Cranford is a beautiful town located in central Union County. About 23,000 people call Cranford home and New Jersey Monthly magazine ranked Cranford as its 34th best place to live in its 2010 rankings.
Before you buy or sell a home, it’s critical to understand local market conditions. Here’s what you need to know for August, 2014.
Inventory: There are 97 homes offered for sale in Cranford, ranging in price from $169,000 to $1,350,000. Inventory is dropping – down from 102 in July and a summer high of 119 in June. There were 29 homes sold in Cranford in August, the highest month of the summer.
Prices: The median sold price of a home in Cranford in August was $439,000, up from July’s $420,500 and up from the 12 month average of $411,039. The median list price of a home in Cranford in August was $449,000, up from July’s $427,450 and up from the 12 month average of $425,517.
Days on Market: Homes in Cranford continue to sell quickly. The average home that sold in Cranford in August was sold after only 36 days on the market.
What does this mean to you? The summer market appears to be coming to an end. The homes that were in market-ready condition and that were priced to sell were sold over the summer, but the summer has ended strongly. Even though inventory is dropping, there are still some beauties left so buyers arriving late to the market still have some opportunities. Sellers who want to sell their homes this winter will have to have a strong marketing campaign, great pricing, and be market ready in order to appeal to the decreased number of buyers in the market right now.
For more information on selling your home:
For more information on Cranford Real Estate:
- A Tour of Cranford - July 14, 2014
- What’s our Cranford Home Worth? July 30, 2014
- Homes are Selling Quickly in Cranford – June 23, 2014
- The Spring Real Estate Market in Cranford – 5/17/14
- What’s up in the Cranford Real Estate Market – 4/17/2014
- Sold!!! 611 Hory Street, Cranford - 4/26/2014
- Obtaining a CCO in Cranford – 3/15/2014
- Cranford Real Estate Update – 2/8/14
- Just listed – 3 BR 2.1 Bath Ranch in Cranford – 2/3/2014
- For sale – 100 homes in Cranford – 1/12/2014
- Sold! 65 South Union Street in Cranford is no longer available! 12/31/2013
- The Cranford Real Estate Market Report – 11/7/2013
- How’s Cranford’s real estate market? – 10/2013
- Cranford Real Estate Market Report – August 2013 – 08/15/13
- How does the Cranford Real Estate Market affect you? – 06/29/13
- 5 Simple Steps to Sell My Home in Cranford – 06/04/13
- Real Estate Market Report for Cranford, NJ for April, 2013 – 05/07/13
- How long will my Union County home be on the market? – 02/24/13
- Winter in Cranford’s real estate market – 02/23/13
- Cranford, NJ, Real Estate Market – 12/22/12
- What’s going on with the Cranford Real Estate Market? – 10/25/12
- How does the number of bath or beds affect market value in Cranford? – 10/12/12
- Free Market Analysis of Cranford, NJ – 07/30/12
- Cranford Marketing Report – 02/27/12