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South Orange Real Estate Analysis & Prediction: We are in for a busy sales year

South Orange 2012 sales analysis, figures and prices.

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.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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