Summit, NJ has a reputation for grand homes in the upper price bracket.  Yet, of the 125 Summit NJ homes for sale right now, only 36% are over $1million!  The mid-point of the list of available homes is $749,000.  There are even TWO homes listed for sale at less than $200,000; though it should be pointed out that those are 1 BR co-ops, in a lovely pre-war building on Summit Avenue, within walking distance to everything!

Here's a quick overview of what you can get for under $1 million today!

Usually less than $200,000 gets you an apartment in Summit.  there are some small homes available in the mid-$300s, but rarely under that number.

By the time you get into the $300,000 range, there are some 2, 3 and even 4 bedroom homes for sale. Whether you prefer a ranch, or a Dutch colonial or an expanded cape, these homes are good starter homes – compact, efficient and easy to run.

At the $400’s you begin to see a number of Summit’s expanded Capes. These are quite charming with lots of character.

Homes in the $500s tend to be larger, with larger rooms on a slightly bigger piece of property. You also start to see a family room or den, in this price point.

It is remarkable given Summit’s high end reputation that you can still find a brand new townhouse in the $600s. Some classic smaller CHC homes also start to become available now, though they are unlikely to be renovated or in pristine condition, unless somewhat smaller compared to their competition.

By $700,000 you're starting to see some lovely homes on a nice piece of property.  Not huge, or high-end, but often nicely appointed and attractive.

$800,000 in Summit buys you even more space, closer into town, or even a small new construction.  Also, you'll find Center Hall Colonials depending upon the usual variables of Location and Condition.

We're just shy of $1 million here in the price range and you can expect to see the beginnings of luxury, whether in terms of renovation, or extra space, or a slightly bigger plot. Also a more convenient location to the thriving hub of downtown Summit.

See what I mean?  Lots of variety, and we haven't even crossed the "1"!!  Stay tuned.  In my next blog, I give you a tour of the rest of our market.