As the real estate market continues to evolve, homebuyers in North Jersey are always on the lookout for up-and-coming towns that offer both value and convenience. While some towns like Ridgewood, Wayne, and Denville have been the hotspots in recent years, real estate agents have identified several other towns that could see a surge in demand from homebuyers in 2024. Let's take a closer look at these potential hidden gems.
Westwood
Westwood Train Station.
Known as the "Hub of the Pascack Valley," Westwood offers a historic downtown, a thriving shopping district, and excellent connectivity to New York City through its centrally located train station. According to Max Stokes, a partner of the Fox & Stokes team at Compass Real Estate, Westwood is an up-and-coming town with a robust downtown that many buyers value. With its relative affordability compared to surrounding areas, Westwood is poised to attract homebuyers.
Glen Rock
Rock Road in downtown Glen Rock.
Located along the border of Bergen and Passaic counties, Glen Rock offers a family-friendly community with a popular downtown area and two train stations. Roi Klipper, an agent with Corcoran Infinity Properties, highlights the town's proximity to New York City and highly-rated school system as key attractions for homebuyers. With ongoing revitalization efforts in the downtown area, Glen Rock is expected to become even more appealing in the new year.
Hackensack
Main Street in downtown Hackensack, NJ.
Hackensack offers a diverse range of housing options, from high-rise apartments to traditional single-family homes, making it a desirable destination for homebuyers looking for variety. Betti Russo, a broker sales associate with Keller Williams Prosperity Realty, points out that Hackensack's location and ongoing upgrades make it an attractive choice, particularly for millennials and entrepreneurs. With a revitalized downtown and an array of new amenities, Hackensack is set to experience continued growth.
Oakland
Hopper Lake off Franklin Lakes Road in Oakland, NJ.
Oakland, situated along the Bergen-Passaic border, offers a quiet suburban lifestyle with a mix of upscale living and natural beauty. According to Russo, Oakland provides a more affordable alternative to neighboring towns like Wyckoff and Franklin Lakes while still offering the charm of Bergen County and access to the Ramapo Mountains. With a variety of housing options available, Oakland is sure to attract homebuyers looking for a beautiful town with a wide range of lifestyles.
Ringwood
Brielle Walker, 7 of Ringwood, uses a hoverboard as she watches her brother, Dylan, 9, kick a soccer ball at the New Jersey State Botanical Garden Ringwood State Park in Ringwood, N.J.
For homebuyers seeking a more spacious and nature-oriented community, Ringwood offers larger properties and green spaces. Russo notes that Ringwood provides more value for money compared to its surrounding areas, making it an attractive choice for those looking to escape the busyness of city life. With its abundance of parks, lakes, and a thriving community, Ringwood promises a serene and family-friendly environment.
Morris Township
Loantaka Brook Reservation in Morris Township
Located in Morris County, Morris Township is emerging as a popular destination for homebuyers due to its bustling downtown and reasonable property prices. Will Alfaro, a sales associate with Coldwell Banker, highlights the area's accessibility to public transportation and its attractive real estate opportunities. With its prime location and a wide range of amenities, Morris Township is poised to experience strong demand in the coming year.
Bloomfield
Broad Street in Bloomfield
With its proximity to the popular town of Montclair, Bloomfield is becoming a sought-after location for homebuyers. Maddie McGay, a real estate reporter, explains that many people are being priced out of Montclair, leading them to consider Bloomfield as an alternative. Additionally, Bloomfield offers easy access to public transportation, New York City, and a vibrant downtown area. With its diverse amenities and lower median home value, Bloomfield presents an opportunity for homebuyers looking for affordability without sacrificing convenience.
In conclusion, the North Jersey real estate market is dynamic, and these towns offer promising opportunities for homebuyers in 2024. Whether it's the charm of Westwood, the family-friendly atmosphere of Glen Rock, or the variety of options in Hackensack, there is something for everyone. The allure of Oakland, the tranquility of Ringwood, the vibrancy of Morris Township, and the accessibility of Bloomfield further solidify these towns as potential hotspots. So, if you're considering buying a home in North Jersey, keep an eye on these emerging towns.