Is West Orange, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, West Orange has remained a Seller's Market.
Housing Prices in West Orange, NJ
How much do homes in West Orange, NJ cost?
Median Sold Price
$601,000
$310/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Orange was $601,000 in March 2024, up 9.3% from last year, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212K | $261K | +23.1% |
2 Bedrooms | $425K | $440K | +3.5% |
3 Bedrooms | $525K | $572.5K | +9.0% |
4 Bedrooms | $638K | $722.5K | +13.2% |
5+ Bedrooms | $785K | $937.5K | +19.4% |
Summary: West Orange housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 19.4%.
Median Sold Price Compared To Nearby Cities
South Orange | $878K | $971K | +10.6% |
West Orange Township | $550K | $601.6K | +9.4% |
West Orange | $550K | $601K | +9.3% |
Housing Supply in West Orange, NJ
How many homes are available in West Orange, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
134 | 168 | +25.4% |
Summary: The West Orange real estate market had 168 homes for sale in March 2024, a 25.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 16 | 23 | +43.8% |
3 Bedrooms | 49 | 60 | +22.4% |
4 Bedrooms | 38 | 47 | +23.7% |
5+ Bedrooms | 28 | 37 | +32.1% |
Summary: The West Orange housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 43.8%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 32.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 31 | +55.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in West Orange in March 2024, up by 55.0% month-over-month. Of the 31 sold homes, 16% were sold under asking, 10% were sold at asking, and 74% were sold over asking.
Days on Market for West Orange, NJ
We’re sorry, we don't have information for this market at the moment