South Orange Real Estate Analysis & Prediction: We are in for a busy sales year
Low inventory and high demand continues to push South Orange into a strong position for the year. With only two weeks into the New Year, potential home buyers are already out in force looking for homes to purchase; not waiting for the Spring market.
Already 178 were purchased in 2012 and 33 homes are now under contract. The key is that there are only 78 South Orange homes on the market for sale today and many real estate agents can attest to multiple offers lately. This, combined with the relative mild winter here, makes this a great time for a homeowner to put her well-priced home on the market today before the crowds of homes come out in the Spring.
Listen to the 30-second and 60-second videos for more.
2012 Residential Sales Snapshot
|
List Price |
Sales Price |
%SP/LP |
DOM |
|
|
Min |
$90,000 |
$105,000 |
63.5 |
0 |
|
Max |
$1,299,000 |
$1,300,000 |
116.7 |
448 |
|
Average |
$524,300 |
$505,500 |
96.1 |
75 |
|
Median |
$499,000 |
$492,250 |
97.2 |
52.0 |
Homeowners and home buyers are also seeing some advantages to proceeding with a short sale deal and not automatically running away from them now. We had a short sale receive bank approval within 30 days, just two days before Christmas and another getting a response right after; demonstrating the banks didn't slow down during the holiday season. This shows the old assumption that short sales never work aren't true.
Address List of South Orange Homes Sold In 2012*
|
Address |
Sold Price |
List Price |
DOM |
|
65 Crest Dr |
$1,300,000 |
$1,250,000 |
23 |
|
66 Crest Dr |
$1,250,000 |
$1,299,000 |
15 |
|
303 Montrose Ave |
$1,250,000 |
$1,295,000 |
101 |
|
137 Ralston Ave |
$1,025,000 |
$1,150,000 |
109 |
|
138 Irving Ave |
$1,000,000 |
$1,050,000 |
45 |
|
155 Glenview Rd |
$970,000 |
$999,000 |
29 |
|
539 Laurel Place |
$955,208 |
$979,000 |
44 |
|
381 Forest Rd |
$950,000 |
$995,000 |
184 |
|
365 Redmond Rd |
$930,000 |
$969,000 |
72 |
|
296 Melrose Pl |
$860,000 |
$859,000 |
33 |
|
233 Harding Dr |
$840,000 |
$895,000 |
57 |
|
220 Turrell Ave |
$840,000 |
$889,900 |
96 |
|
373 W End Rd |
$821,100 |
$785,000 |
15 |
|
45 Harding Dr |
$795,000 |
$839,000 |
90 |
|
42 Tillou Rd West |
$787,000 |
$790,000 |
138 |
|
18 Tillou Rd W |
$770,000 |
$795,000 |
134 |
|
320 N Ridgewood Rd |
$762,000 |
$775,000 |
18 |
|
316 S Western Dr |
$759,000 |
$759,000 |
23 |
|
472 Underhill Rd |
$750,000 |
$799,000 |
171 |
|
76 Duffield Dr |
$750,000 |
$765,000 |
34 |
|
37 Tillou Rd W |
$750,000 |
$765,000 |
64 |
|
355 Scotland Rd |
$727,000 |
$749,000 |
22 |
|
178 Great Hills Dr |
$725,000 |
$765,000 |
43 |
|
325 Redmond Rd |
$725,000 |
$725,000 |
126 |
|
223 Crestwood Dr |
$720,000 |
$749,000 |
122 |
|
220 North Woods Dr |
$706,000 |
$729,000 |
20 |
|
286 Charlton Ave |
$705,000 |
$724,900 |
151 |
|
224 Prospect St |
$695,000 |
$699,000 |
17 |
|
190 Village Rd |
$685,000 |
$689,000 |
11 |
|
163 Irving Ave |
$680,000 |
$699,900 |
94 |
|
270 Vose Ave |
$677,500 |
$699,000 |
63 |
|
267 Highland Rd |
$675,000 |
$710,000 |
49 |
|
491 Mayhew Ct |
$670,000 |
$719,000 |
138 |
|
317 N Ridgewood Rd |
$670,000 |
$699,000 |
51 |
|
7 Hoskier Rd |
$660,000 |
$695,000 |
108 |
|
416 N Ridgewood Rd |
$656,195 |
$675,000 |
19 |
|
311 Hartford Rd |
$651,000 |
$675,000 |
299 |
|
211 N Wyoming Ave |
