The Good Life Group's Market Report
Glen Ridge, NJ 07028
Single-Family Homes
Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158
Glen Ridge, NJ 07028
Sat Jan 18 2025
This week the median list price for Glen Ridge, NJ 07028 is $329,000 with the market action index hovering around 60. This is less than last month's market action index of 64. Inventory has decreased to 3.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $329,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $0 | |
| Average Days on Market | 28 | |
| Median Days on Market | 28 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 33% | |
| Inventory | 3 | |
| Median Rent | ||
| Market Action | 60 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| $929,000 | 0 | - | 4 | 2.5 | 125 | 0 | 0 | 28 |
| $329,000 | 0 | - | 2 | 2 | 55 | 0 | 0 | 28 |
| $175,000 | 0 | - | 1 | 1 | 65 | 0 | 0 | 28 |