As the fall season approaches, the real estate markets in Maplewood and South Orange, NJ, are showing robust activity, with prices and demand well ahead of last year, according to the weekly market data tracked by Mark Slade Homes. Mark Slade, who holds degrees in economics, has developed a unique metric called the hyper market index, which compares homes under contract to active listings. When the ratio exceeds 1.0, it indicates a hyper market where demand outpaces supply.
The latest weekly snapshot, for the week ending August 23, reveals that Montclair holds the strongest position among the seven towns tracked, with 191 homes sold, an average sale price of $1,512,172, and 22.5 percent over asking. Homes in Montclair are selling quickly, averaging just 17.4 days on market, and its hyper market index stands at 1.9, the highest in the group.
Maplewood has seen 137 solds (Slade's analysis focuses on same-year listings), with an average sale price of $1,304,556 and 16.4 percent over asking. Notably, Maplewood homes are moving at the fastest pace of any town tracked, averaging just 13.6 days on market, with a ratio of 1.2. South Orange is close behind with 86 solds, an average price of $1,230,401, and 15.8 percent over asking, but its ratio of 1.6 actually surpasses Maplewood's.
West Orange has posted 239 solds with an average price of $768,749 and 10.6 percent over asking, with homes averaging 20.6 days on market and a ratio of 1.2. Union has 198 solds at an average price of $602,239, trending 4.2 percent over asking with a ratio right at 1.0.
Livingston remains the softest of the core markets, with 156 solds, an average price of $1,399,451, and only 3.2 percent over asking. Its ratio of 0.7 indicates more active listings than homes under contract, and days on market run about 20.2. Rahway, the newest town tracked, is softer still, with 1.2 percent over asking, 30.2 days on market, and a ratio of 0.3.
Year to date, Maplewood has closed 156 sales, with 137 of those from listings taken this year alone, indicating little carryover inventory is dragging on the numbers. In contrast, Livingston shows a different pattern, with a much larger share of its 204 year-to-date closings tied to older listings, which helps explain its lagging pricing power. Another factor is the number of exclusive listings, which are homes sold without full open market exposure. In Livingston, exclusives made up 10.8 percent of closings this year, well above the roughly 2 to 6 percent seen in other towns.
Across the board, 2026 is outperforming 2025. Maplewood's closed sales this year represent 87.8 percent of its year-to-date total compared to 2025, and the town's percentage over asking and average price have both climbed meaningfully. South Orange is running at 84.9 percent of last year's pace with similar gains. West Orange and Montclair are both trending strong as well, at 80.5 percent and 88.4 percent respectively, while Livingston, at 76.5 percent, continues to be the one market moving more slowly.
For sellers weighing whether to list before Labor Day or wait, Slade advises waiting until the week after. Listing during Labor Day week competes with back-to-school nights and the general adjustment families are making to a new school year, which pulls attention away from house hunting. Waiting a week allows buyers to settle into their routines before turning their attention to a home search, historically producing stronger results for sellers.
Those interested in following these numbers as they update can check the blog for ongoing market coverage.
