West Orange, New Jersey has seen a zigzag in residential home sale prices that begs the question: Have home prices stopped falling? In the last issue of The Beacon, our periodic West Orange real estate report, we reported a 15% price drop in the average sale prices of residential homes when comparing the first half of 2009 with 2008. Now, we've expanded the view over a three-year period.

West Orange, New Jersey peaked in 2006 with an average sales price of $491,836 between July and September. The big freefall began in early 2008 when the average sales price plummeted from $463,743 to $381,664 within nine months, causing an 18% drop in the average sales price.

Check out our full The Beacon report and see more answers to what's happening in West Orange real estate and see what has sold between July and September 2009.

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