale. Economic factors like rising interest rates and rising prices of general goods have kept many sellers in their homes longer.

In 2020 and 2021 we saw interests drop to historic lows resulting in a large increase in both buyers and refinancing of current homes. Now many of these homeowners with a rate in the area of 3% are finding it difficult to move because their living expenses will go up dramatically.

This trend has kept both move up and move down buyers in their homes longer resulting in a housing shortage in River Edge.

Current Market Trends

Ongoing trends in the River Edge real estate market indicate a robust and competitive landscape, characterized by consistent demand and rising property values.

As you can see from the data below the average sales price for a single family home has increased 33% since 2020. This is in large point due to an influx of buyers from local cities like New York, Hoboken and Weehawken due to the Covid pandemic and the drastic drop in interest rates during that time.

2020: $588,584
2021: $652,955
2022: $731,365
2023: $782,905

But as the buyer pool increased the seller pool decreased based on the factors we already discussed.

Buyers are increasingly drawn to the suburban charm combined with urban accessibility, leading to swift sales and limited inventory.

Key factors contributing to these trends include:

Strong Demand: High interest from families and professionals seeking quality living conditions fuels competitive bidding.
Rising Property Values: An upward trajectory in home prices reflects the area’s desirability and investment potential.
Seasonal Inventory Fluctuations: Available properties can vary throughout the year, urging buyers to stay informed and ready to act. Our “Spring” market typically starts as early as February with buyers looking to take advantage of local schools become the following term begins.

Types of homes available

River Edge has always had a large variety of housing stock featuring many different types. This a result of the way River Edge was originally developed and how it expanded over time.

The oldest homes still standing in River Edge are situated along Summit Avenue between Continental and Midland Avenues. Here you can find stately colonials with original styling inside and out, as well as 2 large estates at the corner of Lincoln Avenue.

As you move south in River Edge you can see how the town expanded with a few differing housing styles. Between Continental and Howland Avenues you will find mostly colonial homes built in the 1930s and 1940s. Many of these homes were built by Frank Reis are are affectionally called Reis Colonials by locals.

In this area yo will also find streets of mainly cape cods and some split levels along Elm Avenue. This was all part of the post World War 2 boom that we saw around Bergen County.

On the south side of Howland Avenue you will see the next round of expansion with predominantly ranch style homes. These single story homes sit on larger lots than much of town. Over time we have seen many of these home expanded to include a second level turning them into true colonial homes.

This variety not only enhances buyer choice but also contributes to the overall appeal of River Edge as a desirable residential destination.

New Construction Homes

As we mentioned in the previous section we have seen many of the older ranch homes added onto to make them colonials. This expansion to larger homes has been seen throughout the borough as families look for more living space as well as backyard amenities like decks, patios, and pools.

The rise of new construction homes has had a big impact on the town though it is still a very small percentage of the overall housing stock.

An interesting fact illustrates this trend. In 2005 River Edge had its first $1,000,000 home sold. That is not surprising since at the time the average homes sale was about $500,000.

River Edge did not see another $1,000,000 residential sale for 14 years but since then, between 2019 and 2023 there have been 47 homes sales over $1,00,000.

What does this mean for the future of River Edge real estate?

It means that people see value in the town and are willing to pay big money to live here. It also means that many who grew up here and want to live in their hometown can’t buy a new or renovated home.

So another side effect of this is homeowners buying their “starter home” then over time expanding it to fit their needs. This can be a most cost effective way of getting the home you want without the much higher price tag. We see time and time again where residents move in and don’t want to leave so they adapt their home to fit their changing needs.

Attractive Amenities of River Edge

Though River Edge is one of the smaller communities in Bergen County with a population around 11,000 it still has a wide array of amenities. Some of these amenities include the River Edge Swim Club, Veterans Memorial Park, and Van Saun Park (though its a county park much of it is in River Edge). Add this to a wealth of options around Bergen County and you have literally a million things to do around River Edge.

