In many peoples minds 2008 has been a very hard year for South Orange NJ Real Estate, but what has really been going on compaired to 2007? This is a look at single family detached homes sold in South Orange New Jersey
South Orange NJ Real Estate Sales Comparison Numbers
South Orange NJ Homes Sold 07 — 172
South Orange NJ Homes Sold 08 — 138
Decrees of –19.8%
South Orange NJ Real Estate Average List Price 07 –$656,249
South Orange NJ Real Estate Average List Price 08 — $611,320
Decrees of –6.9%
South Orange NJ Real Estate Average Sold Price 07 –$640,600
South Orange NJ Real Estate Average Sold Price 08 –$594,327
Decrees of –7.2%
South Orange NJ Real Estate Median List Price 07 –$559,000
South Orange NJ Real Estate Median List Price 08–$575,000
Increase of — 2.8%
South Orange NJ Real Estate Median Sold Price 07 –$550,000
South Orange NJ Real Estate Median Sold Price 08 –$555,000
Increase of — 0.9%
South Orange NJ Sold Homes Average Days To Sell 07 –64.9
South Orange NJ Sold Homes Average Days To Sell 08 –62.8
As you can see the market for single family homes in South Orange New Jersey is still doing ok. The number of homes sold is off quite a bit but the average price decline is not too bad.
If you would like to read about how the Maplewood NJ Condo market has been doing, visit the nj-realestate-agent blog.
Thinking of real estate as an investment, consider purchasing foreclosure real estate
To find all the homes currently for sale in Northern New Jersey, stop by my New Jersey MLS feed.
For more local information check out the latest news out of the Maplewood NJ Real Estate market
1 response so far ↓
1 Patricia@Nampa ID Real Estate (1 comments.) // Nov 30, 2008 at 6:46 pm
Looking at the numbers compared to your last years numbers makes things look alot better than I’m sure they feel. If you can continue to weather this storm and maintain value, things will be ok. I think that people in other places that have their home drop in value so much that they owe more than the home is worth are the ones who need to be concerned. Hope things pick up for you.
Leave a Comment