file photo by Boyd Loving

March 4,2017

the staff of the Ridgewood blog

Ridgewood NJ, At the end of last year, PropertyShark compiled a list of the most expensive zip codes in the U.S., and 2 New Jersey zip codes made the cut: Alpine’s 07620 landed the 44th spot on our list, and Short Hills’ 07078 landed the 88th. This year, PropertyShark took a closer look at the market and round up the most expensive zip codes in New Jersey.

The top three zip codes on our list will come as no surprise; the most expensive zip code on our list is occupied by Alpine’s 07620. with the medium price of $2,050,000. The next zip code in the state is Short Hills’ 07078, with a median home price of $1,430,000. The third priciest zip code on our list is Stone Harbor’s 08247, with a median home price of $1,110,000.

Ridgewood’s 07450 came in 26th with the median price of $712,500 with 350 real-estate transactions.

Hoboken’s 07030 ranked 33 but the small city had the largest number of residential transactions in the past year, with 830 sales closed here in 2016, at a median price of $685,000.

The methodology:  In order to determine which were the most expensive ZIP codes in New Jersey, PropertyShark looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and two-family homes. All package deals were excluded.

Check out the full list of New Jersey zip codes below: