New Jersey’s fiercely competitive real estate market has 32 NJ towns ranked in the top 150 hottest housing markets in the nation, the latest Realtor.com data shows.
The highest New Jersey entry on the list was Montclair at 4th hottest in the nation as of February, according to Realtor.com. Montclair had a median listing price of $844,250 last month.
New Jersey also has four of the top 10 real estate markets and 25 of the top 100 spots on the latest list.
Nationally, a part of Columbus, Ohio and Ballwin in Missouri have the top two hottest markets.
Realtor.com calculates its hotness rank based on supply and demand data on its site, Sara Wiskerchen, director of corporate communications at Realtor.com told NJ Advance Media in an email.
Realtor.com determines demand based on unique views of properties on Realtor.com, and supply through the number of days a property has been actively listed on Realtor.com. These two scores are then averaged to create a hotness score, and then ranked.
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Amira Sweilem may be reached at [email protected].
