Alan Woods | movoto.com
Some of New Jersey's hottest real estate markets!
New Jersey is one of the most urban of all the states along the eastern seaboard. With easy access to major metro areas such as New York City and Philadelphia as well as the expansive beaches of the Jersey shore and the mountains of the interior part of the state, New Jersey makes an ideal home base. Recognition of this fact has helped push up buyer demand for houses and apartments in New Jersey. Several areas in the region have seen impressive housing price growth rates in the last few years.
Upscale Alpine has some of the swankiest homes in New Jersey. This pastoral Bergen County town is home to many celebrities including actor and comedian Chris Rock. Given the large lots and the lush landscaping, it's not exactly surprising that this town was the only place to make the list of the 25 most expensive ZIP codes in the country. Average home prices here are well in excess of two million and expected to continue to get higher as more people discover this charming town.
One of the largest suburbs of Philadelphia, Cherry Hill has long been sought after by residents of the region who want to enjoy the countryside and yet have excellent access to urban living amenities. A number of major American companies have chosen to locate here including Subaru of America and the banking powerhouse T.D. Bank. This has helped push up real estate values in the region as employees have sought housing that allows for an easy commute to work.
With only about two thousand residents, this Warren County town still ranked highly on the list of communities in New Jersey showing high rates of appreciation in the last few years. New Jersey Family Magazine named it the fourth best place to raise a family in the entire state. Average home prices here pushed past the $500,000 mark in this rural area and should continue to go up as more people find about this largely hidden gem.
One of the most scenic of all New Jersey towns, Glen Ridge also has a super hot real estate market. Buyers love the beautifully varied colonial homes they can find here. They also love the fact that the train right into the heart of Manhattan stops in multiple places along the town center. The relatively short commute and the availability of houses just right to raise a family have helped fuel an unexpected rise in prices in homes in the last few years. Buyers also enjoy the fact that the town is right next to several major shopping areas and major Essex County community arts centers such as the Montclair Art Museum.
Low inventory has helped push up real estate prices in this urban town a stone's throw across the river from Manhattan. While community officials have rushed to help meet the needs of those who want to live here, a shortage of condos has seen many apartments go for well above the asking price. Observers expect this flurry of activity to continue to push up average home prices, making Hoboken one of New Jersey's hottest housing markets.
The second largest city in the state has seen average prices here climb past the 400K mark in a very short period of time. People who move here find the city makes an easy commute to Manhattan and lets them spend less money on housing prices than they might expect to pay for a similar apartment in Manhattan. Real estate developers have taken advantage of the city's proximity to the water to build condos that offer shimmering water views and views of the entire Manhattan skyline. Real estate prices are expected to go up even more, making this city an ideal real estate investment for the young professional just starting a family.
This small Monmouth County town has seen housing prices rise as buyers find themselves drawn to this area in the center of the state. With a history that goes back to the 1660's this convenient community has seen many people settle here over the centuries. Many homes have views of both the Shrewsbury River and the Atlantic Ocean, making it a perfect place to live for those who love being near the water.
A short distance from Philadelphia, Mount Laurel has many housing options for those who want to be close to an urban area and close to the Jersey Shore. Home prices in this large south Jersey town have seen some of the highest jumps in the entire state. Buyers have flocked to this large suburb looking for both houses and apartments. Housing prices here are expected to continue to go upwards as the Philly economy remains strong.
With one of the state's top ranked school districts, it's no surprise that New Providence home prices have continued to appreciate rapidly. At the lower end of the market, houses typically go for more than 500K for a standard three home on an ordinary lot. Larger houses that offer more amenities start at around a million and can easily climb upwards. Those living here can expect to see buyers from nearby New York City look for a place they can raise their kids in a relaxed setting.
Known as the location of one of the nation's best malls, Short Hills is also home to some of the state's most desirable real estate. Prices have climbed in recent years as buyers have found that the location has everything they want, including charming housing stock and an easy train commute to New York City.