South Orange NJ Real Estate Trends

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South Orange NJ Real Estate Trends – Listing vs. Sold Prices

If a move to or from South Orange NJ is in your future, it is a good idea to familiarize yourself with the current South Orange NJ real estate trends. Prior to looking at the specifics, it’s beneficial to have an understanding of the difference between a “listing price” and a “sold price”. The dollar amount a seller is asking for their home is called a “listing price”. On the other hand, the dollar amount a buyer is willing to pay for a home is referred to as a “sold price”. As we look at the chart below, we see the median listing price was fairly steady from March through mid-June 2016, then started to decline from July through September. It then raised slightly through December 2016 and hit a 12-month low in mid-January 2017. The median sold price, on the other hand, was at its lowest in March 2016 and has been rising steadily between August and February 2017, when it reached a 12-month peak.

South Orange NJ Real Estate Trends – Market Inventory Trends

As we further explore the South Orange Real Estate Trends, we see the number of active listings that were on the market in South Orange NJ and the number of days they’ve been listed. The number of active listings in South Orange NJ increased .4% from the previous month. The median number of days active properties have been listed is 57.

South Orange NJ Real Estate Trends – Learn More!

As we conclude our look into the most recent South Orange NJ Real Estate Trends, other trends to consider are: $498,330 is the median listing price, 57 is the median days on market, and the number of active listings is 45.

If I can arrange a showing for you at any of the wonderful homes for sale in South Orange NJ, please contact me. You can reach me by phone at 973.637.0004 or by email at Shannon@ShannonAronson.com. Want to learn more about South Orange NJ and other surrounding communities? If so, please be sure to contact me for a FREE copy of our town snapshots. For more great real estate information, including helpful insider tips, please visit my website at www.NJRealEstateDirect.com.