North Arlington Ranks 14th in State for Hot Housing Market, Report Shows

North Arlington has the 14th hottest real estate market in New Jersey. The Otteau Group, an independent firm, ranked towns using rising home prices and available inventory as key measures.

The borough has just a 1.1 months’ supply of homes on the market. Properties are selling fast at current sales prices. Home prices in the town are climbing monthly by 0.4%. Annual increases hit 5%, according to the report.

The median price for a home hit $650,000 in March, up 8.4% since last year, according to Redfin. The median sale price per square foot sits at $390. That’s up 19.8% since last year.

Within Bergen County, the town has the fifth hottest market. Glen Rock, Ridgewood, Wood Ridge, and Rutherford rank higher.

“North Arlington has become one of those communities that people desire. With an attractive, redeveloped main street and several quaint, safe residential districts, real estate buyers are more inclined to pay more when buying a home,” Mayor Daniel H. Pronti said, according to The Observer. “We have an extremely tight inventory of available real estate, as more and more people see the benefits of living in our town.”

The town offers a short commute to Manhattan. Parks, restaurants, and a business sector serve residents and visitors. Transportation infrastructure and public amenities drive demand.

“With the ongoing upgrades and beautification of North Arlington, and much more on the way, we are not surprised to see that any new real estate listing is typically off the market within days,” Pronti said. “In North Arlington, you can still get more space for your real estate dollar, as compared to some other Bergen County towns. Buyers are well aware of that, and it is helping fuel this market to levels we have never experienced.”

Lyndhurst also placed in the Top 50 towns. It ranked 15th on the list.

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