Summit Ranks 4th On ‘Best N.J. Real Estate Markets’ List

SUMMIT, NJ-- Summit residents live in one of the best real estate markets in the state, according to a new report.

The NJ.com rankings, complied by NJ Realtors, factored in median sales price, the average number of days that homes spend on the market and the average percent of list price received for properties that sold through July of 2016 when comparing different markets in New Jersey.

Here are the "10 Best Real Estate Markets" in New Jersey, and the median home sale price, according to NJ.com:

1. Millburn - $1,212,500 (41 average days on market)
2. Hoboken - $685,000 (32 average days on market)
3. South Orange - $679,000 (39 average days on market)
4. Summit - $854,000 (48 average days on market)
5. Glen Ridge - $609,576 (39 average days on market)
6. Chatham Borough - $764,500 (40 average days on market)
7. Montclair - $625,000 (47 average days on market)
8. Fair Haven - $795,000 (55 average days on market)
9. Maplewood - $575,000 (38 average days on market)
10. Ridgewood - $720,000 (47 average days on market)

You can check out the full list here.

Photo: Flickr Commons