Is West Orange Township, 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 Township has remained a Seller's Market.
Key Takeaway
West Orange Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Orange Township, NJ
How much do homes in West Orange Township, NJ cost?
Median Sold Price
$603,200
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Orange Township have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in West Orange Township was $603,200 in April 2024, up 9.7% 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 | $636.5K | $720K | +13.1% |
| 5+ Bedrooms | $792.5K | $945K | +19.2% |
Summary: West Orange Township 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 13.1%, 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 Township, NJ
How many homes are available in West Orange Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 149 | 180 | +20.8% |
Summary: The West Orange Township real estate market had 180 homes for sale in April 2024, a 20.8% 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 | 33 | 33 | 0.0% |
Summary: The West Orange Township 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
Key Takeaway
If you're buying a home in West Orange Township, you could pay more than the asking price. 81.3% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in West Orange Township 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 Township, NJ
How long does it take to sell a home in West Orange Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 19 Days | +391.7% |
Summary: Homes in West Orange Township 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
Key Takeaway
Many homes in West Orange Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in West Orange Township; 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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.