Cranford NJ NewsLocal Real Estate Market July 9, 2023

The June 2023 Real Estate Market in Cranford NJ

The Real Estate Market in Cranford is hitting Summer Peak with continued strong numbers for June.   Twenty eight homes sold in Cranford in June, which was 86% more than the previous month’s trend.  Prices continue to rise and homes continue to sell in record time for significantly over List Price, driven by continued lean inventory.  The average sales price for the month jumped to $771K which was +15% to May and +9% to last June.

The Sales Price vs List price ratio was 108%.  This means that homes sold, on average, for 8% over list price which is in line with last year and last month. Homes are also selling very quickly, in an average of only 13 days. 

We continue to see more homes selling for over a Million dollars with four selling this month.  Another notable home sale was 9 Pittsfield which sold for $200K over list price at $999,000. There were multiple other homes that sold for more that $100K over list price.

There are no signs of this market slowing down anytime soon. As long as inventory remains lean, home prices will continue to rise which is a huge opportunity for Sellers.  If you are interested in learning what your home may be worth in today’s market, let’s connectI would be happy to provide you with a complimentary CMA.

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