For the first time in 6 years, this NJ town has the priciest homes

Buying a home in NJ is not something that anyone takes lightly. We all know how expensive it is to live here.

And with the real estate climate being what it is, it’s getting more and more difficult to become a homeowner in the state.

And obviously, it’s a country-wide phenomenon.

In August, for example, the average home value hit a record-breaking $351,423, up 1.3% from the previous year.

Not to mention mortgage rates, which are over 7% and no sign of budging have become a real stumbling block for those wishing to buy.

Home prices are either holding steady or still rising all across the country. But when it comes to NJ real estate, some of our towns are unbelievably pricey.

Stacker did a study about the most expensive towns in NJ, taking into account factors such as location, size, age, and condition, all of which are really driving those numbers up.

They used data from Zillow and put together a list of the priciest cities for homes in New Jersey.

For 6 years, Alpine in Bergen County was the priciest. But one NJ town has finally overtaken it.

Deal, over in Monmouth County.

Deals typical home value is $3,404,652. Over the last year, its prices went up by a solid 3.4%, and that boost was enough to beat Alpine.

Deal has seen an incredible 5-year price increase of over 100%, which tells you something about its real estate appeal.

In the world of NJ real estate, cities like Deal show just how high values can go.

And make you wonder even more, will it ever end?

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

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