Zillow's Home Value Index - THE RIDGEWOOD BLOG.

Glen Rock Places Number 12

Posted August 24, 2017 at 08:12 AM | Updated August 24, 2017 at 09:58 AM

Stephen Stirling | NJ Advance Media for NJ.com

NJ Advance Media is launching a feature this week dubbed the New Jersey Real Estate Power Rankings.

Every three months, we will rank the top 15 real estate markets and chart how they’ve changed amid what is a fairly volatile and fractured real estate market in the Garden State.

Our methodology is fairly simple. Each quarter, we take stock of all the towns in the state that are seeing their median valuation peak during the most recent two quarters. We’re using real-estate tracking website Zillow’s Home Value Index for our analysis (methodology here).

From there, we rank the towns based on what percent their median value has increased over the last year. The rankings will also include a statistic, located on the top right of each town’s stat sheet, that indicates how its place rose or fell since the last ranking.

We used our previous rankings as a baseline.

https://www.nj.com/news/index.ssf/2017/08/nj_real_estate_power_rankings_the_15_hottest_marke.html#incart_river_home

A revival in Bergen County : After seeing its growth stagnate in the 1980s and 1990s, Glen Rock has been steadily gaining population in the 21st century. In a few years, it could near its peak population of 13,000, set in 1970

The 19 hottest real estate markets in N.J. are surging

Updated May 31, 2017
Posted May 31, 2017

Stephen Stirling | NJ Advance Media for NJ.com

Time to separate the wheat from the chaff.

New Jersey’s real estate market has been fairly fractured since the Great Recession ended in 2009. A slow recovery has meant many are still waiting for their property values to recover, but that’s certainly not true across the board.

A handful of towns are seeing incredible demand and, combined with low inventories, prices have been skyrocketing in recent months.

The 19 towns below all, according to real estate tracking giant Zillow, have seen their median home values peak at the start of 2017. We used Zillow’s own Home Value Index for our analysis (methodology here) and excluded shore communities where there is a strong secondary home market.

Each of these towns stand a head and shoulders above New Jersey’s statewide price growth during the last year and some have seen home values soar to remarkable heights.

https://www.nj.com/news/index.ssf/2017/05/the_hottest_real_estate_markets_peaking_right_now_in_nj.html