Towns with most expensive homes in NJ — did yours make the list?
The New Jersey real estate market isn’t exactly a roller coaster. It’s more like just the first part of the roller coaster where you keep going up, up, up. Expecting to drop. Then you never do.
It will happen eventually but for now, it is for the most part a soaring seller’s market because there’s just so little inventory. It hasn’t mattered how frustrated buyers are with high mortgage rates. There’s still no end in sight.
Stacker recently compiled a list of the 30 towns in New Jersey with the most expensive homes. The towns are ranked by the Zillow Home Values Index for all homes as of June 2023.
The numbers are eye-popping. 5-year home value increases deep in the double digits are the norm. In one case more than 100% in just five years. Holy investment, Batman!
Not surprisingly many of the towns on this list are along the shore. People still dream of owning coastal property, climate change, and rising sea levels be damned.
One thing that is surprising though is the town at number 1. It’s NOT the town of Alpine where the mega-rich and mega-famous live.
Can you guess? Read on.
LOOK: Cities with the most expensive homes in New Jersey
Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.
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