From NJ Best:
New Jersey is hot.
New Jersey real estate, that is.
Close observers of the housing market in the Garden State eagerly pointed out areas and towns that are really smoking.
All of Monmouth and Ocean counties — the Jersey Shore — but especially waterfront and water view properties.
In the Trenton area, it’s West Windsor.
“In Montclair and Glen Ridge, homes are selling for $100,000 to $200,000 above the asking price — big, older houses,” said Angela Sicoli, a Century 21 broker-owner and president of the New Jersey Association of Realtors.
Recent sales statistics for Montclair show the median home price at $975,000, up almost 30% year over year, and buyers were paying 116% of the asking price. Montclair had 57 new home listings last August, considered an 18-month supply of inventory in normal times.