Real Estate Hot Spots for New Jersey
By EricR • Jul 28th, 2010 • Category: USANew Jersey, otherwise known as The Garden State, has much to offer in the way of real estate hot spots. Thanks to their top marks on important factors such as home values, school performance and proximity to services, the townships mentioned below made their way to the top of our list of enticing real estate in New Jersey. Indeed, those who are looking for homes for sale in New Jersey would do well to look into the townships listed below:
Chatham Township – This little municipality can be found in Morris County and is therefore declared to be the hottest hot spot for New Jersey real estate. While the average home sales price is in the mid-$800K range, it is so for a good reason. Their population growth has increased since ’00 unlike many neighboring towns and cities.
The value of homes has actually increased about 6% since 2006 which is incredibly impressive given the recent developments in the state of the economy. There is a remarkably low unemployment rate of 1.6% for the area and with the crime rate as low as 3.3% per 1,000 people, it’s hard to ignore the real estate possibilities that Chatham has to offer.
Upper Township – It’s slightly more populated than Chatham although the average home value is far lower; estimated to be in the $280K range. One thing is for certain for those looking to purchase homes for sale in New Jersey; they will not be cramped. There is a whopping 49% of open space found in this area. It makes for a spacious feel and a less crowded neighborhood for those who prefer more elbow room.
Verona Township – Any family who is looking for homes for sale in New Jersey would do well to think about their children’s education while selecting a place to live. The Verona Township spends on average about $8,947 per student which is well above the national average of $5,678. This means that children’s education in this area is a high priority. With only about 13 or 14 students per teacher, every child is given a learning advantage that they might not otherwise get in other areas.
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