Market Conditions in 08820>Question Details

Jojo George, Home Buyer in New Jersey

Why house price in 08820 (Edison,NJ) are high compared other zip codes in edison?

Asked by Jojo George, New Jersey Sat Mar 8, 2008

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There are more homes for sale over $700,000 in the zip 08820 vs. the other zip codes in Edison. In 08820, there have been several new constuction home sites in the recent years. Some of the homes are larger, have more amentiies and on larger lots. There are also some well established mature neighborhoods with homes even over 1M.

Edison has several hundred properties on the market, and is a larger town (for NJ!). Options in housing can range from the 200's to over 1M.
1 vote Thank Flag Link Wed Mar 19, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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could it b that north edison homes have higher appraisals ?
1 vote Thank Flag Link Wed Mar 19, 2008
You will see many nice new houses in 08817 and 08854 as high as 08820 in the years to come. Why? Take a look at Edison Exchange http://edisontrain.com/ going to build the Edison Town Center in 08817 http://ems.gmnews.com/news/2008/0305/Front_Page/004p1_xlg.jpg , and if you got a chance to attend one week Design meeting at Pine Manor http://www.pinesmanor.com/ recently, you would be very excited and may be start looking for some real estate investment around Edison Exchange ...
Web Reference: http://www.pinesmanor.com/
1 vote Thank Flag Link Tue Mar 18, 2008
Edison is very large in both population and distance (hence 3 zip codes). There are 2 high schools and therefore differences in the schools. 08820 is closer to NY. As you get closer to the city, prices typically rise. As was already mentioned, the houses vary by area. Most of 08817 has smaller homes built on slabs (no basements). Most of 08837 has smaller to average sized homes, many built over 40 years ago. Conversely, most homes in 08820 were built in the last 45 years and are average to larger than average in size. These factors affect the prices.

I have lived in Middlesex county my whole life. Feel free to contact me for more information.

Rafi Footerman
Mid Jersey Inspections
732-906-4100
NJ Home Inspector Lic. #076900
1 vote Thank Flag Link Sun Mar 9, 2008
there is no comparison btwen the other zip codes and 08820. the other zipo coes are indeed edison, but 08820 borders scotch plains and clark. that is where the million dollar homes are. the biggest difference between the 2 are also the tax bite. north edison already has a completely different personality and is surrounded by milliom dollar homes.
1 vote Thank Flag Link Sun Mar 9, 2008
In general, in Greater New York Area, the closer to NYC (or Manhattan in specific), the more expensive the housing. e.g. land cost higher, construction cost higher ...etc.

So, if you look at the map of Edison NJ, 08820 is about two NJ Train stops closer to Manhattan using Metropark Train Stn http://metroparktrain.blogspot.com/ and one stop south is Metuchen Train Stn, and one more stop is Edison Train Station 08817 http://edisontrainstation.blogspot.com/

So, if you do not mind to be two stops away, just a few more minutes more, you can save some money on housing at Edison 08817 and 08837 area or Piscataway 08854 area.

Also, the closer to Manhattan, the job pay seems to be higher, so if possible, everyone should consider keep changing jobs toward Manhattan to get the highest pay of their education and experience.

However, the farther from Manhattan, the cheaper the living cost, so one need to consider to move out of tiny Manhattan, or even Jersey City, ...etc to cheaper and bigger homes for family life.

But, as you know, there is always a balance of job, family and commute time and cost.
0 votes Thank Flag Link Fri Jun 6, 2008
Yes, Edison just had a 1.4 million house sold under attorney review at 7 Sunset Av, Edison NJ 08820 http://www.realestateshows.com/show.php?mls=strict&id=227541 and in 2007, Edison has close to 1,000 homes sold, according to NJ State Goverment website.

On the other hand, consider Monmouth Junction NJ where we are, my neighbor, my kids' classmate, just invited us to their home. Wow! $1.5 million dollar house on 5 acre!!! We are at 08852, so don't think only 08820 has luxury house, ok?
0 votes Thank Flag Link Thu Mar 27, 2008
Btw, I sold my 2br 2ba condo at Edison and moved to Forest Gate at Somerset.

I am working at AT&T Middletown now and no longer need train to commute. Otherwise, if you did a search, you shall find 2br 2ba condo at Edison is about the same as 3br townhouse at Forest Gate at Somerset.

School wise, 08820 has a JP Stevens High, very good, but I am planning to send my kid to Middlesex Academy of Science that is new and as good and located at Middlesex County College.
0 votes Thank Flag Link Sat Mar 8, 2008
Edison has 3 zip codes, 08820, 08817 and 08837. If you drive around, you will see many big houses in 08820, so the price is high for bigger house, whereas 08817 and 08837 have many smaller houses, like 3br ranches, condo/townhouses, so price seems to be lower, and it make sense for smaller houses to list lower, right?

If you come to Somerset, you will see even cheaper price. Like in our Forest Gate townhouse, you can get one for only $250k. But then, when I went to Philly work, I had to drive to Edison Train Station first to park the car there then take train to Trenton, it is a bit inconvenience. But, if, say, you work at Rutgers or Johnson and Johnson, Somerset is as convenient.
0 votes Thank Flag Link Sat Mar 8, 2008
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