West Orange, NJ 07052 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market indicator, the median sold price, is $686,000, anchoring recent valuation and showing that realized transactions are supporting higher price levels with prices up year-over-year.
2. Listing dynamics show a notable spread between asking and transaction benchmarks — the median listing price is $600,000 while the median sold price is $686,000, which may indicate pricing friction or sample composition differences and suggests sellers should align expectations to recent closed sales.
3. Market liquidity appears mixed: the median days on market is 261, which suggests slower sales velocity despite the market being characterized as hot; this combination may reflect longer negotiation cycles or a narrower pool of qualified buyers.
4. Rental and financing context is a caution for investors and owner-occupiers: the median market rent is $2,500 and rent trends are down, while interest rate pressure is elevated—Current 30-year fixed mortgage rates in West Orange, NJ, are approximately 6.49%, which may constrain buyer affordability and affect buyer pool composition.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.