As the real estate market moves past its midpoint, data from Mark Slade Homes indicates that Maplewood and South Orange are experiencing strong demand and pricing power compared to last year. Mark Slade, who holds an economics degree, utilizes his proprietary "hyper market index" to provide real-time insights into buyer activity. This index compares homes under contract to active listings, with a ratio above 1.0 signaling a hyper market where demand exceeds supply.
According to the latest weekly snapshot for the week ending August 23, Montclair leads the group with a hyper market index of 1.9, followed by South Orange at 1.6, Maplewood and West Orange at 1.2, and Union at 1.0. In contrast, Livingston and Rahway show softer conditions with ratios of 0.7 and 0.3, respectively. These figures highlight varying market dynamics across the seven towns tracked.
Maplewood has seen 137 same-year listings sold at an average price of $1,304,556, with homes selling 16.4% over asking and averaging just 13.6 days on market—the fastest pace among the group. South Orange follows closely with 86 solds at an average price of $1,230,401, selling 15.8% over asking and averaging 14.9 days on market. Montclair boasts 191 solds with an average price of $1,512,172, achieving 22.5% over asking and 17.4 days on market. West Orange and Union also show strong performance, with average prices of $768,749 and $602,239, respectively, and homes selling 10.6% and 4.2% over asking.
Livingston, however, presents a contrasting picture. With 156 solds at an average price of $1,399,451, homes there are only selling 3.2% over asking, and the market has more active listings than homes under contract. This softer performance is partly attributed to a higher proportion of carryover inventory and exclusive listings, which accounted for 10.8% of closings this year, compared to 2-6% in other towns.
Year-to-date comparisons show that 2026 is outperforming 2025 across the board. Maplewood's closed sales represent 87.8% of its 2025 pace, with significant gains in average price and percentage over asking. South Orange is at 84.9%, West Orange at 80.5%, and Montclair at 88.4%, while Livingston lags at 76.5%. This indicates a robust market overall, with Livingston being the exception.
For sellers considering listing before or after Labor Day, Slade advises waiting until the week after the holiday. August is typically the weakest month for real estate activity due to vacations, and listing during Labor Day week competes with back-to-school events. Waiting a week allows buyers to settle in, historically leading to stronger results for sellers.
Those interested in following these market trends can check the blog for ongoing updates.
