Average Home-Sale Prices in NJ [Interactive Map]

By Colleen O'Dea, NJ Spotlight

The national housing market may be on the rebound, at least for new-home sales, but prices in New Jersey are still dropping in most communities, state data shows.

According to an analysis of the average residential sales price for New Jersey communities over the last five years, the typical sales price dropped between 2011 and 2012 in almost three-quarters of towns. In 21 municipalities, the decline was more than 25 percent from year-to-year. And nine in 10 municipalities logged an average home sales price in 2012 that was lower than five years earlier.

Average home-sale prices in both Ridgewood and Glen Rock have dipped more than 8 percent since 2008.

Homes sold in Ridgewood in 2012 went for an average of $719,662, down more than 13 percent from the prior year, where prices spiked to $829,052. Ridgewood average home-sale prices are down 8.2 percent from the average of $784,268 that a village home went for in 2008.

In Glen Rock, the average home sold for $582,707 in 2012, a 2.8 percent increase from 2011. Glen Rock real estate have shown two consecutive years of increased sale prices, but it's still an 8.5 percent drop from 2008 when the average home sold for $636,677.

Read more and view an interactive map of average home-sale prices across the state by clicking here.

NJ Spotlight is an issue-driven news website that provides critical insight to New Jersey’s communities and businesses. It is non-partisan, independent, policy-centered and community-minded.