In an article about New Jersey real estate in the Star-Ledger, Millburn was ranked the #1 hottest real estate market in New Jersey by a nonprofit organization for Realtors called New Jersey Realtors. There is a link to the article below, as well as photo of the spread in the Ledger). The rankings gave equal weight to each of 3 metrics (median sales price, average days on the market & average percent of list price received). Millburn came in at $1,212,500 for median sales price, 41 average days on the market and 99.5% for average percent of list price received. In New Jersey real estate, the top 10 towns came in as follows:
- Millburn
- Hoboken
- South Orange
- Summit
- Glen Ridge
- Chatham Borough
- Montclair
- Fair Haven
- Maplewood
- Ridgewood
Arlene was actually quoted in the Millburn section! Here is the excerpt from the Millburn section:
This tony suburb in Essex County known for it’s great public schools and train access to New York City tops New Jersey Realtors’ ranking of the hottest real estate markets in the Garden State. For homebuyers looking at properties priced under $1.5 million, Arlene Gonnella, a sales associate for Weichert Realtors in Short Hills, said “it’s highly likely that they will be in a competitive bidding situation.”
Link to the Article – “The 10 hottest real estate markets”
http://realestate.nj.com/realestate-news/2016/10/the_10_hottest_real_estate_mar.html#13
