These are the 10 most expensive ZIP Codes in NJ

Alpine lost its place as New Jersey’s most expensive ZIP code after a six-year reign.

The city of Bergen County, which had an average sale price of $2.18 million, was edged out by the deal from Monmouth County, which had an average sale price of $2.3 million in 2022, according to real estate data company Property Shark.

Property Shark released its annual list of the country’s 100 most expensive ZIP Codes on Thursday. New Jersey had four ZIP codes on the list – a record for the Garden State. The previous record was set last year when three New Jersey ZIP codes made the top 100.

Property Shark used residential transactions for condominiums, cooperatives, single and two family homes that closed between January 1, 2022 and October 31, 2022 to create the list. And they only used zip codes that had at least three transactions during that period.

A total of 128 zip codes made the 100 list because of 22 ties. They come from 10 different states. California had the most with 90 and New York was second with 17.

The four New Jersey ZIP codes that made the national 100 ranking were Deal (#58), Alpine (#66), Avalon (#82), and Short Hills (#95).

Alpine has been number one in the state since 2016. Deal was already on the list in 2019. Avalon debuted last year and returned for the second time, up 10 spots after its median selling price increased by 20%. Short Hills is back after being absent from the roster for a number of years. It was ranked from 2016 to 2019.

Low taxes and proximity to the beach, Long Branch Pier Village and Asbury Park are major reasons Deal real estate fetches high prices, said Grace Marcus, a real estate agent at Sonya Grill Real Estate.

“They’re in the mix but not in the traffic space,” Marcus said, adding that homes there typically have generous lots of 150 feet by 150 feet.

“There will always be a nuance to life in Deal because of the beaches… the local beach club, it’s clean, the streets are wider and some of the houses are from the 19th century,” she said.

Short Hills has been making a comeback due to the COVID trend of city dwellers moving to the suburbs, according to Simon Westfall Kwong of Keller Williams in Short Hills.

“We have a lot of people that come from New York City, Hoboken, Jersey City and Brooklyn,” he said. “They’re looking for places to commute from and schools.”

Short Hills has a direct train downtown and a top-level school system, he said.

“We have extremely low inventories. Several bids are continuing and they are above the asking price,” Kwong said. “We are not feeling the effects of the increased interest rates.”

Of the 10 most expensive ZIP codes in New Jersey, three are in Monmouth County, two each in Ocean and Cape May counties, and Morris, Bergen, and Essex counties each had one.

Here are the 10 most expensive ZIP codes in New Jersey and the average selling price in 2022, according to Property Shark:

10. Beach Haven – $1.35 million

9. Allenhurst – $1.36 million

8. Rumson – $1.406 million

7. New Vernon – $1.57 million

6. Mantoloking – $1.575 million

5. Stone Harbor – $1.777 million

4. Short Hills – $1.825 million

3. Avalon – $2 million

2. Alpine – $2.18 million

1st deal – $2.3 million

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Allison Pries can be reached at [email protected].