It looks like the luxury housing market is making a comeback.
Especially in the Garden State, says PropertyShark.com.
The online real estate database analyzed home sales between January 1 and September 30 for properties such as condos, co-ops and one- and two-family homes to determine the Top 100 most expensive zip codes in the US. Homes on this list had to have registered at least five residential transactions.
New Jersey represented on two lists in the report.
For the Top 100 most expensive zip codes, six are from New Jersey and four belong to cities along the Jersey Shore. For states with the most zip codes in the top 100, the Garden State landed in third place, behind No. 1 California and No. 2 New York.
Even as interest rates rise, insurance premiums skyrocket and the real estate boom surges, buyers are actively looking for their forever home.
PropertyShark.com’s annual report states that 67% of the nation’s most expensive zip codes will increase average sales prices in 2024, up from just 29% in 2023.
Below are New Jersey’s most expensive zip codes.
According to the report, the Alpine’s average sales price is a new record for the Garden State and Mantoloking is the newest member to join the list.
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07620 Alps, Bergen County ranks 24th in America with an average sales price of $3,317,000
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07723 Offer, Monmouth County ranks 32nd in America with an average sales price of $2,950,000
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08202 Avalon, Cape May County ranks number 41 in America with an average sales price of $2,750,000
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08738 MantolokingOcean County ranks number 59 in America with an average sales price of $2,370.00
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08247 Steenhaven, Cape May County ranks 70th in America with an average sales price of 2,200,000
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07078 Short hillsEssex County, with a median sales price of $1,955,000, ranks #93 in America
This article originally appeared on Asbury Park Press: New Jersey features prominently among the most expensive zip codes in the United States
