In these NJ towns, the average home is now worth over $1 million
When does it all go off the cliff? There seems to be no end in sight to increasing home values in the Garden State.
After a wobble around the end of last year, a seller’s market came roaring right back. A thorn in the side of buyers is a beautiful rose for sellers.
Rob Dekanski of Remax 1st Advantage said:
We’ve been waiting for a cool down but it just isn’t happening. Demand is sky high and inventory levels are still near record lows. If your home shows well and is priced appropriately, it’s gone in a weekend.
So it’s all resulted in home values increasing to the point where there are now 36 towns in New Jersey where the average home price is over $1 million.
The statewide average home value in New Jersey now stands at $484,467 according to NJ.com. These three dozen towns are well over double that.
Did your town make this so-called “millionaire” club? Scroll through and find out.
36 NJ towns with an average home value of more than $1 million
Stone Harbor $2,264,361
Short Hills $1,903,920
Sea Girt $1,843,401
New Vernon $1,775,826
Avon by the Sea $1,601,976
Long Beach Township $1,504,459
Franklin Lakes $1,381,137
Upper Saddle $1,360,479
Cape May $1,323,560
Far Hills $1,311,262
Sea Isle City $1,307,858
Barnegat Light $1,285,075
Fair Haven $1,221,604
Long Port $1,185,381
Essex Fells $1,182,817
Spring Lake $1,080,437
Colts Neck $1,075,179
Ho Ho Kus $1,064,670
Woodcliff Lake $1,015,051
Mountain Lakes $1,009,276
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Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.
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