South Orange began 2010 on a strong note outpacing January 2009 in both number of sales and average sales price enjoying 11 sales in January in a typically slow month, at a average sales price of $488,901. In February, activity in South Orange was slow with 9 total sales. As Spring began, March sales saw South Orange with a 30%  increase in the number of homes sold over February. In addition, due to a strong market on high end homes, the average sales price increased by a healthy 48%.

April home sales continued the 30% increase month-over-month but the average home sale prices fell slightly. There was a 40% decrease in days on market, which should be pleasing to South Orange sellers. The combination of the spring selling season and the Buyer’s tax credit has continued to strengthen South Orange’s Real Estate market. There was a 19% increase in May home sales coupled with 6% increase in average sale prices compared to April. A slight decrease occurred with June home sales over $600,000 which led to a 14% decrease in the average sales price for the month of June. The average fell to $483,463, down from $563,889 in May.

For additional information on home sales in South Orange please contact Bob Meaux at 201-647-6144.