Allison Ziefert's Market Reports

South Orange, NJ 07079

Single-Family Homes

Allison Ziefert Real Estate Group | allison@azhomesnj.com | 973.310.6816


South Orange, NJ 07079

Tue Jul 05 2022
This week the median list price for South Orange, NJ 07079 is $799,000 with the market action index hovering around 75. This is less than last month's market action index of 85. Inventory has increased to 21. 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 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.

South Orange, NJ 07079

Tue Jul 05 2022
This week the median list price for South Orange, NJ 07079 is $799,000 with the market action index hovering around 75. This is less than last month's market action index of 85. Inventory has increased to 21. 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 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

Never miss important changes in the South Orange market.
Median List Price $799,000
Median Price of New Listings $849,000
Per Square Foot $333
Average Days on Market 18
Median Days on Market 7
Price Decreased 10%
Price Increased 0%
Relisted 19%
Inventory 21
Median Rent
Market Action 75
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
$1,275,000 3,484 0.25 - 0.5 acre 6 4 92 1 0 7
$849,000 2,504 0.25 - 0.5 acre 4 3.5 91 2 0 0
$675,000 2,457 8,000 - 10,000 sqft 4 2.5 98 2 0 7
$477,450 1,397 4,500 - 6,500 sqft 3 1.8 102 0 0 35