Fort Lee, NJ 07024 Real Estate Market Report

ZIP Code: 07024
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Fort Lee, NJ is characterized by a median sold price of $1,063,500, reflecting a stable market environment. This price point indicates a solid demand for properties, although the market has shown signs of price appreciation, with a neutral market temperature suggesting a balance between buyers and sellers. The median days on market stands at 283, which indicates a slower sales velocity, potentially due to elevated inventory levels relative to sales activity.

Despite the slower transaction volume, the median listing price of $1,424,500 suggests that sellers may have higher expectations compared to recent sales, creating a pricing friction in the market. Additionally, the median market rent has reached $3,990, indicating a steady rental demand that continues to rise, further emphasizing the overall stability of the market in the face of moderate interest rate pressure.

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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. The median sold price of $1,063,500 suggests strong demand despite a slower sales velocity.

2. With a median days on market of 283, the market is experiencing slower transaction activity, indicating potential pricing friction.

3. The median listing price of $1,424,500 reflects elevated seller expectations compared to recent sales, contributing to market caution.

4. The median market rent has increased to $3,990, showing a growing rental demand in the area.

5. Overall, the market temperature remains neutral, indicating a balanced environment between buyers and sellers.

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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.