Home Values

Berkeley Heights Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$512,300

  • -3.5% 1-year change
  • -1.7% 1-year forecast

The median home value in Berkeley Heights is $512,300. Berkeley Heights home values have declined -3.5% over the past year and Zillow predicts they will fall -1.7% within the next year. The median list price per square foot in Berkeley Heights is None. The median rent price in Berkeley Heights is $2,700, which is higher than the New York Metro median of $2,500.

Foreclosures will be a factor impacting home values in the next several years. In Berkeley Heights 2.3 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 2.2 and also lower than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Berkeley Heights is 10.5%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Berkeley Heights homeowners underwater on their mortgage is 4.8%, which is lower than New York Metro at 13.1%.

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Relative ZHVI
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Berkeley Heights Market Overview

Data through Apr 30, 2015
  • $512,300 ZHVI
  • -1.7% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Apr 30, 2016)
  • No data Median listing price
  • $525,385 Median sale price (Feb 28, 2015)
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Berkeley Heights Market Health

Data through Apr 30, 2015
  • 6.4/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • No data Average days on Zillow
  • 4.8% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 10.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

2.3 homes(Jan 31, 2015) Berkeley Heights
2.2 homes New York Metro
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Chatham Township $733,900
Watchung $619,000
Mountainside $573,800
Name Median ZHVI
New Providence $547,400
Long Hill Township $468,800
Scotch Plains $423,900
Name Median ZHVI
Fanwood $405,700
North Plainfield $242,400
Plainfield $176,800

Listings & Sales

  • No data
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Berkeley Heights Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $2,580 Berkeley Heights
    $2,372 New York Metro
    $1,364 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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