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

Thu Apr 25 2024
This week the median list price for South Orange, NJ 07079 is $832,000 with the market action index hovering around 66. This is less than last month's market action index of 71. Inventory has increased to 22. 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

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.

South Orange, NJ 07079

Thu Apr 25 2024
This week the median list price for South Orange, NJ 07079 is $832,000 with the market action index hovering around 66. This is less than last month's market action index of 71. Inventory has increased to 22. 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

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 South Orange market.
Median List Price $832,000
Median Price of New Listings $1,062,500
Per Square Foot $443
Average Days on Market 14
Median Days on Market 7
Price Decreased 23%
Price Increased 0%
Relisted 14%
Inventory 22
Median Rent
Market Action 66
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
$1,175,000 3,263 0.25 - 0.5 acre 5 4 74 5 4 0
$950,000 2,653 0.25 - 0.5 acre 4 3 100 2 1 7
$799,500 1,617 4,500 - 6,500 sqft 4 2.8 89 2 0 14
$687,000 1,501 4,500 - 6,500 sqft 3 1.8 96 1 0 14