West Orange Had 46 Home Sales in June With a 3% – 7% Price Decrease
West Orange, NJ had 46 residential home sales in June, which just happens to be the same amount as Montclair, NJ. Compared to the average and median sale prices of $350,848 and $292,500 achieved in May, the prices for June came in at a $342,766 average sales price and a $312,500 median sales price.
These homes sold, on average, at 96.4% of list price in 79 days and reflect about a 7% year-over-year price decrease in the average sales price and a 3% decrease in median sales price. See the homes in the video to the right and more detail in the chart below.
The lowest priced home sold for just $76,000 at 7 Watchung Avenue, a 3 bedroom home with 1 full and 1 half bathroom. The most expensive June home sale was the 3 bedroom, 3 full bath, 1 half bath Bel Air townhome at 4 Hundt Place. It sold for $735,000. An example of the average sales price can be found at 31 Woods End Road. This 3 bedroom, 1 full bath, 1 half bath home sold for $342,500.
In total, West Orange had 428 residential homes and 34 multi-family homes on the market for sale last month, which hovered closely to the May numbers. Of those, 65 were noted as new listings in June; 4 of which were multi-families. Sixty-one residential and 3 mutli-family homes went under contract in June.
West Orange June 2012 Sales Review / 46 Home Sales
| Rooms | Bedrooms | Full Baths | Half Baths | List Price | Sales Price | %SP/LP | DOM | |
| Min | 4 | 1 | 1 | 0 | $72,000 | $76,000 | 81.8 | 6 |
| Max | 12 | 6 | 4 | 2 | $749,000 | $735,000 | 105.6 | 410 |
| Average | 8 | 3 | 2 | 1 | $356,091 | $342,766 | 96.4 | 79 |
| Median | 7.0 | 3.0 | 2.0 | 1.0 | $329,450 | $312,500 | 96.8 | 59.5 |
The 7% average and 3% median price decrease year-over-year is reflected in the June 2011 numbers that show although 6 less homes sold (40) the average sales price was $367,829 and the median sales price was $321,000.
If you are ready to sell your home, give us a call today at 201-647-6144.
Please Note: All of these figures are from the Garden State Multiple Listing Service (GSMLS) and do not include all new construction or private sales/rentals.
