Is Cranford, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cranford was a Seller's Market.
Key Takeaway
Cranford is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cranford, NJ
How much do homes in Cranford, NJ cost?
Median Sold Price
$675,375
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cranford have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Cranford was $675,375 in March 2024, up 9.8% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $262K | $267K | +1.9% |
| 2 Bedrooms | $360K | $422K | +17.2% |
| 3 Bedrooms | $580K | $625K | +7.8% |
| 4 Bedrooms | $725K | $750K | +3.4% |
| 5+ Bedrooms | $900K | $942K | +4.7% |
Summary: Cranford housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Kenilworth | $485K | $580K | +19.6% |
| Cranford | $615K | $675.3K | +9.8% |
| Cranford Township | $615K | $675K | +9.8% |
| Roselle Park | $450.5K | $486K | +7.9% |
| Garwood | $527.5K | $554.5K | +5.1% |
Housing Supply in Cranford, NJ
How many homes are available in Cranford, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 62 | +19.2% |
Summary: The Cranford real estate market had 62 homes for sale in March 2024, a 19.2% 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 | 9 | 9 | 0.0% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 10 | 17 | +70.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Cranford 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 remained the same, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 70%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranford, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Cranford in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% were sold over asking.
Days on Market for Cranford, NJ
We’re sorry, we don't have information for this market at the moment
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Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.