It's hard to talk about the Northern Valley Regional School District without mentioning Dimarest. Although the town is small, the price differences between areas are surprisingly distinct.

Areas close to the town center often see single-family homes trading in the range of $1 million to $1.4 million. The distance to schools and the size of the lot are key factors influencing prices.

The southern area adjacent to Closter has a relatively lower price range, typically between $850,000 and $1.1 million. Recently, there has been a gradual upward trend, but in the past few months, the volume of transactions has decreased, leading to a correction phase.

The northern area near Old Tappan has many homes with larger lots, with prices often exceeding $1.3 million. Given the limited supply, price stability appears to be relatively strong.

From an investment perspective, the area near the town center, where recent renovations of the library and community facilities have taken place, is noteworthy. Improvements in convenience could expand the long-term demand base.

The rental yield is not particularly high. When calculating the rent compared to the sale price, it often hovers in the low 2% to low 3% range, suggesting that purchases aimed at living rather than rental income, focusing on school district premiums, seem more natural in this market.

A risk to consider is the low liquidity due to the limited number of listings. In situations requiring quick sales or cash, it may be challenging to sell at the desired time.

For Korean households, if the budget allows, the northern area seems efficient to consider first, while the southern area is preferable for those seeking a relatively reasonable entry price. If prioritizing the school district for long-term residence, Dimarest remains an attractive option.