The Maplewood and South Orange real estate markets are heading into fall with prices and demand still running well ahead of last year, according to the weekly market data tracked by Mark Slade Homes. Mark Slade, who holds an economics degree, has developed a proprietary metric called the hyper market index, which compares the number of homes under contract to active listings. When this ratio exceeds 1.0, it signals a hyper market, indicating demand is outpacing supply. Slade updates this index weekly across seven towns, providing real-time insight into buyer activity, as opposed to traditional absorption rates that average six months of closed sales.
The latest snapshot, for the week ending August 23, shows Montclair leading the pack with a hyper market index of 1.9. The town has seen 191 homes sold so far this year, with an average sale price of $1,512,172, which is 22.5% over asking. Homes there average 17.4 days on market. Maplewood follows with 137 solds from same-year listings, an average price of $1,304,556 (16.4% over asking), and a blistering pace of 13.6 days on market, the fastest among all tracked towns. Its hyper market index stands at 1.2. South Orange, with 86 solds, has an average price of $1,230,401 and 15.8% over asking, but its index is higher at 1.6, indicating even stronger demand relative to supply.
Further out, West Orange has seen 239 solds at an average price of $768,749 (10.6% over asking) and a ratio of 1.2. Union shows 198 solds at an average of $602,239, with 4.2% over asking and a ratio of 1.0. Livingston is the softest core market, with 156 solds at an average price of $1,399,451, only 3.2% over asking, and a ratio of 0.7, meaning active listings outnumber homes under contract. Rahway, the newest addition to the tracking, is even softer with 1.2% over asking, 30.2 days on market, and a ratio of 0.3.
A key factor in these variations is the amount of carryover inventory. Maplewood has closed 156 sales year-to-date, with 137 from listings taken this year, indicating little drag from older listings. In contrast, Livingston has a larger share of its 204 closings tied to older listings, which weakens its pricing power. Additionally, Livingston has a higher proportion of exclusive listings (10.8% of closings) compared to the 2-6% range in other towns, further softening its results.
Comparing to last year, 2026 is outperforming 2025 across the board. Maplewood's closed sales are at 87.8% of last year's pace, with significant gains in price and percentage over asking. South Orange is at 84.9%, West Orange at 80.5%, and Montclair at 88.4%. Livingston lags at 76.5%, continuing its slower trend.
For sellers contemplating listing before Labor Day, Slade advises waiting until the week after. August is typically the weakest month, and listing during Labor Day week competes with back-to-school activities, diverting buyer attention. Waiting a week allows families to settle into their routines, historically leading to stronger results for sellers. Those interested in tracking these metrics can follow the weekly updates on the Mark Slade Homes blog.