$650,000 |
$699,999 |
105 |
|
551 Grove Ter |
$650,000 |
$699,000 |
197 |
|
334 Warwick Ave |
$650,000 |
$649,900 |
44 |
|
232 Thornden St |
$650,000 |
$629,000 |
13 |
|
227 Garfield Pl |
$647,000 |
$665,000 |
43 |
|
378 Warwick Ave |
$639,000 |
$639,000 |
15 |
|
368 Melrose Pl |
$635,000 |
$649,000 |
8 |
|
229 S Ridgewood Rd |
$632,500 |
$649,000 |
26 |
|
37 Speir Dr |
$630,000 |
$650,000 |
55 |
|
440 Harding Dr |
$627,500 |
$650,000 |
118 |
|
44 Jessica Way |
$627,500 |
$649,900 |
194 |
|
204 Crestwood Dr |
$625,000 |
$699,000 |
161 |
|
370 N Wyoming Ave |
$625,000 |
$650,000 |
167 |
|
290 Vose Ave |
$625,000 |
$635,000 |
35 |
|
306 Lenox Ave |
$620,000 |
$650,000 |
13 |
|
50 Duffield Dr |
$612,000 |
$635,000 |
82 |
|
15 Glenside Rd |
$608,200 |
$635,000 |
64 |
|
73 S Wyoming Ave |
$605,000 |
$629,000 |
56 |
|
361 Lenox Ave |
$605,000 |
$605,000 |
49 |
|
343 Richmond Ave |
$599,000 |
$599,000 |
18 |
|
295 Turrell Ave |
$595,000 |
$629,000 |
64 |
|
327 Tichenor Ave |
$592,500 |
$599,000 |
22 |
|
460 Harding Dr |
$590,000 |
$599,000 |
93 |
|
121 Raymond Ave |
$590,000 |
$599,000 |
15 |
|
216 Thornden St |
$585,000 |
$585,000 |
43 |
|
23 N Hart Dr |
$580,000 |
$549,900 |
54 |
|
32 Glenside Rd |
$579,000 |
$579,000 |
28 |
|
109 Irving Ave |
$573,000 |
$575,000 |
10 |
|
345 Ravine Dr |
$560,000 |
$799,000 |
146 |
|
224 Thornden St |
$550,000 |
$550,000 |
14 |
|
201 Coudert Pl |
$539,000 |
$539,000 |
0 |
|
228 Audley St |
$536,000 |
$550,000 |
6 |
|
228 S. Ridgewood Rd |
$535,000 |
$529,000 |
10 |
|
47 Wyoming Ave N |
$533,000 |
$569,900 |
82 |
|
331 Tichenor Ave |
$530,000 |
$549,000 |
138 |
|
170 Mayhew Dr |
$530,000 |
$539,000 |
16 |
|
143 Brentwood Dr |
$530,000 |
$535,000 |
21 |
|
215 Thornden St |
$529,000 |
$529,000 |
21 |
|
38 Elm Ct |
$526,600 |
$499,000 |
11 |
|
319 Self Pl |
$525,000 |
$539,000 |
30 |
|
275 Richmond Ave |
$525,000 |
$539,000 |
31 |
|
373 Thornden St |
$525,000 |
$535,000 |
42 |
|
240 S Ridgewood Rd |
$524,000 |
$529,000 |
49 |
|
169 Ralston Ave 155 Charlton |
$510,570 |
$549,000 |
403 |
|
30 S Kingman Rd |
$510,000 |
$549,900 |
65 |
|
74 Whiteoak Dr |
$505,100 |
$505,000 |
95 |
|
177 Grove Rd |
$505,014 |
$479,000 |
14 |
|
209 Garfield Pl |
$500,000 |
$515,000 |
52 |
|
387 Hall Ct |
$500,000 |
$499,000 |
14 |
|
228 W. South Orange Ave |
$500,000 |
$489,000 |
13 |
|
20 Glenside Rd |
$494,000 |
$525,000 |
42 |
|
234 S Ridgewood Rd |
$492,500 |
$499,000 |
90 |
|
231 S Ridgewood Rd |
$492,000 |
$515,000 |
79 |
|
11 Warren Ct |
$485,000 |
$499,999 |
109 |
|
361 Walton Ave |
$481,000 |
$495,000 |
36 |
|
12 Lenox Ter |
$477,500 |
$499,000 |
95 |
|
86 Jessica Way |
$465,000 |
$475,000 |
238 |
|
399 Stirling Ave |
$460,000 |
$450,000 |
64 |
|
219 Audley St |
$455,000 |
$455,000 |
8 |
|
60 N Wyoming Ave |
$455,000 |
$450,000 |
149 |
|
20 Allen Ct |
$455,000 |
$450,000 |
14 |
|
174 Kilburn Place |
$452,500 |
$448,900 |
37 |
|
11 University Ct |
$452,000 |
$459,000 |
16 |
|
24 Speir Dr |
$451,000 |
$499,999 |
89 |
|
352 Tichenor Ave |
$450,000 |
$439,000 |
54 |
|
270 Lenox Ave |
$445,000 |
$479,000 |
136 |
|
60 Fairview Ave |
$445,000 |
$459,000 |
52 |
|
170 Village Rd |
$444,000 |
$469,000 |
38 |
|
220 Turrell Ave |
$440,000 |
$575,000 |
101 |
|
256 Prospect St |
$437,500 |
$449,000 |
21 |
|
359 Turrell Ave |
$436,500 |
$450,000 |
19 |
|
321 Wyoming Ave C1D |
