Maplewood's housing market is running hotter than standard metrics indicate, according to a weekly index developed by Mark Slade of Mark Slade Homes. The "hyper market index" compares properties under contract against active listings, attorney review, and coming-soon inventory. As of late June 2026, Maplewood's index reading is 1.9, meaning nearly twice as many homes are under contract as are actively available. This imbalance favors sellers and suggests that conventional measures like absorption rate, which averages data over six months, underestimate current demand.
Slade and his partner MaryCeu Nunes created the index to provide real-time market conditions. In a fast-moving market, absorption rate can be stale, he explains. For instance, a slow December and strong March get averaged together, masking current momentum. The hyper market index, by contrast, reflects recent buyer decisions, with most under-contract properties having accepted offers in the past one and a half to two and a half months. This immediacy helps sellers decide when to list and buyers gauge how aggressively to offer.
Data is sourced from the Garden State MLS, the primary listing system for agents in Essex and Union counties. Slade notes that Zillow aggregates from multiple sources, including exclusive listings not on Garden State MLS, so the two datasets measure different things. For buyers and sellers in Maplewood, the Garden State MLS data is most relevant. However, Slade acknowledges that if a property is listed on the NJ MLS instead, his data won't capture it.
Across six tracked towns, hyper market readings as of late June vary: Livingston at 0.8 (more active listings than under-contracts), West Orange at 1.1, Union at 1.3, South Orange at 1.7, and Maplewood at 1.9. Any reading above 1.0 is considered a hyper market. Percent-over-asking prices reinforce the trend: Maplewood averages 16.1% over asking, with an average sale price of $1,323,000—up roughly $220,000 from year-end 2025. South Orange averages 15.5% over asking, up from 10.5% in December, with an average price of $1,221,000. Both towns ended last year below hyper market readings, with South Orange at 0.7 in December.
Livingston, despite having the second-highest average price at ~$1,350,000, shows only 2.9% over asking and a ratio of 0.8, indicating supply outpacing buyer commitment. Slade attributes this to how inventory is handled there.
For buyers waiting to enter the market, the cost of deferring a purchase compounds. In Maplewood, average sale prices have risen roughly 22% since year-end 2025, and properties consistently close well above asking. Slade argues that with demand nearly double supply, sitting out is not preserving optionality but watching the entry point move away. For those navigating the market, the buyer resources page at Mark Slade Homes covers competitive offer strategies, appraisal waivers, and market-specific guidance.
This article is based on information provided by the source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice.
