$6,531 Closing Credit*
$550,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COMPASS NEW JERSEY LLC
Is West 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, West Orange Township was a Seller's Market.
Key Takeaway
West Orange Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Orange Township, NJ
How much do homes in West Orange Township, NJ cost?
Median Sold Price
$613,000
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,000(+2.2%)
Key Takeaway
Homes in West Orange Township have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in West Orange Township was $613,000 in October 2024, up 2.2% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.9K | $312.5K | +35.9% |
| 2 Bedrooms | $440K | $480K | +9.1% |
| 3 Bedrooms | $563K | $585K | +3.9% |
| 4 Bedrooms | $681K | $717.5K | +5.4% |
| 5+ Bedrooms | $811K | $994.9K | +22.7% |
Summary: West Orange Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 22.7%.
Median Sold Price Compared To Nearby Cities
| City Of Orange Township | $361.5K | $453.4K | +25.4% |
| Orange | $361.5K | $453.4K | +25.4% |
| South Orange | $953K | $995K | +4.4% |
| West Orange Township | $600K | $613K | +2.2% |
| West Orange | $600K | $612K | +2.0% |
Housing Supply in West Orange Township, NJ
How many homes are available in West Orange Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 159 | 191 | +20.1% |
Summary: The West Orange Township real estate market had 191 homes for sale in October 2024, a 20.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 25 | 29 | +16.0% |
| 3 Bedrooms | 68 | 82 | +20.6% |
| 4 Bedrooms | 44 | 52 | +18.2% |
| 5+ Bedrooms | 19 | 24 | +26.3% |
Summary: The West Orange Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Orange Township, you could pay more than the asking price. 81.5% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in West Orange Township in October 2024, down by 18.2% month-over-month. Of the 27 sold homes, 15% were sold under asking, 4% were sold at asking, and 81% were sold over asking.
Days on Market for West Orange Township, NJ
We’re sorry, we don't have information for this market at the moment
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