$10,000 Closing Credit*
$920,000
6 Beds
•4 Full Baths
Listing Office: ADDISON REAL ESTATE
Is West Orange, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, West Orange has remained a Seller's Market.
Key Takeaway
West Orange is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Orange, NJ
How much do homes in West Orange, NJ cost?
Median Sold Price
$625,000
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$25,000(+4.2%)
Key Takeaway
Homes in West Orange have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in West Orange was $625,000 in December 2024, up 4.2% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $292.5K | +24.5% |
| 2 Bedrooms | $440K | $485K | +10.2% |
| 3 Bedrooms | $565K | $602K | +6.5% |
| 4 Bedrooms | $691K | $746K | +8.0% |
| 5+ Bedrooms | $885.5K | $999.9K | +12.9% |
Summary: West Orange housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.5%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| City Of Orange Township | $386.5K | $451.8K | +16.9% |
| Orange | $386.5K | $451.8K | +16.9% |
| West Orange Township | $600K | $626.3K | +4.4% |
| West Orange | $600K | $625K | +4.2% |
| South Orange | $976K | $990K | +1.4% |
Housing Supply in West Orange, NJ
How many homes are available in West Orange, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 170 | 149 | -12.4% |
Summary: The West Orange real estate market had 149 homes for sale in December 2024, a 12.4% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 29 | 23 | -20.7% |
| 3 Bedrooms | 67 | 52 | -22.4% |
| 4 Bedrooms | 45 | 46 | +2.2% |
| 5+ Bedrooms | 26 | 27 | +3.8% |
Summary: The West Orange housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 20.7%, 3 bedroom homes decreased by 22.4%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 3.8%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 38 | 37 | -2.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Orange, you could pay more than the asking price. 73% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in West Orange in December 2024, down by 2.6% month-over-month. Of the 37 sold homes, 22% were sold under asking, 5% were sold at asking, and 73% were sold over asking.
Days on Market for West Orange, NJ
We’re sorry, we don't have information for this market at the moment
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