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.
These towns are the hottest in New Jersey right now. All of them are at or close to their peak prices and have seen huge year-over-year growth. See if yours made the list.
A note about the data: From the Zillow Q2 2018 seasonally adjusted home value data. Analysis includes towns that have reached their peak home values in the past two quarters, then sorted by year-over-year growth. Because of recent adjustments to the Zillow algorithm, we could not compare it with data from previous quarters.