River Edge Library

I have always felt that the library is the heart of any good suburban town and River edge is no exception. The River Edge Library offers a large physical collection of books, periodicals, and digital media but also has access to wide variety of publications online in audio books, digital books and more. With its membership in the Bergen County Cooperative Library System it provides access to 1,000s of titles both physical and digital.

The Library also offers weekly programs for adults and children with movie showings, ELA classes, summer reading program and much more. It truly is a cornerstone of the community offering something for everyone.

River Edge Schools

The River Edge Public School District serves children from Pre K to 6th grade in 3 schools, Cherry Hill Elementary, Roosevelt Elementary, and Newbridge Center. These highly rated schools prepare borough students for future schooling in a nurturing and academically challenging environment.

River Dell Schools District comprises two schools, River Dell Middle School and River Dell High School. This district serves both River Edge and neighboring Oradell in grades 7-12. Highly regarded as one of the best school districts in the state both academically and athletically River Dell provides a balanced and challenging environment for all learners.

What makes a community truly desirable?

To truly find a community that meets your needs you need to look past just the physical places located there. You need to look at what makes the community unique and in River Edge its the people. River Edge residents take pride in their community, their schools, and their activities. They wear their Hawks gear and cheer on the local baseball and softball teams, they attend the high school football games.

To promote that community spirit there are many events that are always well attended including:

River Edge Day
4th of July Parade and Carnival
Music in the Park
River Edge Bunny Hop
North Jersey Partners Coat Drive
India Day

These events bring together residents new and old to learn more about the town and meet new friends.

Proximity to NYC

The proximity to New York City is a major reason why River Edge is an attractive town for families and professionals. With easy access to NYC through public transportation via bus or train and major highways connecting the George Washington Bridge, Lincoln Tunnel and Holland Tunnel River Edge is ideally situated for any commuting to New York for work.

River Edge has two train stations on the Pascack Valley train line at River Edge Station and Newbridge Landing Station. From these stations you can connect at Secaucus or Hoboken to reach points in Manhattan within an hour.

There are also bus options along Kinderkamack Rd with the 165 and 165R bus as well as the Rockland Bus that will get you to Port Authority in under an hour typically.

Tips for Home Buyers in River Edge

Buying a new home can be a stressful process, especially in a low inventory market like River Edge typically has. But there are ways to be prepared before entering the market that will alleviate some of that stress and give you a better chance at succeeding.

We will discuss some of these in this section but the first thing you absolutely need to have is a mortgage pre approval from a reputable lender. This will provide two critical pieces of information: the amount you should be qualified for, and what you monthly payment will be. Without this information you could be wasting time and potentially miss out on your dream home.

Without getting into the entire process of buying a home we will walk you through some of the things you should know and research to be an educated buyer in River Edge and surrounding communities.

Navigating the competitive market

As we discussed earlier River Edge typically has more buyers than sellers and most well priced homes receive more than one offer. This makes preparation and education very important.

Here are some essential tips to enhance your home-buying experience:

Research Neighborhoods: Familiarize yourself with various neighborhoods, analyzing amenities and community culture to find the best fit.

Do you need to be near schools or parks or public transportation?

What style home are you looking for? Do you want a bigger lot?

Do you want low maintenance?

These all factor in to what part of town you should look at.

Engage Local Experts: Partner with a knowledgeable real estate agent who understands the nuances of the River Edge market and can provide valuable insights. In competitive markets it becomes even more advantageous to hire a local knowledgeable agent. That agent will know the market, the housing stock, how things work in town, and have a relationship with other local agents.

Evaluate Long Term Value: Focus on properties with strong appreciation potential, considering future developments that may enhance livability and investment returns. Location is always important in real estate so you should evaluate whether the house you buy has the agility to appreciate similar to or better than the neighborhood.

Selling Your Home in River Edge

Selling your River Edge home is not simply about putting a sign in the lawn and listing it on the MLS. It requires strategic planning to attract the ideal buyer. That includes proper pricing, staging, and marketing to that ideal buyer.

We will discuss how you can plan ahead to achieve the best results of a high sale price, attractive terms, and a quick closing.

