These two NJ towns rank among the tops in the nation for home values
We all know that real estate in New Jersey is expensive, but it’s more expensive in some towns than others. While bidding wars have broken out for real estate in places all over the state, only two New Jersey towns are in the top 50 nationally for home values.
According to a report from NJ.com, Zillow ranked zip codes all across the country to come up with the data.
The top ten is dominated by California zip codes; Atherton, in the Bay Area, was tops in the nation with a typical home value in May coming in at $7,600,430.
The two highest New Jersey zip codes are: Deal (07723), with a typical home value of $3,260,106, making it the 29th most valuable zip code, and Alpine (07260), at $2,654,956, good for 46th place nationally.
Outside the top 50, we can find other New Jersey zip codes; Avalon (08202) had a typical home value of $2,272,378 in May, placing it at #72. Stone Harbor (08247), with a typical home value of $2,140,232, was in 86th place; Allenhurst (07711) in Monmouth County had a typical home value of $1,843,755, good for #128, Short Hills (07078) was 146th at $1,778,615. Just sneaking into the top 150 was Mantoloking at #149, with a typical home value of $1,769,181.
Zillow’s calculation of “typical home value” is a trimmed mean, and behaves like a median value would to get a more accurate representation estimate, Jeff Tucker, senior economist at Zillow told NJ Advance Media in an interview.
21 of the most expensive homes for sale at the Jersey Shore (North)
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Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.
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