$10,000 Closing Credit*
$1,100,000
5 Beds
•2 Full Baths, 2 Partial
Listing Office: COLDWELL BANKER REALTY
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 October 2023
At the same time last year, South Orange Village Township was a Seller's Market.
Key Takeaway
South Orange Village Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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 October 2023
+$42,000(+4.4%)
Key Takeaway
Homes in South Orange Village Township have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in South Orange Village Township 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 Village Township 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 Village Township | $953K | $995K | +4.4% |
| South Orange | $953K | $995K | +4.4% |
Housing Supply in South Orange Village Township, NJ
How many homes are available in South Orange Village Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The South Orange Village Township 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 Village Township 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 Village Township, 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 Village Township 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 Village Township, NJ
We’re sorry, we don't have information for this market at the moment
