Hottest markets?

God, I feel that the Ledger should just give up on the stupid “top 10 list” format, I feel like I’m getting sucked into a social media marketing promotion by taking the clickbait. I’ll be the sucker and save you some time:

These 15 N.J. real estate markets are sizzling hot right now, summer edition

After many years of lagging home prices, New Jersey’s real estate market is getting much stronger.

The median home value in June was $318,300, the first time it has hit that mark since January 2005, according to Zillow, the real estate website.

Home prices have increased 8.7 percent in New Jersey in the past year, compared with the 8.3 percent nationally. With home prices rising and housing stock declining, the state’s decidedly a seller’s market.
Just ask anyone trying to buy a home right now.

15. Glen Ridge, Essex County
Median house value: $662,100
Change: 5.41 percent

14. Madison, Morris County
Median house value: $710,700
Change: 5.6 percent

13. New Providence, Union County
Median house value: $633,700
Change: 6.15 percent

12. Cranbury, Middlesex County
Median house value: $717,200
Change: 6.65 percent

11. Berlin Borough, Camden County
Median house value: $222,500
Change: 7.23 percent

10. Edgewater, Bergen County
Median house value: $548,700
Change: 7.91 percent

9. Cresskill, Bergen County
Median house value: $637,800
Change: 9.12 percent

8. Bradley Beach, Monmouth County
Median house value: $571,300
Change: 9.15 percent

7. Lambertville, Hunterdon County
Median house value: $388,800
Change: 9.21 percent

6. Deal, Monmouth County
Median house value: $2,173,100
Change: 10.39 percent

5. Fair Haven, Monmouth County
Median house value: $765,300
Change: 10.58 percent

4. Haddon, Camden County
Median house value: $264,700
Change: 13.9 percent

3. Jersey City, Hudson County
Median house value: $463,900
Change: 22.76 percent

2. Weehawken, Hudson County
Median house value: $740,700
Change: 24.45 percent

1. Asbury Park, Monmouth County
Median house value: $337,900
Change: 31.84 percent

This entry was posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate. Bookmark the permalink.

39 Responses to Hottest markets?

  1. Yo! says:

    Media relying on silly housing, City, and school rankings shrinks media’s credibility.

    Bigger question: Why are homebuilder stocks getting smashed? Toll Bros -30% in 6 months.

  2. grim says:

    Buyers love school rankings.

    NJ Monthly has more sway on the market than the Realtors do.

  3. grim says:

    Bigger question: Why are homebuilder stocks getting smashed? Toll Bros -30% in 6 months.

    Looking at the broader XHB homebuilder index – January peak seems to be the anomaly, not the past 6 months performance.

  4. Yo! says:

    Fair enough, Grim. The recent decline could be a reaction to the 2017 run, not a new view that homebuilding is about to crash.

  5. Libturbodog says:

    Ridgay up in da hizzay!

  6. Fast Eddie says:

    A 2nd house listed in the neighborhood a few weeks ago has a “sale pending” sign I guess, placed in the last day or two. Every one has young families moving in with kids. Young as in little kids to grade school level. They’re usually gone within a week or two.

  7. No One says:

    You’re welcome.
    XRP price 12/29/17 – $2.20
    XRP price this morning $0.27

    No One says:
    December 29, 2017 at 10:38 pm
    I predict lots of people will someday wish they could sell ripple at today’s closing price.

  8. leftwing says:

    XRP getting stomped even harder than BTC. Nearly 90 down, fcuking ouch for anyone in there.

  9. Juice Box says:

    XRP was so last Christmas…

  10. 1987 Condo says:

    Back to PILOT discussion. Am I right to think that towns like Jersey City can protect their state school aid amounts because none of the PILOT monies goes to the school district? Thus making the “town” flush with money but leaving the school district at same old funding levels?

    This issue came up in our town as we are starting a large PILOT development and our town council pledged to provide the school with the same % of funding as if it was tax dollars.

