As the real estate market heads into the fall, Maplewood, NJ, and its sister town of South Orange, NJ, are showing prices and demand well ahead of last year, according to weekly market data tracked by Mark Slade Homes. Mark Slade, who holds two degrees in Economics and uses his own "hyper market index" to analyze the market, provides a real-time snapshot of buyer activity as of the week ending August 23.
Slade's hyper market index compares the number of homes under contract to active listings. A ratio above 1.0 indicates a "hyper market," where demand outpaces supply. This method contrasts with the traditional absorption rate, which averages closed sales over six months and can underestimate market strength due to seasonality. Slade tracks this index weekly across seven towns, calculating average sale price, percentage over asking, and days on market.
Among the towns tracked, Montclair holds the strongest position with 191 homes sold year-to-date, an average sale price of $1,512,172, and 22.5 percent over asking. Homes there average 17.4 days on market, and its hyper market index is the highest at 1.9. Maplewood follows with 137 solds (for listings taken this year), an average price of $1,304,556, and 16.4 percent over asking, with the fastest pace of any town at 13.6 days on market. Its ratio sits at 1.2. South Orange is close behind with 86 solds, an average price of $1,230,401, and 15.8 percent over asking, averaging 14.9 days on market with a ratio of 1.6, actually ahead of Maplewood on that measure.
Other towns show varied performance. West Orange has posted 239 solds with an average price of $768,749 and 10.6 percent over asking, running about 20.6 days on market with 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 (for this year's listings), an average price of $1,399,451, and only 3.2 percent over asking. Its ratio of 0.7 means there are more active listings than homes under contract, and days on market run about 20.2. Rahway, the newest town added to the tracking, is softer still at 1.2 percent over asking, 30.2 days on market, and a ratio of 0.3.
The data also highlights carryover inventory. Year to date, Maplewood has closed 156 sales total, with 137 of those from listings taken this year, indicating little old inventory is dragging on the numbers. Livingston shows the opposite pattern, with a much larger share of its 204 year-to-date closings tied to older listings, which helps explain why its pricing power lags. Additionally, Livingston has a higher percentage of exclusive listings (homes sold without full open market exposure) at 10.8 percent of closings, compared to roughly 2 to 6 percent in other towns, further softening pricing.
Compared to last year, 2026 is outperforming 2025 across the board. Maplewood's closed sales represent 87.8 percent of its year-to-date total from last year, with significant gains in average price and percentage over asking. South Orange is running at 84.9 percent of last year's pace with similar improvements. West Orange and Montclair are trending strong at 80.5 percent and 88.4 percent, respectively, while Livingston, at 76.5 percent, continues to be the slowest market.
For sellers considering listing before Labor Day or waiting, Slade advises waiting until the week after. August is typically the weakest month for real estate, and listing during Labor Day week competes with back-to-school activities, which can distract buyers. Waiting a week allows families to settle into their routines, historically leading to stronger results for sellers.
These insights are crucial for homeowners and buyers in the region, as they indicate where the market is heading and what to expect in terms of pricing and competition. For ongoing updates, readers can follow the blog for detailed market coverage.
