2024 Cranford Real Estate Market: What Buyers and Sellers Need to Know

The Cranford Real Estate market in 2024 has been exciting, competitive, and full of opportunity for both buyers and sellers. As someone who lives and breathes real estate in this community, I’m here to break down the big trends and explain what they mean for you.

Home Prices Keep Climbing

Home prices in Cranford are still on the rise, with the average jumping to $762,762 — that’s 10% higher than last year. The main reason? There just aren’t enough homes available, which is keeping competition fierce and driving up prices. If you’re a seller, that’s great news. If you’re a buyer, it’s a reminder to stay sharp and ready to move fast.

Fewer Homes Sold, But the Market’s Still Strong

This year, 181 homes were sold in Cranford — that’s down 11% from the 203 sold in 2023. Even with fewer sales, the market is still showing a lot of strength.

A standout stat? 25 homes sold for over $1 million, making up 14% of total sales. Compare that to last year’s 9%, and it’s clear that high-end homes are becoming more popular here.

Homes Selling for Over Asking

One thing that hasn’t changed is the bidding wars. On average, homes sold for 106% of their list price — meaning buyers are willing to go above and beyond to secure the right home.

Check out these crazy stats:

• 77% of homes (139 properties) sold for over the asking price.
• 5% (7 homes) sold for 20% or more over list price.
• 30% (55 homes) sold for 10% or more over list price.
• 31 homes went for $100,000 or more above asking price.

These numbers show just how competitive things have been — and why it’s so important to have a good strategy whether you’re buying or selling.

What This Means for Buyers and Sellers

If you’re thinking about selling, this is your moment. Buyers are still out there and ready to pay top dollar, so it’s a great time to list your home.

If you’re on the buying side, don’t worry — you’re not out of luck. It just means you need to be ready to act quickly and work with someone who knows how to navigate this market.   Make sure to check out my latest Market reports and sign up for The Weekly Local for regular updates!

How I Can Help

Whether you’re buying or selling in the Cranford area, I’m here to help make the process easier (and maybe even a little fun). From setting the right price to crafting winning offers, I make sure my clients have the tools they need to succeed. Let’s chat about your goals and how I can help you make the most of 2024.

If you’re curious about what your home might be worth or want to know what’s on the market, reach out! Things are moving fast, and I’m here to help you stay ahead of the game.