Is South Orange Village Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Orange Village Township was a Seller's Market.
Housing Prices in South Orange Village Township, NJ
How much do homes in South Orange Village Township, NJ cost?
Median Sold Price
$995,000
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Orange Village Township was $995,000 in May 2024, up 16.5% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $187K | $237.5K | +27.0% |
2 Bedrooms | $452.1K | $430K | -4.9% |
3 Bedrooms | $637.2K | $730K | +14.6% |
4 Bedrooms | $894K | $967.5K | +8.2% |
5+ Bedrooms | $1.0M | $1.2M | +10.7% |
Summary: South Orange Village Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
South Orange Village Township | $853.7K | $995K | +16.5% |
South Orange | $853.7K | $995K | +16.5% |
Maplewood Township | $809K | $875K | +8.2% |
Maplewood | $809K | $875K | +8.2% |
Housing Supply in South Orange Village Township, NJ
How many homes are available in South Orange Village Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 82 | +32.3% |
Summary: The South Orange Village Township real estate market had 82 homes for sale in May 2024, a 32.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 9 | 12 | +33.3% |
4 Bedrooms | 24 | 30 | +25.0% |
5+ Bedrooms | 24 | 34 | +41.7% |
Summary: The South Orange Village Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in South Orange Village Township in May 2024, up by 30.0% month-over-month. Of the 13 sold homes, 0% were sold under asking, 8% were sold at asking, and 92% were sold over asking.
Days on Market for South Orange Village Township, NJ
We’re sorry, we don't have information for this market at the moment