Nutley’s housing market continues to grow stronger, Mayor John V. Kelly III said today.
Last February, Realtor.com ranked Nutley 34th in the top 100 hottest real estate markets in the nation and just last week, the same site listed Nutley as the top home-buying town in Essex County.
Home sales throughout the township, he says, have continued to rise post-pandemic in record-setting numbers. Earlier this month, a property on High Street was sold for $1.3 million.
“As I have said many times before, Nutley is a destination in life, it is not a stop along the way,” Kelly said. “Nutley is a vibrant community. Neighbors are more than neighbors, they are friends. We are a healthy, walkable community with world-class parks. Our public safety is second to none. And our services are exceptional. This is the perfect community to raise a family. Nutley’s red hot real estate market should not surprise anyone.”
This appears to be confirmed by real-estate experts.
“Since 2020, sales in Nutley have grown substantially,” realtors Mary and Michael Ryder, of a local real-estate firm, said jointly. “The average price back then was $394,000. Now, it’s $665,000. And we are seeing homes selling from 6% to 18% over asking price.”
In the last few months alone, Rubino and Ryder have sold houses from $34,000 to $144,000 over asking price.
“The demand far outweighs the supply,” Mary Ryder said. “Once we list a home, nothing stays on the market more than a week or two. … There are so many great things about Nutley that it almost sells itself. From our unique park system to the size of the town to the grammar schools that are all within walking distance, and of course the people who are so welcoming.”
Ryder also says almost 24% of her sales are to former Nutley residents who have returned to the town they grew up in.
“We see quite a few people that left after high school or college, started their careers and a family and now want to come back to the place they love,” she said.
Another realtor, Jim McGuire, also sees the township’s home values rising.
“When we take potential buyers around, they are extremely impressed with the parks, the safety, the feel and the people of Nutley,” he said. “It is a very desirable town to live in with all these features plus the access to Route 3.”
Meanwhile, the governing body seems to be thrilled with all of this.
“It has always been the Board of Commissioners’ goal to ensure Nutley remains a wonderful place to live, work and raise a family,” Commissioner Thomas J. Evans, director of Revenue and Finance, said. “Over the last two decades, we have strived to keep our township as affordable as possible and to be honest, that’s been a challenge during the last few years. But thankfully it hasn’t affected our home values or the people’s desire to move here.”
As the growth continues, taxes are not increasing, on the municipal side. But officials do acknowledge north Jersey is always going to be an expensive place to live.
“The tax issue really never comes up,” Mary Ryder said. “Most people know that if you want to live in North Jersey, you have to expect taxes to be higher.”
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Kevin A. Canessa Jr. is the editor of and broadcaster at The Observer, an organization he has served since 2006. He is responsible for the editorial content of the newspaper and website, the production of the e-Newspaper, writing several stories per week (including the weekly editorial), conducting live broadcasts on social media channels such as YouTube, Facebook, and X, including a weekly recap of the news — and much more behind the scenes. Between 2006 and 2008, he introduced the newspaper to its first-ever blog — which included podcasts, audio and video. Originally from Jersey City, Kevin lived in Kearny until 2004, lived in Port St. Lucie. Florida, for four years until February 2016 and in March of that year, he moved back to Kearny to return to The Observer full time. Click Here to send Kevin an email.