Glen Ridge New Jersey market spotlight

We took a detailed look at the housing market in Glen Ridge NJ, Essex County, NJ, analyzing changes in pricing and high end activity over time. Here’s a summary of the findings:

Median prices have been on a steady uptrend on a year over year basis in Glen Ridge. Not much in my opinion can be gleaned from the extreme low and high end sale prices since these tend to be outlier sales. On the low end it might be a home with severe water damage or a very poor location. Digging in past the number on the high end, one finds that the top end property sale price has a lot more to do with differences in features among the top priced homes that happened to sell that year rather than any type of fluctuation or trend. The one trend which is notable, however is the number of homes selling for $1.4 million or more; that number seems to be on the uptrend significantly as well, especially if you consider the fact that 2 have already closed in 2016 and 2 are currently under contract and there’s still almost half a year yet to go.