I
n the heart of suburban New Jersey, a modest Short Hills home defied expectations with an explosive bidding war that culminated in a staggering $620,000 price surge above its asking figure. The unassuming 2,385-square-foot property, nestled on a 1.1-acre lot, belies its true value as a prime location within the New York metropolitan area.

    With its four bedrooms and two-and-a-half baths, this gray-painted Cape Cod-style home may not have seemed like a luxury listing at first glance. Yet, it attracted an astonishing 100 tours in just 48 hours, generating a whopping 24 offers. The frenzy didn't wane, with the property entering contract after a mere seven days.

    The sale's unprecedented nature is a testament to the current state of New Jersey's housing market, where limited inventory and strong buyer demand create intense competition for prime properties like this one. As Saritte Harel, whose team at Keller Williams handled the listing, noted, "The value was really in the potential location, the clean canvas – you can kind of do what you want."

    The new owners, a local family, plan to tear down the old facade and build anew, capitalizing on the property's prime location just a 12-minute walk from a New Jersey Transit station. This direct train route to Manhattan in under an hour is a major draw for those seeking a trendy lifestyle with serene surroundings.

    Short Hills, a stylish suburb within Millburn in Essex County, boasts a median household income of over $250,000 and was ranked among the most expensive US ZIP codes last year. The speed and size of this sale are a standout even in this affluent community, where Harel notes that "this was an unusual one." Despite its dated interior, the home's hardwood floors, large basement, and private views of the Cora Hartshorn Arboretum and Bird Sanctuary make it an attractive canvas for its new owners.