Is Cranbury, 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 was a Buyer's Market.
Key Takeaway
Cranbury is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranbury, NJ
How much do homes in Cranbury, NJ cost?
Median Sold Price
$625,000
$274/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Cranbury has remained the same since last year.
Summary: The median home sold price in Cranbury was $625,000 in April 2024, the same as last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $445K | $203K | -54.4% |
| 2 Bedrooms | $340.5K | $320K | -6.0% |
| 3 Bedrooms | $610K | $610K | 0.0% |
| 4 Bedrooms | $807.5K | $812K | +0.6% |
| 5+ Bedrooms | $1.4M | $1.0M | -26.6% |
Summary: Cranbury housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.4%, 2 bedroom homes decreased by 6%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 26.6%.
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, NJ
How many homes are available in Cranbury, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 36 | +28.6% |
Summary: The Cranbury real estate market had 36 homes for sale in April 2024, a 28.6% 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 | 6 | 10 | +66.7% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 10 | 15 | +50.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Cranbury 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 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 12 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranbury, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Cranbury in April 2024, up by 300.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 8% were sold at asking, and 83% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 28 Days | +10.9% |
Summary: Homes in Cranbury had an average of 28 days on market in Apr 2024, up by 10.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cranbury are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Cranbury; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.