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

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 primary market signal is the median sold price of 684,000, which anchors recent market value and aligns with a hot market temperature and a price year-over-year trend that is up; demand-driven appreciation appears to be the dominant force.
2. The median listing price of 675,000 sits slightly below the median sold price, which may indicate limited listing inflation and suggests strong closing prices relative to asks rather than broad seller overpricing.
3. The median days on market of 236 points to slower sales velocity for individual transactions despite overall market strength, which may reflect pricing friction or a heterogeneous mix of SFR and condominium supply; slower sales velocity should be considered in timing strategies.
4. The median price per square foot of 352 alongside a median market rent of 2,798 and a rent year-over-year trend that is up suggests steady rental demand; interest rate pressure is moderate and Current 30-year fixed mortgage rates in West Orange NJ are averaging approximately 6.5%, which together warrant caution for leveraged buyers and investors.

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.