Maplewood had 194 residential homes on the market for sale in May and 48 of those came on the market throughout the month. The average and median list price of the 194 homes were $406,130 and $389,000, respectively.

However, just like we have seen in other towns, homeowners began to push for higher prices because the average and median sale prices were higher for those homes that entered the market in May, coming in at $476,760 and $479,000, respectively. This isn’t abnormal, though, since this happens a lot during the advent of the Spring and Summer selling season.

Thirty-seven residential homes also went under contract while 20 were sold.

Compared to April there were 3 more residential home sales in May but the overall prices were lower resulting in an $83,204 decrease in the average sales price and a $45,000 decrease in the median sales price. Click here for pictures.

In addition, there weren’t any multi-family sales last month, but 16 properties were rented. These rental numbers only reflect what is posted in the Garden State Multiple Listing Service (GSMLS); many rentals occur without a real estate agent, which aren't reflected in this number.

Maplewood May 2012 Sales Review / 20 Home Sales

The year-over-year data shows a decline in both the number of homes sold and in how much they sold for. Although not as bad as the April to May numbers, when compared to May 2011, last month saw a $71,782 and a $21,000 drop in the average and median sale prices, respectively. Most notably, in May 2011, 3 residential homes sold for over $700,000; whereas in May 2012 (as you see in the pictures) there weren’t any sales over $665,000.

Maplewood May 2011 Sales Review / 27 Listings

Numbers always provide a good overview of any real estate market, but for specifics as it pertains to your street, neighborhood, and what your home offers always give a call.

NOTE: All information we provide is for informational purposes only and is never intended to create any type of business or agency relationship.