In these NJ towns, the average home is now worth over $1 million

When does it all go off the cliff? There seems to be no end in sight to increasing home values in the Garden State.

After a wobble around the end of last year, a seller’s market came roaring right back. A thorn in the side of buyers is a beautiful rose for sellers.

Rob Dekanski of Remax 1st Advantage said:

We’ve been waiting for a cool down but it just isn’t happening. Demand is sky high and inventory levels are still near record lows. If your home shows well and is priced appropriately, it’s gone in a weekend.

So it’s all resulted in home values increasing to the point where there are now 36 towns in New Jersey where the average home price is over $1 million.

The statewide average home value in New Jersey now stands at $484,467 according to NJ.com. These three dozen towns are well over double that.

Did your town make this so-called “millionaire” club? Scroll through and find out.

36 NJ towns with an average home value of more than $1 million

Deal $3,252,968

Alpine $2,732,815

Avalon $2,407,447

Stone Harbor $2,264,361

Mantoloking $1,958,519
(08738)

Short Hills $1,903,920

Allenhurst $1,872,062

Sea Girt $1,843,401

New Vernon $1,775,826

Avon by the Sea $1,601,976

Long Beach Township $1,504,459

Rumson $1,466,375

Mantoloking $1,459,345
(08739)

Englewood $1,444,542
Cliffs

Strathmere $1,383,721

Franklin Lakes $1,381,137

Upper Saddle $1,360,479
River

Cape May $1,323,560
Point

Far Hills $1,311,262

Sea Isle City $1,307,858

Barnegat Light $1,285,075

Fair Haven $1,221,604

Long Port $1,185,381

Essex Fells $1,182,817

Montclair $1,140,323

Demarest $1,115,097

Summit $1,094,595

Chatham $1,081,967

Spring Lake $1,080,437

Colts Neck $1,075,179
Township

Ho Ho Kus $1,064,670

Millburn $1,060,964

Tenafly $1,050,374

Westfield $1,033,056

Woodcliff Lake $1,015,051

Mountain Lakes $1,009,276

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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