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Post Rate Hike:

West Orange, NJ

Market Report

April 2022 vs October 2022


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Post Hike Rate - West Orange, NJ April 2022 vs Oct 2022

Lena Pesso

It’s been 10+ years for me in the real estate business. I love it ❤️...

It’s been 10+ years for me in the real estate business. I love it ❤️...

Nov 8 1 minutes read

Here's a 6 month post rate hike market update for West Orange, NJ (April 2022 vs October 2022, since interest rates went up).

During this time the average home sale price decreased from $605,584 to $501,333. The average days on market increased from 20 to 36, and the average sales/list price decreased from 111% to 103%.

There has definitely been a cooling in the market, however the numbers indicate that it's still a seller's market in West Orange.

Real estate is local. What's depicted in the national headlines doesn't always correspond to what's happening in our local markets.

April 2022 

81

New Listings

134

Active Listings

54

Under Contract

38

Closed Sales

October 2022 

45

New Listings

123

Active Listings

45

Under Contract

37

Closed Sales

April 2022 

$605,584

Average Sales Price

20

Average Days on Market

2.5

Months of Supply

October 2022 

$501,333

Average Sales Price

36

Average Days on Market

2.7

Months of Supply


April 2022

Homes Sold

111%

Sale-to-List Price



October 2022

Homes Sold

103%

Sale-to-List Price


Curious about what
your home is worth now?

We're able to explain what these numbers mean for you and your home's current market value. 

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