The affluent real estate markets of Northwest Bergen County which includes towns like Ridgewood, Glen Rock, Allendale and Saddle River share a trait with top-tier markets across the country: the prevalence of private, or "exclusive," listings.
While transacting privately offers exclusivity and sometimes speed, due to one particular buyer being interested in the home, a growing body of evidence suggests that keeping a home off the public market (the Multiple Listing Service or MLS) can cost sellers a significant amount of money by limiting the competition that drives up prices.
In a luxury market like Ridgewood, where inventory is often low and buyer demand remains high, homes listed publicly on the MLS most often sell for over asking price, sparking bidding wars that push the final sale price far beyond initial expectations. Till Horkenbach and Kelly O’Brien with Keller Village Square Realty in Ridgewood, NJ averaged Y-T-D 13% over the asking price for their sellers on their 2025 listings.
The core finding from analysis in comparable ultra-competitive markets is stark: open competition pays. When a home is exposed to the widest possible audience of buyers, the resulting competition generates dramatically higher sales prices.
For Northwest Bergen County sellers, relying solely on an exclusive network of agents could mean bypassing the frenzy that could add hundreds of thousands of dollars to their final closing price.
If public listings maximize profit, why do some sellers in Ridgewood or Saddle River choose the quiet, off-market route? The reasons are rooted in convenience, control, and privacy:
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Privacy and Exclusivity: For homeowners, an off-market sale ensures less disruption, no open houses, and often less work in preparing the home. With limited showings sellers feel the buyers will be more serious vetted buyers.
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Speed and Convenience: An exclusive listing can sometimes mean a faster, less chaotic transaction. Instead of managing a flood of offers, the seller and agent can quickly connect with a known, qualified buyer, streamlining the process.
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Testing the Waters: Some sellers use an office-exclusive listing as a trial run, attempting to gauge demand and price without accumulating "days on market" if the home doesn't sell immediately.
Data consistently shows that a lack of transparency harms the seller's bottom line.
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Competition: In a market already prone to bidding wars, maximum exposure is the only way to guarantee the home reaches every qualified buyer, ensuring true market value.
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Appraisal and Valuation: When sales are kept off the MLS, local agents and appraisers have a less complete picture of comparable sales, making accurate valuations harder for everyone involved. Market visibility ensures that the sale price can be accurately justified.
For a seller in Northwest Bergen County looking to achieve the absolute highest return on their investment, the work and preparation for the open market are not burdens. It’s the guarantee that the sellers did not leave money on the table. By prioritizing convenience and privacy over market transparency, sellers risk leaving a substantial premium on the table.
According to NJMLS (New Jersey Multiple Listing System) statistics for 2025, homes in Ridgewood and Northwest Bergen County on average homes over $1 Million close 100% of the time at or above list price due to intense buyer competition confirming a listing shared on the MLS is the best strategy to maximize the sale price of a luxury home.