  11. Blue Ribbon Teacher says:

    The town I taught in never saw a decline in home prices during the entire crash. There was a large contingent of people who bought, sent their kids to school, and put the for sale sign up the day of high school graduation, and came out ahead.

    Whenever a school drops 20 spots for no real important reason on NJ Monthly, the crazy parents flip out and put pressure on the board, or worse, run for the board. The real secret is, districts are gaming the rankings. The schools with large Asian populations are clearly destroying the competition in terms of test performance. However, the highest schools are simply the ones who manage to squeeze the most kids into a single AP class regardless of performance.

    The NJ monthly rankings are overly weighted towards “AP participation” as opposed to how many kids score 5s. The college board actively encourages this because it means more revenue for them. I wouldn’t even be surprised if they cut NJ monthly a big check for doing so.

  12. Blue Ribbon Teacher says:

    Strozk has a go fund me and it’s hit 200k. The best part is, the gofundme describes him as a proud father. Is that what we refer to guys who cheat on their wives? 50,000 text messages with his mistress….I’m pretty sure this guy ignored his family entirely for a few years. I might get off 4 or 5 texts a week at this point.

    Peter Strzok, a man who has spent his entire life working to help keep us and our nation safe, has been fired. He needs your help.

    For the last year, Pete, his work, and his character have been the target of highly politicized attacks, including frequent slanderous statements from President Trump, who actively—and apparently successfully—pressured FBI officials to fire Pete.

    All funds raised on this GoFundMe will be put into a trust dedicated to covering Pete’s hefty – and growing – legal costs and his lost income. The trust is being created and details about its management will be shared here as things progress. We also appreciate your help spreading the word about this GoFundMe by sharing this link: http://www.gofundme.com/peterstrzok

    Peter Strzok is a proud husband and father, a veteran of the U.S. Army and counterintelligence Special Agent who spent more than two decades in a job he loved at the FBI.

  13. 3b says:

    Fast kids may be young the parents not so much.

  14. Yo! says:

    The school funding formula is too complicated for me to understand. All I know is Jersey City will lose more school funding than any other district under the latest state budget.

    Jersey City has become a glorious success story in large part because the city’s government has allowed home builders to build. If PILOTs help create new homes, then I favor PILOTs.

  15. Libturd questioning the gender of Hillary's Cankle fluid. says:

    BRT,

    You are exactly right about the AP attendance. Glen Ridge kept getting knocked down due to lack of AP offerings, not due to test scores. Our class sizes are so small that they can only offer so many AP classes. But on the bright side, most of our kids score very highly in them. Over in Montclair, the AP offerings are tremendous. But tons of kids don’t receive any college credit since they can’t even score a 3. But up will go Montclair’s ranking none-the-less. Throw in the stupid diversity grade and Montclair is a top school in the state when realistically, it’s better than the average urban school, but test scores are significantly lower than most non-urban schools.

  16. 1987 Condo says:

    BRT-spot on with NJ Monthly

    FBI guy, never dawned on me he was married and had a g/f….how naïve of me.

  17. Libturbodog says:

    I really need to screw up and start a gofundme page.

  18. leftwing says:

    No joke. Looked at the asterisked sections.

    We should have started one for bystander.

    translation…we’re giving him the cash and we’ll give you the details later. Maybe.

    “All funds raised on this GoFundMe will be put into a trust dedicated to covering Pete’s hefty – and growing – legal costs ***and his lost income***. The trust is being created and ***details about its management will be shared here as things progress***. “

  19. Libturd says:

    My name is Libturd.

    While all of my friends were ruining America and enriching Wall Street by buying homes with zero percent down mortgages and low credit scores. I put down 20%, bought near the peak and still maintained a >800 credit rating. When the federal government bailed out both my friends and Wall Street, I just kept on paying for my home, never missing a payment. All of this done without any significant wage increases. During this “Great Recession,” there was a period of government largess for those who needed it, but I just went on paying my mortgage and taxes not qualifying for a swing at the government pinata. I skipped Obama’s Cash for Clunkers. I skipped Harp, Hip, Harpo and Harpist housing stimulus programs and the $8,000 first time home buyer credit. As a result of doing the right thing and keeping the cogs of this great nation going, I realized that I am a complete and absolute moron.

