Home Prices in South Orange, NJ
Home sold prices in the South Orange, New Jersey area are continuing to experience a steady rise over the past 5 months. With less homes on the market and more homes selling over their listing price, buyers still shouldn't miss the opportunity now to purchase a home before prices and interest rates increase thorughout 2014. To get the most out of your purchase, hire a knowledgeable and experienced real estate agent, familiar with this market area, who knows how to negotiate the best deal for you and beat out the competition. Their guidance will lead you to a smart, financially safe home purchase. With homes being sold in less than two weeks, competition for the best properties will be steep. Begin your search with an agent experienced with home sales in South Orange, who can help you find the best-priced, most high quality homes, the instant that they hit the market.
Sellers face their own challenge in this market. If they want to compete for bids, they must list their home slightly below the current market value. This may result in an asking price below what they wish to list. While the sale prices are rising, it is at a very slow and steady rate. The average listing time for a home in the area is only 76 days, much lower than the national average. So, homes are continuing to go, quickly. Both buyers and sellers can expect the market to continue to experience a slight increase in sell prices, but at with dramatic changes. Keep an eye on current inventory and home prices in South Orange to keep track of any changes in the market.
South Orange, New Jersey Real Estate Report Summary
The number of active listings in South Orange, NJ dropped by 10.8% from the previous month.
The median number of days active properties have been listed in South Orange, NJ is 76. This figure is drastically less than the national average.
The percent of properties owned in South Orange, NJ is 65.3%.
The percent of rental properties in South Orange, NJ is 12.56% higher than the national average.
The percent of unoccupied properties in South Orange, NJ is 11.79% less than the national average.
Visit Maplewood Real Estate Website or feel free to contact me at 973-885-7745 for more information on South Orange NJ home prices.
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