07756, Ocean Grove, NJ

Ocean Grove, NJ is a small town located on the Jersey Shore. The population of Ocean Grove was 10,827 as of the 2010 census. The median household income in Ocean Grove was $92,821 in 2009, which is higher than the national median household income of $53,046. Home prices in Ocean Grove have been increasing steadily over the past few years and are now among some of the highest in New Jersey.

The home equity and home prices in Ocean Grove can be attributed to a number of factors. First and foremost, Ocean Grove is a desirable location that has seen steady growth over the past few years. Second, there is a large number of affluent residents who are able to afford high-priced homes in this town. Finally, Ocean Grove has relatively low taxes and minimal regulations that make it an attractive place to live and invest money.

As of September 2013, there were 1,711 single-family homes and condos for sale in Ocean Grove with an average price tag of $1 million. This represents an increase from 1,532 homes and condos for sale with an average price tag of $9682 as of September 2012. Over the same period of time (September 2013 – September 2012), the number of single-family homes and condos for sale decreased by 5%. However, during this same period (September 2013 – September 2012), the average price tag for a single-family home increased by 8%. It seems that while there may be fewer available units on the market at lower prices right now compared to two years ago, those looking to purchase a home are paying more overall due to increased demand from affluent buyers.