Is West Orange, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$602,500
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Orange was $602,500 in April 2024, up 9.5% from last year, and the median price per square foot was $302.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212K | $281K | +32.5% |
2 Bedrooms | $420K | $445K | +6.0% |
3 Bedrooms | $525K | $575K | +9.5% |
4 Bedrooms | $635K | $720K | +13.4% |
5+ Bedrooms | $792.5K | $945K | +19.2% |
Summary: West Orange housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.5%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Cities
South Orange | $855K | $997K | +16.6% |
West Orange Township | $550K | $603.2K | +9.7% |
West Orange | $550K | $602.5K | +9.5% |
Housing Supply in West Orange, NJ
How many homes are available in West Orange, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
148 | 179 | +20.9% |
Summary: The West Orange real estate market had 179 homes for sale in April 2024, a 20.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 5 | +400.0% |
2 Bedrooms | 22 | 26 | +18.2% |
3 Bedrooms | 55 | 72 | +30.9% |
4 Bedrooms | 38 | 44 | +15.8% |
5+ Bedrooms | 32 | 32 | 0.0% |
Summary: The West Orange housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 400%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 32 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in West Orange in April 2024, the same as the previous month. Of the 32 sold homes, 3% were sold under asking, 16% were sold at asking, and 81% were sold over asking.
Days on Market for West Orange, NJ
How long does it take to sell a home in West Orange, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
4 Days | 19 Days | +391.7% |
Summary: Homes in West Orange had an average of 19 days on market in Apr 2024, up by 391.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 32 homes were sold in West Orange; 6% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.