A new report set to be released later this week by Towne Realty Group, 511 Milburn Ave., Short Hills, and obtained early by Patch, states the West Orange residential housing market is showing signs of stability with average sales not reflecting a former downward trend.

"Average sale prices may not have made significant gains, but they haven't really dropped either," states the report. "When we compared the first half of 2009 to 2008 last year, we reported a 15 percent drop in the average sale price."

Bob Meaux, a real estate agent with Towne, said the report is good news for the township.

"The supply has always been there, so I think it has to do with the overall confidence of the consumers," he said. "They're more willing to drop that $500,000, where last year that wasn't the story."

Looking at the first six months from January to June, the report compared the same months from 2009, stating there was an increase in average home sales from $379,540 to $381,795.

The report states that of the 179 homes sold during these months, 71 percent were sold under $400,000.

Meaux said the overall market in West Orange has changed in the past year.

"I think people overall now have more confidence and may think 'my job may not be in jeopardy' as much as last year," he said.

Taly Schwarzer, 47, of West Orange, closed on a house in June in the township's St. Cloud section.

She said her family's main reason for moving from Alabama to West Orange was her husband's job at Montclair State University and the township's school system.

"Our son was accepted to the Alabama School of Fine Arts, so we had to look for a high school for him that has drama," she said. "He went to Montclair High School, Columbia High School (in South Orange) and settled on West Orange High School, where he'll be a sophomore in the fall."

Schwarzer said her family was hesitant to purchase a house right away and rented in the township for one year before buying.

"People keep asking for prices that are not reasonable for the market," she said. "They are asking for something that would have been priced that two or three years ago."

She said it was hard to find a house reasonably priced. "We started last year and very quickly decided not to buy from far away," she said. "That's when we decided to rent for a year to get to know the town better."

Meaux said there could be a loosening somewhat of mortgages compared to 2009 that is resulting in the township's better home sales.

"Last year, it was more difficult to get a mortgage, so that could have had a large impact," he said.

Robert Levy, executive director and council of Mortgage Bankers Association of New Jersey and Pennsylvania, said at this point in time, he's not seen a significant ease of credit.

"There may be some stabilizing of houses, but sales are not," he said. "There are still general concerns as we're not out of the woods yet."

Meaux said in West Orange, where the average single-family home costs $425,000, the supply of higher-end houses hasn't changed.

"In the past, we would have more houses selling in the $200,000 to $300,000 range than the $600,000 to $700,000 range," he said. "So, that of course decreases average sales prices."

Tamiko Edmead, 33, of Fairview, said she and her husband Travis currently are searching for a home in West Orange.

"We're looking in West Orange because the schools are very good and there's a lot of diversity and, because it's a place you can move up to," she said. "You can come in at (an) entry level (home) and move up to something better."