An unassuming Short Hills home in suburban New Jersey sparked a fiery bidding war before selling for an eye-watering $620,000 above its asking price this month.
At just 2,385 square feet, no one would mistake this gray-painted residence as a luxury listing. Interest in the four-bedroom, two-and-a-half bath home surpassed expectations after it listed in December.
What’s more, the residence hosted more than 100 tours in just 48 hours. In that timespan, it garnered an impressive 24 offers.
Despite its humble appearance and modest size, the home entered contract after just seven days. It officially sold this month for $1.72 million — a whopping 50% increase over its original price tag of $1.1 million.
Saritte Harel, whose team at Keller Williams handled the listing, called the frenzied sale “unprecedented.”
“This sale exemplifies the current state of the New Jersey housing market,” said Harel, who lives in the area herself, in a release. “With limited inventory and strong buyer demand, competition is intense, and properties in prime locations like Short Hills are highly sought after.”
Harel described the property as a “fixer-upper.” Its former owner, Harel said, is more than 100 years old.
“The value was really in the potential location, the clean canvas, you can kind of do what you want,” Harel told The Post.
The listing’s immense popularity proves the enduring allure of city-accessible New Jersey suburbs. The Cape Cod-style home, located well within the New York metropolitan area, just a 12-minute walk from a New Jersey Transit station. Its owner can enjoy a direct train route Manhattan in less than an hour.
Despite the home’s needed upgrades, Harel said the marathon two days of tours on the 1.1-acre property included hopeful homeowners, and then some.
“A lot of builders bid on it,” Harel said. “Because there’s an upside to flip a house with a walk to the train.”
Short Hills, a stylish suburb within Millburn in Essex County, was among six New Jersey ZIP codes ranked among the most expensive in the US last year. The commuter town attracts a wealthy set in search of a trendy lifestyle with serene surroundings. Its median household income in 2022 was just over $250,000.
Despite Short Hills’ well-heeled status, the speed and size of the home sale was a real standout.
“I do a lot of business here and I see the trends, and this was an unusual one,” Harel said.
Built in 1948, the home’s dated interior still had plenty to recommend itself. The kitchen overlooks the Cora Hartshorn Arboretum and Bird Sanctuary, offering a private and relaxing view of nature. It also boasts hardwood floors throughout and a large basement.
However, Harel said the winning bidder — a local family — plans to tear down the old facade in favor of a new build.
