$6,876 Closing Credit*
$579,000
1,134 SqFt
3 Beds
•1 Full Bath, 1 Partial
Kyle T Marcell, Listing Office: RE/MAX Revolution
Is South Orange, 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, South Orange was a Seller's Market.
Key Takeaway
South Orange is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Orange, NJ
How much do homes in South Orange, NJ cost?
Median Sold Price
$995,000
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,000(+4.4%)
Key Takeaway
Homes in South Orange have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in South Orange was $995,000 in October 2024, up 4.4% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $221.5K | -1.6% |
| 2 Bedrooms | $370K | $587K | +58.6% |
| 3 Bedrooms | $595K | $770K | +29.4% |
| 4 Bedrooms | $912.5K | $950K | +4.1% |
| 5+ Bedrooms | $1.1M | $1.3M | +11.9% |
Summary: South Orange housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 58.6%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 11.9%.
Median Sold Price Compared To Nearby Cities
| City Of Orange Township | $361.5K | $453.4K | +25.4% |
| Maplewood Township | $813.2K | $950K | +16.8% |
| Maplewood | $815K | $945K | +16.0% |
| South Orange | $953K | $995K | +4.4% |
| South Orange Village Township | $953K | $995K | +4.4% |
Housing Supply in South Orange, NJ
How many homes are available in South Orange, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The South Orange real estate market had 62 homes for sale in October 2024, a 10.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 30 | 31 | +3.3% |
Summary: The South Orange housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Orange, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in South Orange in October 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% 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.