The December results are in and we have the data from January – November 2014 and it was a good year for South Orange real estate. November inventory was way down and home sale prices rose considerably over November 2013. View the video market report below:
Why South Orange Real Estate Values Are Strong
- Commuter Friendly – With commute time a key factor in making a decision for a home purchase, especially now that dual income households are the majority, proximity to work is a huge factor in determining where a buyer will end up. South Orange has a distinct advantage of being one of the first stops on the Midtown Direct train line.
- Urban Suburbs More in Demand – Many first time home buyers enjoy living in city environments, but they just can’t get the space they need. With new South Orange buyers coming primarily from Brooklyn, Queens, Manhattan and Hoboken they want to maintain their urban lifestyle, yet live in a more spacious home. South Orange is the perfect antidote to this trend with its cultural offerings, downtown village center and diverse population.
- Increase in New Home Buyers – The increase in new/first time home buyers translates to current residents having the opportunity to sell and move up or scale down. This creased increased market activity and ultimately increases in home values.
Thinking of making a move. No one know the South Orange (and Maplewood) markets better than Amy. Enlist her expertise and concierge service to get started today.