Check Out Some Homes in NJ’s Most Expensive ZIP Codes (PHOTOS)
You may not pass them everyday on your way to and from work, but New Jersey is no stranger to multi-million dollar homes.
A number of them changed hands over the past year or so, and the gallery above shows you some properties still up for grabs.
So if you have a few million dollars to spare, have fun and go shopping. If not, take a look at a new list from real estate data site PropertyShark, which unveils the most expensive ZIP codes in New Jersey, based on median home prices in 2016.
Alpine's 07620 ZIP grabbed the top spot with a median home price of $2,050,000. PropertyShark describes the New York City suburb as a "long-time favorite for the super rich," including Stevie Wonder and Alicia Keys.
With a median home price of $1.43 million, Short Hills' 07078 was second on the list. The section on Millburn landed the top spot on Time magazine's 2014 list of the 10 Richest Towns in America.
ZIP code 08247 in Stone Harbor ranked as the third priciest, boasting a median home price of $1.43 million. It has been described by the New York Times as featuring "block after block of gleaming McMansions and elegant shops."
Rounding out the top 10 were ZIP codes in Englewood Cliffs, New Vernon, Mantoloking, Avalon, Saddle River, Far Hills and Deal.
Bob Oppenheimer, president of New Jersey Realtors, said many of these communities have been at the high end of pricing for a while now, perhaps flip-flopping spots on the list from time to time.
"You've got demand for those communities. They're all very strong communities and strong draws," Oppenheimer said.
For some spots, a main draw is the proximity to New York City. For others, it's the short distance to the ocean, or land size.
Oppenheimer said Alpine and Engelwood Cliffs also benefit from "very low property taxes," noting that realtors are working on a national level to ensure mortgage interest and property taxes remain tax deductible.
Oppenheimer said multi-million dollars homes in New Jersey are not changing hands as much as they used to, mainly due to lagging consumer confidence.
"We really haven’t, in our area, had the recovery that we were used to in past cycles," Oppenheimer said.