SOMA Real Estate Update
Inventory remains low. According to the Garden State MLS (GSML)*, as of Sunday, April 9, there are 60 homes for sale in South Orange with 7 of them in attorney review. Prices range from $139,000 for a condo off of Irvington Avenue to over $1.3 million for a Tudor on North Ridgewood Road. If you are looking for a 4 bedroom home in South Orange; there are 10 homes available ranging from $335,000 to $899,000. The average days on market for properties under contract is 44 days. The current absorption rate is 3.69 months.
Maplewood has even lower inventory with 49 homes for sale. 11 of them are in attorney review. The houses have the same price range as South Orange. If you are looking for a 4 bedroom home in Maplewood, there are 9 homes ranging from $245,000 in the Hilton neighborhood to $1.1 million on Woodland Road. Days on market is on par with South Orange at 45 days. Maplewood's absorption rate is shorter at 2.62 months.
Spotlight: South Orange
If you are looking for a bright, spacious home with modern amenities; take a look at 56 Tillou Rd. West in the Upper Wyoming neighborhood. This home is listed by the Mark Slade Team, Keller Williams Mid-town Direct. For more information, contact me at 703-304-7971 or firstname.lastname@example.org.
*Information compiled from the Garden State MLS is deemed reliable but not guaranteed.
Shannon Severin is a long-time resident of South Orange, mom of 3, and real estate agent for Keller Williams Mid-Town Direct.