$7,421 Closing Credit*
$624,900
1,943 SqFt
4 Beds
•1 Full Bath, 2 Partial
Listing Office: COLDWELL BANKER REALTY
Is South Orange, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, South Orange has remained a Seller's Market.
Key Takeaway
South Orange is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Orange, NJ
How much do homes in South Orange, NJ cost?
Median Sold Price
$992,500
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,500(+2.8%)
Key Takeaway
Homes in South Orange have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in South Orange was $992,500 in November 2024, up 2.8% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $237.5K | $221.5K | -6.7% |
| 2 Bedrooms | $410.1K | $587K | +43.1% |
| 3 Bedrooms | $680.5K | $770K | +13.2% |
| 4 Bedrooms | $950K | $950K | 0.0% |
| 5+ Bedrooms | $1.2M | $1.3M | +11.3% |
Summary: South Orange housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 43.1%, 3 bedroom homes increased by 13.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Cities
| City Of Orange Township | $370K | $453.4K | +22.5% |
| Maplewood Township | $810.7K | $969.9K | +19.6% |
| Maplewood | $811.5K | $968.9K | +19.4% |
| South Orange | $965K | $992.5K | +2.8% |
| South Orange Village Township | $965K | $992.5K | +2.8% |
Housing Supply in South Orange, NJ
How many homes are available in South Orange, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 60 | +1.7% |
Summary: The South Orange real estate market had 60 homes for sale in November 2024, a 1.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 8 | 12 | +50.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 30 | 31 | +3.3% |
Summary: The South Orange housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Orange, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in South Orange in November 2024, up by 85.7% month-over-month. Of the 13 sold homes, 8% were sold under asking, 8% were sold at asking, and 85% were sold over asking.
Days on Market for South Orange, NJ
We’re sorry, we don't have information for this market at the moment
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.