Is Garwood, 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, Garwood was a Seller's Market.
Key Takeaway
Garwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Garwood, NJ
How much do homes in Garwood, NJ cost?
Median Sold Price
$561,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Garwood have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Garwood was $561,000 in April 2024, up 6.9% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $432.5K | $652.5K | +50.9% |
| 3 Bedrooms | $500K | $530K | +6.0% |
| 4 Bedrooms | $568K | $652K | +14.8% |
| 5+ Bedrooms | $730.7K | - | N/A |
Summary: Garwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 50.9%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Westfield | $964K | $1.1M | +19.3% |
| Cranford Township | $613K | $685K | +11.7% |
| Cranford | $615K | $685K | +11.4% |
| Garwood | $525K | $561K | +6.9% |
Housing Supply in Garwood, NJ
How many homes are available in Garwood, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Garwood real estate market had 17 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 3 | -50.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Garwood 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 decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Garwood in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Garwood, NJ
We’re sorry, we don't have information for this market at the moment
