Closter, NJ 07624 Real Estate Market Report

ZIP Code: 07624
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The primary market indicator in Closter, NJ (07624) is the median sold price of $1,150,000, which represents the most reliable signal of recent transaction values. Compared with the median listing price of $1,649,400, this gap suggests a meaningful divergence between seller expectations and realized sale prices that may be contributing to longer negotiation cycles and pricing friction. Market context flags a down year-over-year price trend, while the overall market temperature is described as neutral, indicating the market is shifting toward balance rather than accelerating gains.

Liquidity appears muted: the median days on market of 281 days points to slower sales velocity and extended marketing periods for recently sold homes, which may reflect buyer caution or elevated underwriting/financing timelines given elevated interest rate pressure. At the same time, the sample indicates relatively constrained active supply, which may sustain competition for well-priced, move-in‑ready properties. Rental dynamics stand in contrast to for-sale softness—median market rent of $4,150 and a up rent year-over-year trend signal strengthening rental demand that could support investor interest in the submarket. Property cost pressure is non-trivial with a property tax rate of 2.017%, an important input for buyers and investors when modeling carrying costs.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. $1,150,000 median sold price is the clearest indicator of transaction-level value and suggests sellers may need to align expectations with recent closed deals rather than higher asking prices; balanced pricing strategies may accelerate sales.

2. 281 median days on market signals extended marketing periods and slower transaction velocity, which suggests agents should plan longer timelines and more proactive staging/pricing to reduce time to contract.

3. $1,649,400 median listing price versus the median sold price highlights a pricing gap that may be creating pricing friction; aggressive price positioning or targeted concessions could improve offer flow.

4. $4,150 median market rent combined with rent up year-over-year indicates robust rental demand, presenting an opportunity for buy-to-rent strategies where underwriting accounts for the 2.017% property tax rate and current financing conditions.

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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.