A real estate market measurement called the hyper market index, developed by Mark Slade of Mark Slade Homes in Essex County, suggests that Maplewood's housing market is significantly more active than traditional absorption rates indicate. The index, which compares the number of properties under contract against active listings, properties in attorney review, and coming-soon inventory, shows Maplewood at 1.9 as of late June 2026, meaning nearly twice as many homes are under contract as are available. This contrasts with a reading of 1.0, which Slade considers the threshold for a hyper market.
Slade and his partner, MaryCeu Nunes, created the index to provide real-time market conditions rather than relying on backward-looking measures like absorption rate, which averages sales over six months. The hyper market index captures recent buyer decisions, with most contracts signed in the past one and a half to two and a half months. For example, if a market had a slow December and a strong March, absorption rate blends them together, while the hyper market index shows current momentum.
Across six towns tracked by Slade, readings as of late June 2026 are: Livingston at 0.8, West Orange at 1.1, Union at 1.3, South Orange at 1.7, and Maplewood at 1.9. Slade notes that any reading above 1.0 indicates a hyper market. The data comes from the Garden State MLS, not Zillow, which aggregates from multiple sources including private listings. For buyers and sellers in Maplewood and South Orange, this means Zillow's market reads can be materially off from the Garden State MLS-driven market they are transacting in.
The percent-over-asking figures reinforce the index. For the week ending June 21, Maplewood's average sale price was $1,323,000, up roughly $220,000 from the end of 2025, with properties selling at 16.1% over asking. South Orange averaged $1,221,000 with 15.5% over asking, up from 10.5% at year-end 2025. Both towns have increased their hyper market readings since December. Livingston, with the second-highest average price at about $1,350,000, had only 2.9% over asking and a hyper market ratio of 0.8, indicating supply is outpacing buyer commitment.
For buyers waiting to enter the market, Slade argues that the cost of deferring a purchase compounds quickly. In Maplewood, where average sale prices have risen roughly 22% since the end of last year, buyers who sit out are watching the entry point move further away. The buyer resources page at Mark Slade Homes covers competitive offer situations, appraisal waiver programs, and market-specific guidance for those navigating the current market across Maplewood, South Orange, and the wider Essex-Union County corridor.
