South Orange and Maplewood are officially “hot,” according to a new article by NJ.com.
South Orange is ranked #3 and Maplewood is ranked #9 (with neighboring Millburn at #1) in the NJ.com/NJ Realtors list of Top 10 Hottest NJ Real Estate Markets in 2016.
NJ Realtors used three equally weighted criteria to determine the list:
- median sales price,
- average days on market, and
- average percent of list price received
for properties sold through July 2015.
Maplewood had a median sales price of $575,000, 38 days on market, and 102.9 average percent of list price received.
South Orange had a median sales price of $679,000, 39 days on market, and 101.7 average percent of list price received.
See the full list here.