Fran’s Market Update

By maryellen January 23, 2023

As expected, inventory has begun to slowly dribble on to the market.

I went to see a new listing in Upper Gregory in West Orange yesterday priced at $575k.  It is a very nice- looking Tudor style home. The open house was mobbed. This was a true indication of how many buyers are out there who have been waiting for the new inventory to show up. Even though interest rates have risen dramatically, people still need places to live! 

Another recent observation was that the higher end of the market ( $1.25-1.7 million) in Maplewood/South Orange also remains very strong. Not long ago several homes in those ranges hit the market and were under contract within days. Just more indicators that our towns, with their diversity and proximity to Manhattan, feel like home to many. 

If you are looking to buy or sell in any of our local towns, please know that we are uniquely poised to help you to achieve your goals. We have been in business for 19 years and have not only gained invaluable experience working with both buyers, sellers and investors but have also assembled an amazing lineup of service providers who can help prepare your home for the market. In addition, a very talented stager and an amazing Client Services Manager make up the rest of our team.

We look at our clients as our partners.  We analyze your goals, listen to your needs and come up with a plan together. Whether buying or selling, we are confident that we can guide you seamlessly through the process.

LOCAL MARKET STATISTICS -For Single Family Homes. 

  Active Now
(as of 1/8)
Under Contract
since 1/5
MAPLEWOOD    17 (16)          3
SOUTH ORANGE    14 (11)      4
WEST ORANGE       37 (41)   14
MONTCLAIR    12 (11)    5
BLOOMFIELD    20 (22)    5
MILLBURN/SHORT HILLS   18 (15)   0
ORANGE   21 (20)   4
UNION   36 (45)   15
SUMMIT   17 (15)    3