Ridgefield is a quiet residential town located between Palisades Park and Fort Lee, characterized by its reasonable distance from commercial areas while still being close to the Korean community. Recent market trends indicate that this balance in location is reflected in the pricing.

Based on the median home price, Ridgefield has risen from about $560,000 in early 2021 to around $770,000 by mid-2026. This represents an increase of approximately 38% over five years.

Year by year, from 2021 to early 2022, low interest rates and buyer demand led to rapid price increases, while from mid-2022 to 2023, the market experienced a correction due to rising interest rates. After 2024, a shortage of listings has become prominent again, leading to a gradual upward trend.

Compared to the national average five-year increase of 35-45%, Ridgefield falls comfortably within this range. It appears to be following a similar trajectory to other small towns in Bergen County.

Factors supporting this increase include proximity to the Korean business district, a relatively quiet residential environment, and the limited new supply typical of small towns. Additionally, demand from those seeking more spacious living compared to nearby Fort Lee and Palisades Park has also had an impact.

Looking ahead, a cautious perspective is necessary regarding the market. As long as the shortage of listings continues, the likelihood of a significant price drop seems low, but depending on interest rates, there may be some limitations on transaction volume and price increases.

For Korean households considering actual residence, this area is worth noting if they want to avoid the hustle and bustle of Fort Lee or Palisades Park while maintaining access to those communities. If contemplating a sale, it's worth noting that this is a time of scarce listings, which could provide a somewhat advantageous position in price negotiations.