Is Cranbury, 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, Cranbury has remained a Buyer's Market.
Key Takeaway
Cranbury is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cranbury, NJ
How much do homes in Cranbury, NJ cost?
Median Sold Price
$610,000
$271/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cranbury have sold for 3% less than they did a year ago.
Summary: The median home sold price in Cranbury was $610,000 in March 2024, down 3% from last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $203K | +9.7% |
| 2 Bedrooms | $340.5K | $450.5K | +32.3% |
| 3 Bedrooms | $615K | $600K | -2.4% |
| 4 Bedrooms | $815K | $812K | -0.4% |
| 5+ Bedrooms | $1.4M | $999.9K | -29.8% |
Summary: Cranbury housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 32.3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 29.8%.
Median Sold Price Compared To Nearby Cities
| Plainsboro Township | $530K | $565K | +6.6% |
| Plainsboro | $555K | $580K | +4.5% |
| East Windsor Township | $415K | $410.1K | -1.2% |
| Cranbury | $629K | $610K | -3.0% |
| Cranbury Township | $816K | $770K | -5.6% |
Housing Supply in Cranbury, NJ
How many homes are available in Cranbury, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Summary: The Cranbury real estate market had 37 homes for sale in March 2024, a 12.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Cranbury housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cranbury, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Cranbury in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Cranbury, NJ
How long does it take to sell a home in Cranbury, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 207 Days | +417.5% |
Summary: Homes in Cranbury had an average of 207 days on market in Mar 2024, up by 417.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cranbury are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in Cranbury; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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