Where did your home land in Q2?
The county-wide report provides the numbers. The observations below focus on selected towns in my coverage area. They are meant to add context, not suggest that one quarter establishes a permanent trend. In smaller luxury markets, a handful of sales can move an average substantially.
Alpine recorded five sales in Q2 at an average of $5,009,000, up 5% from the prior year. Average days on market declined 33% but remained 114 days. With only five transactions, the mix of homes sold matters greatly; this is useful direction, not a broad conclusion about every Alpine property.
Saddle River's average sale price declined 6% to $2,563,275. Twenty-one properties sold, 40% more than the prior year, while average days on market increased 27% to 114. The combination suggests more completed activity, but also more time and price negotiation among the homes that sold.
Englewood Cliffs posted a 10% increase in average sale price to $2,664,394. At the same time, sales count declined 35% to 20 and average market time increased 20%. Those measures moved in different directions, which is why property-level comparison remains more useful than any one town-wide average.
Ho-Ho-Kus and Upper Saddle River each posted 29% increases in average sale price, reaching $1,713,268 and $1,977,693, respectively. Ho-Ho-Kus also recorded a 27% decline in average days on market and a 28% increase in sales count. Franklin Lakes rose 15% to an average of $2,212,852, while average days on market declined by one-third and 53 homes sold, up 23%.
Woodcliff Lake recorded 34 sales, up 79%, with average price increasing 17% to $1,290,279. Norwood's average price increased 3% to $1,091,157, while the number of sales rose 74%. These are notable year-over-year changes, but they do not by themselves prove why buyers chose one town over another.
Ridgewood's average price increased 1% to $1,504,484, with 95 homes sold. Tenafly increased 19% to $1,908,973, while average days on market declined 24%. Closter declined 10% to $1,482,137 and Cresskill declined 12% to $1,367,619; Closter's sales count nevertheless increased 15%. Demarest rose 4% to $2,033,750, while Haworth was nearly unchanged at $1,487,470 with 15 sales in both periods.
Taken together, the data show variation rather than a single corridor-wide result. Condition, lot, location, renovation level, and the mix of homes sold still need to be examined before applying a town average to an individual property.
Fort Lee's single-family average increased 22% to $1,403,350. Its condo and co-op segment recorded 232 sales at an average of $566,243, up 4%. The two property types should be read separately because they serve different price points and buyer groups.
Montvale's average price increased 7% and average days on market declined 54%. Park Ridge increased 2%. Old Tappan increased 13%, with average days on market rising to 52. Hillsdale's average price was approximately flat, while sales count declined 53%. Across these towns, the quarter was mixed. It was not uniformly hot or cold.