Ridgewood takes 17th place at $1.01 million

From CNN/Money:

12 Topekas. 1 Beverly Hills. Tough Trade
By Les Christie

Pity the poor, modern-day Jed Clampett, exchanging the simple and inexpensive life of the Ozarks for the glitz, glamor – and prices – of Beverly Hills. A typical middle-class house in the Southern California city now costs more than 10 times what a similar place sells for near Clampett’s old stomping grounds, Fort Smith, Ark.

That’s according to the Coldwell Banker Home Price Comparison Index released Wednesday. The index provides apples-to-apples comparisons of 342 U.S. markets, looking at the cost of a four-bedroom, two-and-a-half bath, 2,200 square foot house with a two-car garage in a nice, middle-class neighborhood.

This year, that home in Beverly Hills costs $1.8 million; in Minot, N.D. it’s just $132,333 – a difference of nearly 14 times from the most expensive to least expensive market.

“Each year the difference between the most and least expensive city is growing,” says Jim Gillespie, Coldwell Banker’s CEO.

Other states over-represented on the most expensive list were Connecticut, Virginia, Maryland, Massachusetts, New Jersey, Florida and Hawaii. Chicago, where such a house costs about $916,667, is the most expensive inland city.

New Jersey
Ridgewood $1,009,750
Madison $809,000
Westfield $769,375
Warren $745,000
Basking Ridge $660,000
Princeton Junction $621,250
Bridgewater $613,300
Sparta $528,454
Wayne $519,750
Montclair $511,000
Marlboro $508,750
Edison $504,333
Clinton $490,000
Toms River $445,000
Mt. Laurel $359,167
Cherry Hill $289,855

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13 Responses to Ridgewood takes 17th place at $1.01 million

  1. Lindsey says:

    I haven’t had time to look at the Coldwell report,but those numbers don’t line up.

    If you can find a 4br 2bth house in Cherry Hill, $289K buy it. I seriously doubt it exists. Also, why aren’t other town’s on the list, No Holmdel? Princeton Junction, but not Princeton? Toms River’s price might be right, but where are the Skillmans, and Bedminsters?

  2. Lindsey says:

    This is from Coldwell Banker’s website for the list It’s a little more complete than the list with the story, but plenty of town’s are left out.

    Basking Ridge $660,000.00

    Bridgewater $613,300.00

    Cherry Hill $289,855.00

    Clinton $490,000.00

    Edison $504,333.00

    Madison $809,000.00

    Marlboro $508,750.00

    Montclair $511,000.00

    Mt. Laurel $359,167.00

    Princeton Junction $621,250.00

    Ridgewood $1,009,750.00

    Sparta $528,454.00

    Toms River $445,000.00

    Warren $745,000.00

    Wayne $519,750.00

    Westfield $769,375.00

    The URL is:
    http://hpci.coldwellbanker.com/hpci_press.aspx

  3. Lindsey says:

    Last comment on this,

    The lowest priced SFH in Spring Lake is $725K.

  4. njresident286 says:

    Shocked Chatham is not on the list.

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