    Therefore, I promise that any money sent to my campaign will be wasted in a timely fashion. Hell, I don’t even have an iPhone X or a smart watch yet. I’m such a moron, that I don’t lease my cars or sit on TOYO toilet seats. And get this. My kitchen doesn’t even have an island! If I reach my goal, I promise to extend my 15-year mortgage with 7 years to go, into a 30-year. I promise to take advantage of those checks that come with my credit card statements and I will immediately go to Rent-A-Center to get that 4K TV. I’m feeling so good about myself now, I think I’ll take a Payday loan out in anticipation of my coming good fortune. Thank you fellow smart people! You have shown me the light. Dry toilet tissue no more!

  20. 1987 Condo says:

    I foolishly made 12 years of mortgage payments on my condo from 1987 to 1999 and then sold for a $40,000 loss (paid $132k sold for 92k).

    Please fund me too! I am looking at that new G70!

  21. Libturd says:

    I’ll link to your page from mine.

  22. 3b says:

    What’s a toyo toilet?

  23. Libturd says:

    Toto. Oops. Mixed up my inks with my stinks!

  24. No One says:

    He meant Toto toilet. Libturd is going to have a cleaning wand “washlet” spray his poop chute with warm water for him in the future. No tp required. I think the gofundme should focus on the Toto toilet only so Libturd never has to endure the agony of wiping his own bum again!
    https://www.youtube.com/watch?v=qtB8vlK1GWU

  25. instant personal loan approval lender lender [url=https://cashnow.cars]money lender[/url]

  26. leftwing says:

    Stu, put it up. In all seriousness. WTF. You have nothing to lose. Throw a $200k goal on there.

    I bet you get some $$$ lol.

  27. The Original NJ ExPat says:

    LOL

    Toto. Oops. Mixed up my inks with my stinks!

  28. joyce says:

    Yes, good for JC bad for almost everyone else. Home builders will build anywhere if the local government lets them ripoff the taxpayers.

    Yo! says:
    August 14, 2018 at 10:12 am
    The school funding formula is too complicated for me to understand. All I know is Jersey City will lose more school funding than any other district under the latest state budget.

    Jersey City has become a glorious success story in large part because the city’s government has allowed home builders to build. If PILOTs help create new homes, then I favor PILOTs.

  29. The Original NJ ExPat says:

    How long until Omarosa does p0rn?

  30. The Original NJ ExPat says:

    Title Suggestion:

    Black Hoes in the White House

  31. The Original NJ ExPat says:

    tag line: This, you can believe. I’m telling you.

  32. 3b says:

    Juice what can you say it’s the French!!

  33. grim says:

    I was in Paris a few months ago.

    I wasn’t offended by the urinals, but I was offended by the hideous prostitutes openly soliciting on public roads.

    C’est la vie I guess.

  34. 3b says:

    Grim like I said the French!!

  35. Bystander says:

    Left,

    For my lost income? Sure, I should start a GoF*ckMe account if that bonus does not come through this year. Gotta say it is absolutlely dead out there. Maybe one email. Even Indian recruiters must be on the beach in Goa. Don’t start new gig until after Labor day.

  36. ExEssex says:

    Nothing like a good Catholick education:

    Avoid scandal. Use euphemisms. Ask inadequate questions. Lock complaints away in a “secret archive.” Above all, don’t tell the police.

    Those are some of the tactics that leaders of the Roman Catholic Church in Pennsylvania used to conceal child sexual abuse by priests over a period of 70 years, according to a grand jury report released Tuesday.

  37. Blue Ribbon Teacher says:

    Lol, his gofund me’s goal keeps changing every time they meet the goal. At what point do these idiot donors realize they are throwing away their money so this guy can live like a king?

  38. Quick Loans says:

    lender lender loan lenders [url=https://cashnow.cars]fast online payday[/url]

Comments are closed.