Is Cranford Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cranford Township has remained a Seller's Market.
Housing Prices in Cranford Township, NJ
How much do homes in Cranford Township, NJ cost?
Median Sold Price
$685,000
$515/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cranford Township was $685,000 in April 2024, up 11.7% from last year, and the median price per square foot was $515.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $262K | $264K | +0.8% |
2 Bedrooms | $367.5K | $427.5K | +16.3% |
3 Bedrooms | $580K | $650K | +12.1% |
4 Bedrooms | $725K | $760K | +4.8% |
5+ Bedrooms | $900K | $970.5K | +7.8% |
Summary: Cranford Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Kenilworth | $490.5K | $575K | +17.2% |
Cranford Township | $613K | $685K | +11.7% |
Cranford | $615K | $685K | +11.4% |
Garwood | $525K | $561K | +6.9% |
Roselle Park | $456K | $487K | +6.8% |
Housing Supply in Cranford Township, NJ
How many homes are available in Cranford Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
60 | 84 | +40.0% |
Summary: The Cranford Township real estate market had 84 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 28 | 36 | +28.6% |
4 Bedrooms | 14 | 23 | +64.3% |
5+ Bedrooms | 7 | 14 | +100.0% |
Summary: The Cranford Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 23 | +187.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Cranford Township in April 2024, up by 187.5% month-over-month. Of the 23 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for Cranford Township, NJ
How long does it take to sell a home in Cranford Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
82 Days | 122 Days | +48.8% |
Summary: Homes in Cranford Township had an average of 122 days on market in Apr 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in Cranford Township; 0% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.