Is Cedar Grove Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cedar Grove Township has remained a Buyer's Market.
Key Takeaway
Cedar Grove Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cedar Grove Township, NJ
How much do homes in Cedar Grove Township, NJ cost?
Median Sold Price
$685,000
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cedar Grove Township have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Cedar Grove Township was $685,000 in May 2024, up 5.4% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $252K | $265K | +5.2% |
| 2 Bedrooms | $562.5K | $535K | -4.9% |
| 3 Bedrooms | $615K | $630K | +2.4% |
| 4 Bedrooms | $700K | $775K | +10.7% |
| 5+ Bedrooms | $745K | $950K | +27.5% |
Summary: Cedar Grove Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Cities
| Little Falls Township | $470K | $516K | +9.8% |
| Little Falls | $485K | $518.5K | +6.9% |
| Cedar Grove Township | $650K | $685K | +5.4% |
| Cedar Grove | $645K | $680K | +5.4% |
| North Caldwell | $915K | $845K | -7.7% |
Housing Supply in Cedar Grove Township, NJ
How many homes are available in Cedar Grove Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 35 | +20.7% |
Summary: The Cedar Grove Township real estate market had 35 homes for sale in May 2024, a 20.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 7 | 11 | +57.1% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Cedar Grove Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Grove Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Cedar Grove Township in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Cedar Grove Township, NJ
We’re sorry, we don't have information for this market at the moment
