May Market Insight
The Spring Market Reached Full Speed
If April confirmed that the spring market had arrived, May showed us just how competitive it had become.
Across Maplewood and South Orange, buyer demand remained remarkably strong, well-prepared homes continued to attract multiple offers, and inventory remained the defining factor shaping the market.
It is important to remember that these May closings largely reflected buyer behavior from March and April, when many of these homes first came to market and went under contract.
The most important takeaway from May was this:
Demand continued to outpace supply, even as early signs of a more balanced market began to emerge.
Buyers were still competing. Homes were still selling above asking price. Yet compared to the frenzy of late winter and early spring, the market appeared to be taking a small step toward normalization.
Maplewood in May: The Competition Continued
Maplewood delivered another month of extraordinary results.
The average sales price reached $1,281,084, with homes selling for an astonishing 122.66% of list price on average. Homes spent just 15 days on market before selling.
During May:
24 homes sold
42 homes went under contract
Year-to-date, Maplewood prices are running 14.6% higher than 2025, while the number of homes sold remains 20% lower than last year.
That combination tells us everything we need to know.
Demand remains incredibly strong, but inventory remains incredibly limited.
When buyers find the right home, they are still willing to compete aggressively.
South Orange in May: Strong Demand Meets Growing Luxury Activity
South Orange posted one of its strongest months of the year.
The average sales price climbed to $1,224,314, with homes selling at 112.6% of list price on average.
May also saw:
18 homes sold
47 homes move under contract
What stands out is that many of May's sales occurred in the upper price ranges, helping push average prices higher than we've seen in recent months.
However, unlike Maplewood, South Orange's year-to-date pricing is essentially flat compared to last year, increasing only about 1% overall.
This tells us that while individual months may fluctuate, the broader South Orange market remains remarkably stable.
Looking Ahead
As we move into summer, the biggest question is no longer whether buyers were active during the spring.
They clearly were.
The question now is whether the buyer pool will remain as deep through June, July, and August as it was in March and April.
We are beginning to see some evidence that the intensity may be easing. Multiple offers are still common, but the sheer volume of offers on many homes appears to have moderated from the peak levels we saw earlier this year.
Whether that trend continues will largely depend on inventory, interest rates, and buyer confidence heading into the second half of 2026.
For sellers, preparation, pricing, and presentation remain as important as ever.
For buyers, opportunities may begin to emerge as competition becomes slightly less intense.
The summer market will tell us a great deal about what to expect for the remainder of the year.
And as always, we will be watching closely and sharing what we see.
Curious about another town? We provide this same level of market analysis throughout Northern New Jersey. Whether you're in Montclair, Livingston, Millburn, Cranford, Westfield, West Orange, or beyond, we're happy to share the numbers and what they mean for your neighborhood.
Our Perspective: Care • Serve • Give
At Pollock Properties Group, we believe data matters most when it helps people make confident decisions.
Our Care • Serve • Give philosophy guides everything we do.
We care by helping clients understand what the numbers actually mean.
We serve through preparation, strategy, negotiation, and hyper-local expertise.
And we give by investing back into the communities that make Maplewood, South Orange, West Orange, and Northern New Jersey such extraordinary places to call home.
Because real estate is never just about transactions.
It is about helping people arrive home.
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