New Jersey Town’s Real Estate Market Named Among Hottest In America

What is the state of today's real estate market in New Jersey?

As we go through April two towns in New Jersey have emerged as some of the hottest real estate markets in the Nation. According to Redfin, "In November 2023, home prices in New Jersey were up 9.5% compared to last year, selling for a median price. On average, the number of homes sold was down 14.7% year over year and there were 6,768 homes sold in November this year, down 7,936 homes sold in November last year." According to Realtor.com "Across the state, 12 counties saw an increase in new home listings compared to March 2023. And, the number of new home listings also increased in 19 New Jersey counties compared to February."

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So according to a recent article from the Patch, Two municipalities in New Jersey have found themselves in the TOP 5 real estate markets in the nation. Montclair is ranked as the 4th best market in America. "Montclair is not only the hottest town in New Jersey for real estate, but the fourth hottest in the entire country, according to Realtor.com data first reported by NJ.com". 

Coming in right behind Montclair is the town of Basking Ridge, New Jersey. The Somerset County town finished #5 in the nation.

TOP 5 Hottest U.S. Real State Markets

1. Columbus, Ohio
2. Ballwin, Missouri
3. Lancaster, Pennsylvania
4. Montclair, New Jersey
5. Basking Ridge, New Jersey

Other New Jersey towns that ranked high were Mount Laurel #8 and Ramsey #10. Not bad having four towns in the TOP 10 best real estate markets in the nation.