The Good Life Group's Market Report
West Orange, NJ 07052
Single-Family Homes
Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158
West Orange, NJ 07052
Sat Jan 18 2025
This week the median list price for West Orange, NJ 07052 is $749,000 with the market action index hovering around 47. This is about the same as last month's market action index of 47. Inventory has decreased to 38.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $749,000 | |
| Median Price of New Listings | $769,000 | |
| Per Square Foot | $324 | |
| Average Days on Market | 74 | |
| Median Days on Market | 32 | |
| Price Decreased | 18% | |
| Price Increased | 5% | |
| Relisted | 37% | |
| Inventory | 38 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
We continue to see prices in this zip bounce around these current levels. Look for a persistent change in the Market Action Index before we see prices deviate significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,300,000 | 4,857 | 0.25 - 0.5 acre | 5 | 4.3 | 26 | 1 | 0 | 112 |
| $829,900 | 2,561 | 0.25 - 0.5 acre | 4 | 3 | 75 | 2 | 0 | 28 |
| $627,000 | 2,000 | 6,500 - 8,000 sqft | 4 | 2.3 | 65 | 1 | 1 | 105 |
| $449,950 | 1,552 | 4,500 - 6,500 sqft | 3 | 2 | 94 | 1 | 1 | 28 |