Cranford, NJ Real Estate Update
There are currently 106 single family homes and 4 multi family homes on the market for sale. These numbers have risen substantially in the past month as the spring market picked up with a flood of new inventory. Last month, there were 95 listings for sale at this time. Inventory levels are much higher than before, giving buyers more options when selecting a home.
Although prices have trended lower or flatlined, Cranford still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.
There were 31 properties that closed in July in Cranford, the average selling price was $$446,100 and the average days on market was 55. (according to Garden State MLS Statistics) This is substantially more closed sales than in June, which indicates that buyers are actively seeking Cranford in this market.
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