A great place to live and work

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.

cranfINVENTORYaug14

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.

cranfPRICESaug14

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.

cranfDOMaug14

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:

Advertisements

Comments on: "Cranford Real Estate Market Conditions – August, 2014" (1)

  1. […] Cranford Market Conditions – September 20, 2014 […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Tag Cloud

%d bloggers like this: