$2,850 Closing Credit*
$240,000
660 SqFt
1 Bed
•1 Full Bath
Jameelah M Salahuddin, Listing Office: RE/MAX First Realty II
Is City Of Orange Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, City Of Orange Township was a Seller's Market.
Key Takeaway
City Of Orange Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in City Of Orange Township, NJ
How much do homes in City Of Orange Township, NJ cost?
Median Sold Price
$453,400
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$91,874(+25.4%)
Key Takeaway
Homes in City Of Orange Township have sold for 25.4% more than they did a year ago.
Summary: The median home sold price in City Of Orange Township was $453,400 in October 2024, up 25.4% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $231K | N/A |
| 2 Bedrooms | $275K | $305K | +10.9% |
| 3 Bedrooms | $325K | $422.5K | +30.0% |
| 4 Bedrooms | $470K | $467.5K | -0.5% |
| 5+ Bedrooms | $540K | $566.5K | +4.9% |
Summary: City Of Orange Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| City Of Orange Township | $361.5K | $453.4K | +25.4% |
| Orange | $361.5K | $453.4K | +25.4% |
| East Orange | $380K | $425K | +11.8% |
| West Orange Township | $600K | $613K | +2.2% |
| West Orange | $600K | $612K | +2.0% |
Housing Supply in City Of Orange Township, NJ
How many homes are available in City Of Orange Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 | 102 | +30.8% |
Summary: The City Of Orange Township real estate market had 102 homes for sale in October 2024, a 30.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 11 | 19 | +72.7% |
| 5+ Bedrooms | 36 | 46 | +27.8% |
Summary: The City Of Orange Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 72.7%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in City Of Orange Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in City Of Orange Township in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for City Of Orange Township, NJ
How long does it take to sell a home in City Of Orange Township, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 109 Days | 70 Days | -35.8% |
Summary: Homes in City Of Orange Township had an average of 70 days on market in Oct 2024, down by 35.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in City Of Orange Township has remained consistent over time.
Summary: During October 2024, 6 homes were sold in City Of Orange Township; 0% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.