Staging Your Home for Success

Staging your home allows you to present your home in a way that is attractive to buyers. The intent is to show off the space you have, allow the buyer to see themselves living in the home, and shows off the quality of the finishes and overall appeal of the home.

The main thing most sellers need to do is declutter and depersonalize. This involves removing most if not all of your personal pictures, knick knacks, and other items that take up wall space. You want the buyer to envision their family photos and their artwork on the walls. This doesn’t mean bare walls, it just means making the home less about you and more about a vision of the home.

Next up is decluttering, which involves removing unneeded items in the home. Remove all items off your counters and replace with a bowl of fruit or a vase with flowers. Take out furniture that makes the room small or rearrange it to make it flow better. Take an honest look at your rooms and logically see how it can look better and bigger to your prospective buyer pool.

Make Necessary Repairs

It is usually not necessary or recommended to make major renovations before selling but some work usually needs to be done. We all know the deferred maintenance we have been putting off like:

fixing a broken light fixture
touching up paint
fixing the leaky faucet
steaming carpets
power washing the deck and siding

These are a few items that if not addressed ahead of time can make your home look uncared for. They may assume more things were not maintained and be less inclined to bring a solid offer. So you need to look critically at your home and determine what should be fixed. A knowledgeable real estate agent can advise on what items should be prioritized for maximum return on investment.

Pricing Your Home Strategically

It can be tempting to price your home high and “see how it goes”. I have heard this countless times from sellers who value their home higher than the market will and it very rarely works.

There are two main reasons this doesn’t work. When buyers are looking for a home they have a budget and they really only look at homes within that budget. If you price your home too high the ideal buyer who can afford your home won’t see it. That prevents qualified buyers form even walking in the door.

Secondly it makes your home look less attractive in comparison to other homes on the market. You may argue that with so few homes in River Edge I can price it high. But what I have seen in over a decade in this business is most buyers are not just looking in one town, they have at least two if not more towns they like. So you need to be attractive in your price range. If you price too high then a buyer is comparing it to homes that might be bigger, in a better location, or be more renovated.

So our approach is always to price in line or just below the market value. This puts the home on the radar of the buyers who can afford your home and makes it attractive against the competition. the intent here is to negotiate with multiple buyers to drive the price up and provide better terms for you as the seller.

Attracting the ideal buyers

The first step in attracting the ideal buyer for your homes is to identify them but how do you do that? First look at why you bought your home, what made it the right fit for you, what features were important, what local amenities are nearby.

By understanding why someone would buy your home you can hone in on that ideal buyer avatar.

Is it a young couple looking to be near transportation?

Is is a family wanting to walk to school?

Is it an empty nester looking for no maintenance living?

Once you understand who will likely buy your home you can market effectively to them by appealing to those traits that make your home great. You highlight the train nearby or the high quality schools, or the walkability.

Now that you have your ideal buyer and your messaging you need great visuals to get them off their phone to visit your home. That entails professional pictures, video, and sometimes floorplans and they need to be done right.

Working with a local eXpert

As we mentioned earlier, working with a local agent can mean the difference between real estate success and frustration. Hiring a local pro gives you an advantage over the competition because you get their years of experience.

I have been working in River Edge for over a decade and am a lifelong resident. I have deep rooted ties to the community and serve the borough in many capacities which makes me uniquely qualified to assist both buyers and sellers with real estate goals in River Edge and beyond.

I provide the area, real estate and marketing knowledge necessary to accomplish your goals and I work tirelessly for my clients to do that.

If you are looking to hire a real estate agent I would be honored to apply for the job of representing you! I can be reached at 201-685-4788 or ryan@northjerseypartners.com.

This combination of attributes solidifies my status as the top choice for buyers and sellers alike.

Bottom Line

River Edge is a great place to grow up, to start out on your journey, and to raise a family. I can speak from experience because I grew up here and when the time came I chose River Edge to raise my daughter. What always validates that decision is the amount of people I knew growing up that made the same decision to move back here. That speaks volumes to why River Edge is a great town to live in.