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Rent To Own Homes in Summit, NJ

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Summit, NJ Foreclosures

How much do homes sell for in Summit, NJ?
The average home price is currently $1,454,434.
In Summit, NJ, how many homes are available?
There are currently 5 active home listings available in Summit.
What’s the average rental cost in Summit, NJ?
The average rental price in Summit is $3,728.
What is the most expensive home in Summit?
The most expensive home sold in Summit had a price of $46,131,754.
What is currently the cheapest priced home in Summit, NJ?
The cheapest home for sale in Summit is priced at $95,444.

Living in Summit, NJ

Summit, NJ, is a picturesque city that offers a perfect blend of urban living and suburban tranquility. With an active community, excellent schools, and easy access to New York City, it attracts families and professionals alike. Parks, recreational activities, and a bustling downtown area create a vibrant lifestyle for residents.

Current Market Conditions in Summit, NJ

The real estate market in Summit has shown robust growth over the past year, with increased demand for single-family homes and a competitive market for buyers. The average home price in Summit has risen steadily, and homes tend to sell quickly due to the area's desirable location and amenities.

Current trends indicate a steady appreciation in home values, driven by the area's excellent schools, strong community engagement, and close proximity to major urban centers. New developments and renovations in the downtown area also contribute to the ongoing demand.

Home Value Estimator For Summit, NJ

There are currently 7,248 real estate properties in Summit, NJ, with a median automated valuation model (AVM) price of $1,197,808.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Summit, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Summit, NJ, is $1,454,434.00, with the most expensive house in Summit, NJ, topping out at $46,131,754.00 and the cheapest home in Summit, NJ, clocking in at $95,444.00. In other words, there’s something for every potential homebuyer or savvy investor in Summit, NJ!

Rent Prices In Summit, NJ

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Summit, NJ, is on a rollercoaster ride. The average rent price in Summit, NJ, is $3,728.00. Indeed, when looking to rent in Summit, NJ, you can expect to pay as little as $1,500.00 or as much as $7,680.00, with the average rent median estimated to be $3,570.00. The good news is that finding an affordable and desirable property to rent in Summit, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Summit, NJ Rent To Own Homes

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