Three New Jersey zip codes have some of America’s most expensive homes
An annual survey found that a trio of New Jersey towns in different parts of the state all have one thing in common: They own some of the most expensive homes in the country.
PropertyShark recently released its ranking of the 100 most expensive zip codes in the United States and two Garden State spots debuted on the list alongside a regular candidate. The company took into account all residential transactions that closed this year between Jan. 1 and Oct. 22 when compiling its data, which found that the country’s 10 most expensive postcodes all have average home sales exceeding the $ 4 million.
New Jersey contributed three zip codes to the top 100, the highest number the state has ever recorded. Alpine’s 07620 is once again the most expensive zip code in Garden State, ranking 58th nationwide with an average selling price of $ 2 million. Home selling prices have increased 38% year over year in the small borough of Bergen County, which has been and continues to be home to various types of the rich and famous.
Monmouth County Sea Girt, or 08750, has the second most expensive homes in the state. The seaside town ranked 70th nationally with home sales averaging $ 1.89 million in 2021, while 08202 in Avalon, Cape May County, ranked 92nd in the countries with house prices averaging $ 1.67 million. The two postal codes ranked among the top 100 most expensive in the country for the first time.
No other place in New Jersey made the top 100, but several other cities had high average selling prices nonetheless. New Vernon has recorded an average selling price of $ 1.62 million this year, the only Morris County town to make the state’s top 10. Short Hills, a suburb of Essex County, placed fifth with $ 1.537 million.
The remainder of the top ten average New Jersey home selling prices consisted of Deal ($ 1.54 million) at sixth place and Stone Harbor, another Cape May County entry, at $ 1.49 million . Mantoloking came in at No. 8 with average selling prices of $ 1.45 million, while Englewood Cliffs and Rumson’s average selling prices of $ 1.3 million round out the list.
In a way, the New York coast dominated the price war in the suburbs of New York. Most of New Jersey’s more expensive towns were on or near a beach, with two of the most expensive zip codes being in the state’s southernmost county. For the first time ever, the study determined that no New York zip code was in the top 20 in the United States this year.
However, it wasn’t all bad news for the Big Apple. The Hamptons 11962 zip code in Sagaponack was the # 3 most expensive in the United States, and New York City still had 17 ranked zip codes on the list, the second of any state in the country.
The largest zip code in the country was 94027 in Atherton, Calif., Which reached an average selling price of $ 7.5 million this year. The Golden State accounted for 70% of the country’s most expensive housing markets, with 37% concentrated in the Bay Area alone.