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Analysis of Maplewood & South Orange Home Statistics for August 2011

by: Sue Adler
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Whether you are buying or selling real estate in New Jersey, you can benefit from having an understanding of the local market.  The average listed sales price of a Maplewood New Jersey home for the month of August, 2011 was $327,400, with a median sales price of $517,500 for sold Maplewood homes.  Housing inventory has decreased in Maplewood when compared with  August of 2010, with 144 active listings being reported for the last day of August for Maplewood versus 161 in August of 2010.

The average listed sales price of a South Orange, New Jersey home for the month of August, 2011 was $422,000, with a median sales price of $397,000 for sold South Orange homes.  Housing inventory has decreased in South Orange when compared with August of 2010, with 110 active listings being reported for the last day of August for South Orange versus 134 in August of 2010. The big complaint of most buyers right now is the lack of inventory in these towns which are in such high demand, with their easy commute into Manhattan.

The number of closed listings for both areas combined in August was 52. The average number of days a home was on the market was 67 days in Maplewood and 112 in South Orange. If you would like to learn more these statistics, please click here for Maplewood and click here for South Orange. These statistics only include the current listing information gathered from GSMLS, so this report does not represent a full history of the property listings.  If you need information about the history of a specific listing, please call us at 973.552.2419.

 

 

 

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