Closter, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Closter Neighborhoods Since 2000




Closter, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Closter Housing Market Information

With a population of 8,662, 2,687 total housing units (homes and apartments), and a median house value of $835,748, Closter house prices are not only among the most expensive in New Jersey, Closter real estate also is some of the most expensive in all of America.

Closter is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Closter than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Closter. Owner-occupied housing accounts for 79.88% of Closter's homes, and 69.99% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Closter's housing was primarily built during this period, from the '40s through the '60s. A full 50.83% of the borough's housing hails from this era. Other housing ages represented in Closter include homes built between 1970-1999 ( 22.91%) and housing constructed before 1939 ( 20.06%). There's also some housing in Closter built between 2000 and later ( 6.20%).

Closter Home Appreciation Rates

Real estate appreciation rates in Closter's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.39% during the period.

NeighborhoodScout's data show that during the latest twelve months, Closter's appreciation rate, at 4.30%, has been at or slightly above the national average. In the latest quarter, Closter's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Closter's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$835,748

Closter, NJ HOME PRICES

Value Range
> $1,118,000 11.8
$838,001 - $1,118,000 23.2
$559,001 - $838,000 32.6
$447,001 - $559,000 17.4
$336,001 - $447,000 9.4
$223,001 - $336,000 4.2
$112,001 - $223,000 0.5
$56,001 - $112,000 0.3
$0 - $56,000 0.6

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
1.71100433610688 5.48780487804878

Number Of Homes And Apartments:
2,687

Closter Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
68.49% 3.07% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,996 / per month

Homeownership Rate

Homeownership
Owners 79.88
Renters 20.12
Vacant 3.07

Housing Market Details

 

Age of Homes

AGE OF Closter HOMES
2000 or Newer 6.2
1970 - 1999 22.9
1940 - 1969 50.8
1939 or Older 20.1

Types of Homes

TYPE OF Closter HOMES
Single-Family 88.7
Townhomes 2.7
Small Apt. Buildings 5.0
Apt. Complexes 3.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Closter HOMES
No Bedroom 0.00
1 Bedroom 3.28
2 Bedrooms 9.70
3 Bedrooms 34.67
4 Bedrooms 35.32
5 or more bedrooms 17.03