Lina Panza's Market Report

West Orange, NJ 07052

Condos/Townhomes

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



West Orange, NJ 07052

Sun Mar 03 2024
This week the median list price for West Orange, NJ 07052 is $587,000 with the market action index hovering around 63. This is an increase over last month's market action index of 62. Inventory has decreased to 6. Click here to stay informed with the West Orange market!

Market Action Index

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

Strong Seller's Market

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

West Orange, NJ 07052

Sun Mar 03 2024
This week the median list price for West Orange, NJ 07052 is $587,000 with the market action index hovering around 63. This is an increase over last month's market action index of 62. Inventory has decreased to 6. Click here to stay informed with the West Orange market!

Market Action Index

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

Strong Seller's Market

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the West Orange market.
Median List Price $587,000
Median Price of New Listings $475,000
Per Square Foot $237
Average Days on Market 22
Median Days on Market 32
Price Decreased 0%
Price Increased 0%
Relisted 17%
Inventory 6
Median Rent
Market Action 63
Strong Seller's Market

The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.

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
$890,000 2,340 0 - 4,500 sqft 3 2.5 15 0 0 35
$825,000 3,237 - 3 3.5 15 0 2 28
$587,000 2,000 - 2 3.3 33 1 1 0
$387,850 1,832 0 - 4,500 sqft 2 2.3 36 0 2 35