Is Cranbury Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Cranbury Township was a Buyer's Market.
Key Takeaway
Cranbury Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranbury Township, NJ
How much do homes in Cranbury Township, NJ cost?
Median Sold Price
$823,500
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cranbury Township have sold for 1% more than they did a year ago.
Summary: The median home sold price in Cranbury Township was $823,500 in April 2024, up 1% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $715K | $114.1K | -84.0% |
| 2 Bedrooms | $464.9K | $550K | +18.3% |
| 3 Bedrooms | $617.5K | $600K | -2.8% |
| 4 Bedrooms | $870K | $919.5K | +5.7% |
| 5+ Bedrooms | $1.4M | $1.1M | -22.9% |
Summary: Cranbury Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 84%, 2 bedroom homes increased by 18.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Plainsboro | $555K | $630K | +13.5% |
| Plainsboro Township | $529.5K | $587.5K | +11.0% |
| East Windsor Township | $401K | $420K | +4.7% |
| Cranbury Township | $815.5K | $823.5K | +1.0% |
| Cranbury | $625K | $625K | 0.0% |
Housing Supply in Cranbury Township, NJ
How many homes are available in Cranbury Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Summary: The Cranbury Township real estate market had 21 homes for sale in April 2024, a 31.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Cranbury Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranbury Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Cranbury Township in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Cranbury Township, NJ
How long does it take to sell a home in Cranbury Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 21 Days | -14.1% |
Summary: Homes in Cranbury Township had an average of 21 days on market in Apr 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cranbury Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Cranbury Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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