Is Cedar Grove, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cedar Grove has remained a Seller's Market.
Key Takeaway
Cedar Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cedar Grove, NJ
How much do homes in Cedar Grove, NJ cost?
Median Sold Price
$675,000
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cedar Grove have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Cedar Grove was $675,000 in March 2024, up 5.5% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $252K | $265K | +5.2% |
| 2 Bedrooms | $562.5K | $495K | -12.0% |
| 3 Bedrooms | $615K | $630K | +2.4% |
| 4 Bedrooms | $690K | $761K | +10.3% |
| 5+ Bedrooms | $775K | $899.9K | +16.1% |
Summary: Cedar Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 16.1%.
Median Sold Price Compared To Nearby Cities
| Little Falls Township | $449.1K | $521K | +16.0% |
| Verona Township | $593K | $640K | +7.9% |
| Cedar Grove | $640K | $675K | +5.5% |
| Cedar Grove Township | $640K | $675K | +5.5% |
| North Caldwell | $912.5K | $835K | -8.5% |
Housing Supply in Cedar Grove, NJ
How many homes are available in Cedar Grove, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The Cedar Grove real estate market had 23 homes for sale in March 2024, a 9.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Cedar Grove housing inventory by bedroom type for March 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 decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Grove, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Cedar Grove in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Cedar Grove, NJ
We’re sorry, we don't have information for this market at the moment
