Home prices in Tappan have climbed over the past year on a rolling three-month basis. The typical home value is up about 7% year over year, landing around the low $800,000s. List prices have also edged higher compared with last year, though at a slower pace than sale prices.
Recent activity shows more homes available and a market that still favors sellers. Active listings are up more than a quarter from a year ago, yet months of supply sits at just about two months, which is consistent with a firm seller’s market. Homes are taking longer to sell than they did a year ago, with the median days on market rising into the low 20s, but buyers are still bidding aggressively.
This rolling three-month period shows that nearly four out of five sales closed above the asking price, and the average sale-to-list ratio is just over 104%, signaling strong demand for well-priced homes. Pending sales have surged more than 40% year over year while the number of homes sold has also increased, pointing to steady buyer interest despite higher prices. With inventory expanding but sellers still holding the advantage, local conditions can be nuanced. Agent Pronto can connect both buyers and sellers with a Tappan agent who understands these trends and can help them navigate their next move.
