West Orange Real Estate Having an Amazing Year for Sellers

I view one of the most important aspects of my job as a Realtor is to provide my clients with the most up to date information on the real estate market. I make it a practice to analyze the market on a weekly basis and publish statistics to that people can be in the know and have been tracking stats for the past several years.

I have to say that while we have experienced the upward pressure on pricing in most of the area's towns, due to limited inventory and a tremendous amount of pent up buyers, that this year West Orange stands out as one of the most dramatic changes in the area.

For the Year-to-date--meaning houses listed only as of January 1, 2024 and then also closing since the start of the year--West Orange is showing an average sale price of $682,695. Equally important is the trend when comparing asking prices to sale prices and we are witnessing a huge leap over 2023's 8.5% with 2024 tracking at 12.5% over asking. That is almost a 50% improvement over the year before.

The same can be said for witnessing the increases in average price sold. We ended the year of 2023 with an average sale price of $642,659 and this year we are trending at $682,695. This represents an increase in average price 24 v. 23 of 6% over the previous year.

The only "down" figure would be the number of units sold, which is now trending at a 13.7% decrease in units. Explained further, in 2023 West Orange had a total of 417 sales of single family homes according to the GSMLS whereas, we have only closed 180 units through the end of June and if you double that we project about 360 units will be sold in 2024.

So the market couldn't be much more favorable to someone contemplating the sale of their current property. That being said, The Mark Slade Homes Team at Keller Williams likes to add a little more food for thought to such a scenario as we bested the market trend by a spread of 10% more than that recorded for the averages in 2023; The Mark Slade Homes Team sold their West Orange clients' listings for almost 19% Over Asking when the average for the town was 8.5%.

Want to learn more about the market? Call or Text Mark at 917-797-5059

Want to get a copy of Mark's book for Sellers (click here): www.SladeTeamSellersBook.com

The Mark Slade Homes Team is proud to say that they have closed about $One-Half Billion in lifetime team sales. They have been so successful with their efforts to get their sellers the best results, they have recently taken to applying for both a copyright and a trademark for their recently branded listing system--SMART RE-SULTS. Want to learn more, call/text us at 917-797-5059

Mark Slade Keller Williams 917.797.5059

Selling a Maplewood/South Orange/West Orange area home involves many steps and having an experienced New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield--by your side will make the transaction run a lot smoother. I would love to be your chosen New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.

As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers

I am also a Luxury specialist (CLHMS), I have received special training to guide and educate you through the entire home buying and selling process. Not only does this extra training help me better understand this upper echelon in real estate, its benefit include a special luxury website: www.njluxhomes.com and a corresponding worldwide luxury network that helps to put luxury buyers and sellers together.

As your Maplewood/South Orange/ West Orange New Jersey listing agent I am well versed on as your local expert in all things in the West Orange, Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority. Don’t forget These Helpful Sites:

www.bedroomcommunitiesofnyc.com

www.njluxhomes.com

www.bedroomcommunitiesofnyc.com

www.goodhomesforgoodpeople.com

www.unioncountyproperties.com