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
Mon Apr 21 2025
This week the median list price for South Orange, NJ 07079 is $824,500 with the market action index hovering around 65. This is an increase over last month's market action index of 57. Inventory has decreased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $824,500 | |
| Median Price of New Listings | $699,000 | |
| Per Square Foot | $433 | |
| Average Days on Market | 54 | |
| Median Days on Market | 14 | |
| Price Decreased | 21% | |
| Price Increased | 0% | |
| Relisted | 14% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 65 | |
| Strong Seller's Market | ||
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,250,000 | 0 | 0.25 - 0.5 acre | 4 | 4 | 96 | 0 | 0 | 28 |
| $1,150,000 | 0 | 4,500 - 6,500 sqft | 4 | 3 | 101 | 0 | 1 | 14 |
| $790,000 | 1,666 | 4,500 - 6,500 sqft | 4 | 2.3 | 105 | 2 | 2 | 7 |
| $599,900 | 1,578 | 0 - 4,500 sqft | 3 | 1.8 | 111 | 1 | 1 | 63 |