West Orange NJ Real Estate Trends

Positive Housing Market

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

If you are planning a move either to or from West Orange NJ, then you may be wondering what the current real estate trends are for the area. If that is your current situation, then I encourage you to check out the following information that will give you insight into the most recent West Orange NJ Real Estate trends. Before we dive into the nitty-gritty, let’s first talk about what a “listing price” is vs. a “sold price”. A “listing price” is simply the dollar amount a seller is asking for their home. Contrary to that, a “sold price” is how much a buyer is willing to pay for a home. Taking a look at the following chart, we see the median listing price in West Orange NJ was at a low last February but has been rising since, hitting a peak between April and May of last year and then remaining fairly steady through January 2017. The median sold price, however, stayed relatively steady between March and June of 2016 and then began to rise in July. Prices have been rising since then, hitting a 12-month peak in January of this year.

West Orange NJ Real Estate Trends

West Orange NJ Real Estate Trends – Market Inventory Trends

Looking further into the most recent West Orange NJ Real Estate Trends, we see the number of active listings that were on the market in West Orange NJ and the number of days they’ve been listed. The number of active listings in West Orange NJ dropped 11.8% from the previous month. The median number of days active properties have been listed is 100.

West Orange NJ Housing Inventory Trends

West Orange NJ Real Estate Trends – Learn More!

In conclusion of our look at the most recent West Orange NJ Real Estate Trends, some other statistics to consider are: $414,260 is the median listing price, 100 is the median days on market, and the number of active listings is 245.

Please contact me if I can arrange a showing for you at any of the fantastic properties for sale in West Orange NJ. I can be reached by phone at 973.637.0004 or by email at Shannon@ShannonAronson.com. If you would like more information about West Orange NJ, please 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.