New Jersey · as of September 2026
What counts as luxury real estate in New Jersey
The convention this site uses
In New Jersey, this site treats homes at $2M and above as luxury. That is our own fixed band, set so the covered markets are the ones where the top of the market actually trades at that level. It is not a loan limit and it is not a median; the medians below are the middle of each market, and luxury inventory trades well above them. The rule and its reasoning are on the methodology page.
New Jersey's luxury markets by home value
Zillow Home Value Index, typical middle-tier home, latest month.
| Market | Median value | Ranked agents |
|---|---|---|
| Deal | $4,574,000 | 10 |
| Alpine | $3,262,000 | 10 |
| Avalon | $2,774,000 | 10 |
| Stone Harbor | $2,618,000 | 10 |
| Sea Girt | $2,579,000 | 10 |
| Saddle River | $2,432,000 | 10 |
| Short Hills | $2,388,000 | 10 |
| Rumson | $2,378,000 | 10 |
| Mantoloking | $2,116,000 | 11 |
| Englewood Cliffs | $1,814,000 | 10 |
| Franklin Lakes | $1,643,000 | 10 |
| Spring Lake | $1,530,000 | 10 |
| Far Hills | $1,444,000 | 10 |
| Summit | $1,410,000 | 10 |
| Chatham | $1,377,000 | 10 |
| Ho-Ho-Kus | $1,363,000 | 10 |
| Tenafly | $1,330,000 | 10 |
| Ridgewood | $1,269,000 | 10 |
| Montclair | $1,171,000 | 10 |
| Bernardsville | $1,046,000 | 10 |
| Cresskill | $1,037,000 | 10 |
| Basking Ridge | $951,000 | 10 |
| Princeton | $920,000 | 10 |
| Bay Head | $790,000 | 12 |
| Hoboken | $680,000 | 10 |
| Jersey City | $580,000 | 10 |
What changes at this price in New Jersey
Each fact links to the statute or agency that says so. Facts we could not verify against an official source are left out rather than guessed.
- Transfer and mansion taxes
- New Jersey sellers pay the graduated Realty Transfer Fee, which reaches $6.05 per $500 (1.21 percent) on the portion of the price above $1 million. For deeds recorded on or after July 10, 2025 the seller also pays the former buyer's mansion tax, now graduated at 1 percent for sales over $1 million, 2 percent over $2 million, 2.5 percent over $2.5 million, 3 percent over $3 million, and 3.5 percent over $3.5 million. Source
- Agency and dual agency
- New Jersey permits disclosed dual agency only with the informed consent of both parties, and licensees must present the Consumer Information Statement on New Jersey Real Estate Relationships before the first discussion of a specific property. Source
- Seller disclosure
- New Jersey has no statutory general disclosure form, but sellers must disclose known latent defects, the Seller's Property Condition Disclosure Statement is customary, and since March 2024 sellers must make the statutory flood risk disclosure. Source
- State estate or inheritance tax
- New Jersey repealed its estate tax for deaths on or after January 1, 2018 but keeps an inheritance tax. Spouses, descendants, parents, and grandparents are exempt; siblings and in-laws pay 11 to 16 percent, and other heirs pay 15 to 16 percent. Source