In local market news, we are seeing a normal seasonal slowdown with fewer new buyers coming into the market and fewer new homes coming on the market in South Orange and Maplewood, NJ. Inventory remains low and homes are still selling with multiple bids in many cases even though we are approaching the holiday season.
Here is our latest market reports for October 2021 for Maplewood:
Here is our latest market report for October 2021 for South Orange:
Some key points of interest…The average “days on market” for homes in Maplewood is 22 days and for homes in South Orange 23 days YTD. The YTD average sale price in Maplewood is up over 15% from last year at this time at $765,420. The YTD average sale price in South Orange is up over 16% from this time last year at $818,388. Maplewood homes are selling at an average of 108.67% of list price YTD. South Orange homes are selling at an average of 107.38% above list price YTD. There was just under 1 month of unsold inventory on the market in Maplewood as of the end of October. There was just over one month of unsold inventory on the market in South Orange as of the end of October.
As always, if you have questions about the market, buying or selling please contact me. I’d be happy to consult with you confidentially. You can email me at [email protected] to arrange a time to talk.
The Allison Ziefert Real Estate Group is a top producing real estate team based at Compass in Short Hills, NJ. We are local market experts, specializing in real estate and homes in Maplewood, South Orange, Millburn/Short Hills, Montclair, West Orange, NJ and the surrounding towns. We are driven by earning great testimonials and referral business from happy clients. You can read our testimonials here.