As the spring market begins to heat up, the hottest towns for homebuying across the country are starting to shift. In February, New Jersey had 25 towns rank among the top 100 hottest real estate markets in the nation, according to recent data from Realtor.com.
Of these 25 towns, four were in the ranking’s top 10. And 11 of the hottest New Jersey real estate markets were in North Jersey.
What North Jersey towns made the hottest real estate market list?
The overall highest New Jersey town to make the list was Montclair, coming in fourth behind Columbus, Ohio; Ballwin, Missouri; and Lancaster, Pennsylvania. With a hotness score of about 99.86, the median listing price for a home in Montclair in February was $844,250. And homes are only staying on the market there for fewer than nine days.
The second highest-ranking North Jersey town, and the fourth highest ranking in New Jersey, was Ramsey. The town had a hotness score of about 99.39 in February, with a median listing price of $712,425. Homes stayed on the market for nearly 16 days.
Consistently ranking as one of the hottest homebuying towns in the state, Ridgewood placed 30th in the ranking. Last summer, Ridgewood was named the overall third-hottest town for homebuying across the country, but has since dropped considerably. The town has a hotness score of about 98.79 and a median listing price of $1,417,000. Homes stayed on the market for about 20 days in Ridgewood.
More:Want to live in the suburbs with easy access to NYC? Ridgewood might be the place for you
Other North Jersey towns to make the top 100 include Nutley (34th), Chatham (37th), Pompton Lakes (47th), Morristown (48th), Denville (63rd), Parsippany (82nd) and Rutherford (90th).
Realtor.com’s hotness ranking is calculated from data collected on its site based on supply — the number of days a property has been actively listed — and demand — unique views per property.
Here’s the full ranking of the 100 hottest real estate markets across the country in February 2024:
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.
