SOMA Market Update
The real estate market in South Orange and Maplewood (SOMA) continues to show strong activity. According to recent data, home prices in the area have been steadily increasing, making it a competitive market for buyers.
In South Orange, the median home price has risen by 8% compared to last year, reaching an average of $575,000. Maplewood has also seen a similar trend, with home prices increasing by 6% to an average of $550,000.
Despite the rising prices, homes in SOMA are selling quickly, with an average of 30 days on the market before being sold. This indicates a high demand for homes in the area.
Overall, the real estate market in SOMA remains robust, with buyers and sellers both actively participating in the market. As we head into the busy spring season, it will be interesting to see how the market continues to evolve. Stay tuned for more updates on the SOMA real estate market.