Closter, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Closter Neighborhoods Since 2000




Closter, NJ Real Estate Data


Closter Housing Market Information

With a population of 8,662, 2,697 total housing units (homes and apartments), and a median house value of $705,066, 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.

Single-family detached homes are the single most common housing type in Closter, accounting for 86.05% of the borough's housing units. Other types of housing that are prevalent in Closter include duplexes, homes converted to apartments or other small apartment buildings ( 6.18%), row houses and other attached homes ( 3.83%), and a few large apartment complexes or high rise apartments ( 2.28%).

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 82.87% of Closter's homes, and 71.03% 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 50.72% of the borough's housing hails from this era. Other housing ages represented in Closter include homes built before 1939 ( 20.81%) and housing constructed between 1970-1999 ( 20.77%). There's also some housing in Closter built between 2000 and later ( 7.70%).

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 -0.62% during the period.

Over the last year, Closter appreciation rates have trailed the rest of the nation. In the last twelve months, Closter's appreciation rate has been 3.49%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Closter were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Closter's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$705,066

Closter, NJ HOME PRICES

Value Range
> $1,100,000 9.4
$825,001 - $1,100,000 24.7
$550,001 - $825,000 33.3
$440,001 - $550,000 18.0
$330,001 - $440,000 9.5
$220,001 - $330,000 4.0
$110,001 - $220,000 0.2
$56,001 - $110,000 0.4
$0 - $56,000 0.4

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.76395151373192 10.5691056910569

Number Of Homes And Apartments:
2,697

Rent & Ownership

 

Average Market Rent:
$2,243 / per month

Homeownership Rate

Homeownership
Owners 82.87
Renters 17.13
Vacant 2.57

Housing Market Details

 

Age of Homes

AGE OF Closter HOMES
2000 or Newer 7.7
1970 - 1999 20.8
1940 - 1969 50.7
1939 or Older 20.8

Types of Homes

TYPE OF Closter HOMES
Single-Family 86.1
Townhomes 3.8
Small Apt. Buildings 6.2
Apt. Complexes 2.3
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Closter HOMES
No Bedroom 0.00
1 Bedroom 2.93
2 Bedrooms 11.09
3 Bedrooms 38.98
4 Bedrooms 32.04
5 or more bedrooms 14.96

Closter Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
67.72% 3.09% 7 8
* 10 is highest