Closter, NJ 07624 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary value signal is the median sold price $1,040,500, which anchors recent transaction activity and, combined with a down price trend, suggests sellers may need to be more price-competitive to close deals.
2. The median days on market 332 is exceptionally long and points to slower sales velocity; this extended time-to-contract appears consistent with a market that has more pricing friction and may allow buyers greater negotiation leverage.
3. The median market rent $5,000 remains strong and, alongside an up rent year-over-year trend, indicates robust rental demand—even as sales prices show softening—supporting investor interest in cash-flow or buy-to-rent strategies.
4. The median price per square foot 481 combined with a moderate interest rate pressure and a neutral market temperature suggests a balanced valuation context where pricing must align with financing affordability; relatively constrained active supply in the analyzed sample may still provide some seller advantage in well-priced listings.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.