Lina Panza's Market Report

South Orange, NJ 07079

Single-Family Homes

Keller Williams NJ Metro | www.WalkableSuburb.com | 973-809-5277



South Orange, NJ 07079

Sun Mar 03 2024
This week the median list price for South Orange, NJ 07079 is $687,500 with the market action index hovering around 65. This is less than last month's market action index of 73. Inventory has increased to 8. Click here to stay informed with the South Orange market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

South Orange, NJ 07079

Sun Mar 03 2024
This week the median list price for South Orange, NJ 07079 is $687,500 with the market action index hovering around 65. This is less than last month's market action index of 73. Inventory has increased to 8. Click here to stay informed with the South Orange market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the South Orange market.
Median List Price $687,500
Median Price of New Listings $0
Per Square Foot $393
Average Days on Market 22
Median Days on Market 14
Price Decreased 0%
Price Increased 0%
Relisted 38%
Inventory 8
Median Rent
Market Action 65
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

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
$974,500 2,397 8,000 - 10,000 sqft 5 3.8 110 0 1 14
$769,500 1,715 8,000 - 10,000 sqft 2 1.8 105 0 0 45
$650,000 1,843 4,500 - 6,500 sqft 5 2 59 0 0 10
$464,444 3,314 0 - 4,500 sqft 3 1.8 96 0 0 17