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Berkeley Heights, NJ Real Estate Market Update 11/2007

By
Real Estate Agent with Kristin Balsley

There are many things to consider when choosing a community to live in.  If close proximity to NYC and top rated schools are high on your priority list, then Berkeley Heights, NJ may be the right community for you.

Berkeley Heights, NJ is a quiet community in Union county nestled in the Watchung Mountains.  It has a population of 12,913 residents.  CNN/Money magazine named Berkeley Heights, NJ one of the top 100 Best places to live in the United States, ranking it #45 in its July 2007 edition.

Berkeley Heights has a small downtown area housing restaurants, banks, shops, a movie theatre, supermarkets and train station.  The Berkeley Heights train station has NJ Transit Service to Hoboken and Mid-town direct service to NY Penn Station making this an attractive location for NYC commuters.  In addition to the mid-town direct train service, NJ Transit offers bus service to NY city's Port Authority Bus Terminal.  Berkeley Heights is conveniently located near routes 78, 287, and 24.

Berkeley Heights, NJ has long been known for its excellent school system consisting of an early childhood center servicing grades pre-K through grade 1, 3 elementary schools, 1 middle school and 1 high school.  In addition to these public schools, Berkeley Heights has 3 private pre-schools;  Westminster Nursery School, Union Village Nursery and Diamond Hill Montessori.

Berkeley Heights real estate offers a variety of housing types ranging from 1 bedroom condos to stately 7 bedroom single family homes.  Currently there are 77 active properties for sale ranging in price from $327,900 to $1,699,900 making this a good time for buyers who want choice. 

With a good selection of inventory, motivated sellers and interest rates remaining low, still at about 6.25 for a 30 conventional loan, buyers may find this a good time to buy Berkeley Heights NJ real estate.  Although, Berkeley Heights has experienced changes in its market, as has the entire state, Berkeley Heights still continues to be a strong market.  In the past 6 months, the average sale price was $630,775.  Also important to note, is that homes sold in this period received on average, 97% of their asking price with the average days on market being 69.  This average days on market is far fewer than many other towns throughout the state.

Berkeley Heights offers many opportunities for recreational activities.  It is home to a YMCA and several parks, the largest being Columbia Park.  Columbia Park, which is adjacent to Columbia middle school, offers tennis courts, 2 baseball fields, basketball courts and a large playground for children.  For those who enjoy swimming, Berkeley Heights has 3 swim clubs to choose from.

If you are interested in learning more about real estate in Berkeley Heights, NJ, please feel free to contact me.

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