“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

October Real Estate Market Activity in West Orange and Maplewood, NJ and More

During the month of October, there has been an average of 44 residential homes in total that have gone under contract in eight northern New Jersey towns week-to-week. These towns include Livingston, Maplewood, Millburn/Short Hills, Montclair, Nutley, South Orange, Verona and West Orange.

Maplewood and West Orange, New Jersey lead the pack with 10 residential homes that went under contract during the week of October 11-17. Montclair was right behind them with nine homes, but Millburn/Short Hills and Verona trailed far behind with only one.

During October 18-24 Livingston pushes through the crowd with 13 residential homes going under contract. This week Verona still trails but Millburn/Short Hills picked up, moving from one single-family home under contract last week to six this week.

West Orange ends the month of October 25-31 the way it began, with a bang. This town topped the charts with 11 homes under contract this week alone, beating the other seven area towns: Livingston, Maplewood, Millburn/Short Hills, Montclair, Nutley, South Orange and Verona. Montclair tried to give it a run for its money with nine single-family homes under contract. And Verona, well, this month has Verona trailing behind week after week, never going above three homes under contract in a given week.

These lists only shows when a real estate agent has listed a home as under contract in the Garden State Multiple Listing Service (GSMLS). The homeowner is on track for the house to be sold in the near future. However, there are things that can go awry that causes the house to not be sold. These weekly lists show the current activity in the market and what price point is moving within each town.

View all the homes that have gone under contract in any given week.

Why is all of this important and matter? Because seeing how many homes have gone under contract and in what price range gives you insight into what is happening in the market and how the market is moving. This shows a more accurate trend than what has sold this month. If it sold in October the owner probably received an offer in August or September. The houses that have just gone under contract don't state what price was accepted but does show what price caused a buyer to put in an offer. If your agent knows the market like we do, he or she can give you more information on how much interest a house has received and give a guage on the type of offer that may have been given. All of this tells you more about the pulse of the market today, not just what happened two months ago. We believe an educated consumer is our best client and partner and always look forward to arming you with information you can use. Turn to us when you're ready to win in this marketplace and to take advantage of the market trends for your move.


See all West Orange, New Jersey residential homes for sale

See all South Orange, New Jersey residential homes for sale

Posted Sunday Nov 01