The Good Life Group's Market Report

South Orange, NJ 07079

Single-Family Homes

Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158


South Orange, NJ 07079

Sat Jan 18 2025
This week the median list price for South Orange, NJ 07079 is $689,500 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has decreased to 11. 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 Narrative

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

South Orange, NJ 07079

Sat Jan 18 2025
This week the median list price for South Orange, NJ 07079 is $689,500 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has decreased to 11. 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 Narrative

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the South Orange market.
Median List Price $689,500
Median Price of New Listings $689,500
Per Square Foot $321
Average Days on Market 41
Median Days on Market 28
Price Decreased 9%
Price Increased 0%
Relisted 36%
Inventory 11
Median Rent
Market Action 46
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks 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
$1,445,000 0 0.5 - 1 acre 6 3.8 118 0 0 42
$899,000 3,134 0.25 - 0.5 acre 4 3.5 85 1 0 28
$689,500 1,943 0 - 4,500 sqft 5 2 117 2 0 0
$599,000 1,701 0 - 4,500 sqft 4 1.5 105 0 1 91