These NJ Counties Saw The Largest Recent Home Price Increase

NEW JERSEY — A hot real estate market has not cooled down in New Jersey over these past few months, with prices continuing to tick up in counties around the Garden State and a majority of homes being sold over list price.

On average, homes in New Jersey sell for $494,792, and go to pending in around 16 days, Zillow shows. Home prices are up 6.2 percent from this time last year, and 65.9 percent of homes for sale go over list price, data shows.

Every month, the real estate website updates its Zillow Home Value Index, which is a measure of the typical home value and market changes across a given region and housing type. The ZHIV reflects the typical value for homes in the middle of the market, Zillow explained. Housing data released earlier in October was through the month of August.

Patch took a look at price changes county-by-county from May through August, using Zillow data, to see which counties saw the biggest increases in the warmer months. No counties saw home prices fall through that four-month period. However, some

Here are the counties that saw the biggest increase:

• Camden Co: 3.12 percent
• Somerset Co: 2.88 percent
• Atlantic Co: 2.79 percent
• Monmouth Co: 2.75 percent
• Burlington Co: 2.61 percent

Here are the counties that saw the smallest increase:

• Hudson Co: 1.18 percent
• Cape May Co: 1.19 percent
• Bergen Co: 1.27 percent
• Passaic Co: 1.79 percent
• Union Co: 1.82 percent

View price changes around the state in the table below:

Also, monthly data from Zillow also shows that four counties in New Jersey now have a typical home value of over $600,000.

Here are the 10 New Jersey counties with the highest typical home values as of Sept. 1, according to Zillow:

• Cape May County: $680,175.69
• Monmouth County: $654,005.42
• Bergen County: $643,051.73
• Morris County: $602,285.02
• Somerset County: $578,860.89
• Hudson County: $576,137.06
• Essex County: $565,284.80
• Hunterdon County: $551,971.24
• Union County: $541,203.96
• Passaic County: $501,360.38

Several of the counties on this list are also among the Garden State counties with the greatest percentage of high-earning residents, according to U.S. Census data.

Related articles:

• NJ Home Prices Shot Up 6+ Percent Over Last Year, New Data Shows
• Wealthiest NJ Counties: Where High Earners Live Around The State