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
Wed May 15 2024
This week the median list price for Glen Ridge, NJ 07028 is $849,000 with the market action index hovering around 69. This is an increase over last month's market action index of 68. Inventory has increased to 6.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $849,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $366 | |
| Average Days on Market | 11 | |
| Median Days on Market | 7 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 6 | |
| Median Rent | ||
| Market Action | 69 | |
| Strong Seller's Market | ||
Despite this week’s down tic, price trends in this zip code have been moving up in the last few weeks. We are below the market’s high point, and we’ll investigate the Market Action Index later on to see if we expect this week’s blip to become a downward trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,399,000 | 3,993 | 0.25 - 0.5 acre | 5 | 4 | 115 | 0 | 1 | 7 |
| $999,000 | 3,364 | 4,500 - 6,500 sqft | 6 | 4 | 104 | 0 | 1 | 21 |
| $849,000 | 2,111 | 6,500 - 8,000 sqft | 4 | 2 | 97 | 0 | 1 | 7 |
| $764,000 | 2,018 | 4,500 - 6,500 sqft | 4 | 2 | 95 | 0 | 0 | 10 |