$434,000 |
$429,000 |
18 |
|
65 W Montrose Ave |
$430,000 |
$449,000 |
90 |
|
453 Melrose Pl |
$425,000 |
$439,000 |
259 |
|
26 Fielding Ct |
$425,000 |
$425,000 |
5 |
|
53 Fielding Ct |
$425,000 |
$420,000 |
61 |
|
35 Fairview Ave |
$420,000 |
$429,500 |
203 |
|
225 Harding Dr |
$420,000 |
$419,000 |
66 |
|
117 Second St |
$415,000 |
$449,000 |
135 |
|
59 Meadowbrook Pl |
$415,000 |
$419,000 |
17 |
|
463 Tillou Rd |
$415,000 |
$415,000 |
22 |
|
316 Academy St |
$410,000 |
$425,000 |
42 |
|
321 Wyoming Ave C4D |
$407,500 |
$429,000 |
6 |
|
269 Audley St |
$400,000 |
$415,000 |
23 |
|
144 Ward Pl |
$400,000 |
$399,000 |
17 |
|
12 Village Green Ct |
$389,000 |
$379,000 |
55 |
|
124 Reynolds Pl |
$385,000 |
$399,000 |
55 |
|
34 Riggs Pl |
$376,000 |
$375,000 |
14 |
|
82 Blanchard Rd |
$375,000 |
$375,000 |
80 |
|
17 Elm Court |
$370,000 |
$385,000 |
40 |
|
357 Clark St |
$370,000 |
$379,000 |
102 |
|
169 Scotland Rd |
$365,000 |
$389,000 |
137 |
|
506 Finlay Pl |
$362,500 |
$370,000 |
93 |
|
52 S Ridgewood Rd |
$360,000 |
$399,000 |
58 |
|
201 Montague Pl |
$360,000 |
$359,000 |
23 |
|
111 Seton Pl |
$351,000 |
$329,900 |
18 |
|
356 Meeker St |
$350,000 |
$359,900 |
47 |
|
367 Turrell Ave |
$349,000 |
$349,000 |
14 |
|
319 Lenox Ave |
$347,500 |
$399,000 |
8 |
|
368 Melrose Pl |
$342,000 |
$349,000 |
7 |
|
341 Academy St |
$339,900 |
$339,900 |
25 |
|
359 Prospect St |
$337,000 |
$328,100 |
66 |
|
28 Kingman Rd |
$335,000 |
$399,000 |
191 |
|
570 Varsity Rd |
$335,000 |
$339,000 |
16 |
|
292 Walton Ave |
$325,000 |
$375,000 |
76 |
|
216 Village Rd |
$325,000 |
$369,900 |
112 |
|
475 Lenox Ave |
$325,000 |
$311,900 |
14 |
|
110 2Nd St |
$320,000 |
$369,000 |
57 |
|
201 Montague Pl |
$315,850 |
$319,000 |
318 |
|
46 Park Pl |
$305,000 |
$329,000 |
84 |
|
39 Mews Ln |
$303,000 |
$349,000 |
25 |
|
71 Mews Ln |
$299,000 |
$324,500 |
175 |
|
67 Mews Ln |
$299,000 |
$299,000 |
43 |
|
63 Stewart Pl |
$296,000 |
$289,000 |
268 |
|
31-41 Church St Unit 306 |
$295,000 |
$309,000 |
115 |
|
46 S Ridgewood Rd |
$284,000 |
$299,000 |
69 |
|
134 Roland Ave |
$279,000 |
$278,000 |
23 |
|
360 Turrell Ave |
$274,000 |
$274,000 |
47 |
|
301 S Orange Ave |
$265,000 |
$300,000 |
160 |
|
231 Walton Ave |
$257,350 |
$274,500 |
23 |
|
705 Cameron Rd |
$255,000 |
$248,000 |
33 |
|
14 Second St |
$250,000 |
$250,000 |
294 |
|
2 Eder Ter |
$248,000 |
$249,900 |
165 |
|
345 Irving Ave |
$235,000 |
$369,900 |
29 |
|
609 S Orange Ave |
$235,000 |
$249,000 |
17 |
|
171 Academy St |
$227,000 |
$249,900 |
100 |
|
316 Valley St |
$218,000 |
$239,900 |
63 |
|
220 West South Orange Ave |
$211,000 |
$299,000 |
58 |
|
33 Riggs Pl |
$210,000 |
$230,000 |
157 |
|
609 W South Orange Ave. 2A |
$204,000 |
$229,000 |
122 |
|
108 Seton Pl |
$204,000 |
$225,000 |
36 |
|
224 Waverly Pl |
$203,500 |
$229,900 |
168 |
|
144 Ward Pl |
$175,000 |
$210,000 |
119 |
|
160 Holland Rd |
$172,000 |
$175,000 |
0 |
|
603 Hamilton Rd |
$151,000 |
$174,900 |
17 |
|
351 Valley St |
$150,000 |
$199,900 |
61 |
|
18 Prospect St,2C |
$150,000 |
$175,000 |
75 |
|
609 S Orange Ave |
$150,000 |
$165,000 |
98 |
|
174 Church St |
$122,500 |
$126,000 |
448 |
|
52 Church St |
$112,500 |
$164,900 |
216 |
|
50 Church St |
$105,000 |
$90,000 |
22 |
*These are homes sold via the Garden State Multiple Listing Service and do not include all private sales.
