The 10 towns in NJ with the most expensive homes

Where New Jersey is home, prices are jaw-dropping.

The modest house where I grew up as a little boy in Rahway was only 1,200 square feet and had three bedrooms. Just one bathroom. In 1975, it sold for $34,000. That same home, with no major additions or renovations, is estimated to be worth well over $400,000.

Young people live longer with their parents in this state for good reasons. Rents are often beyond reach. Many are remaining at home to save to buy a first home, which for young couples is still a struggle once they search the market.

We’ve all heard the buyer nightmare scenario. They find a perfect starter home or even a forever home. They put in a bid above the asking price. They get outbid anyway and start all over again.

As of August, the median sales price of a home in New Jersey is $591,489. 

If that’s the median price, it goes to show just how expensive a lot of towns are. Where are the priciest homes?

Property Shark just put out their annual report. These are the 10 most expensive towns for real estate in New Jersey. Numbers are based on the median sale price.

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

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