Average Home-Sale Price in Fort Lee Drops [Interactive Map]

By Colleen O'Dea, NJ Spotlight

The national housing market may be on the rebound, at least for new-home sales, but prices in New Jersey are still dropping in most communities, state data shows.

According to an analysis of the average residential sales price for New Jersey communities over the last five years, the typical sales price dropped between 2011 and 2012 in almost three-quarters of towns. In 21 municipalities, the decline was more than 25 percent from year-to-year. And nine in 10 municipalities logged an average home sales price in 2012 that was lower than five years earlier.

Average home-sale prices in Fort Lee have dipped 19 percent since 2008.

Homes sold in Fort Lee in 2012 went for an average of $450,886 down more than 10 percent from the prior year, where prices averaged $501,627. Here is a breakdown of the averages:

• 2012: $450,886
• 2011: $501,627
• 2010: $504,199
• 2009: $524,731
• 2008: $556,319

Read more and view an interactive map of average home-sale prices across the state by clicking here.

NJ Spotlight is an issue-driven news website that provides critical insight to New Jersey’s communities and businesses. It is non-partisan, independent, policy-centered and community-minded.