West Essex at a Glance

Market Reports for Cedar Grove, New Jersey and Verona, New Jersey

October 2009

Cedar Grove, New Jersey Market Report for October 2009:   

• Active Listings: 60                                                
• Under Contracts in October:  12                                           
• Solds in October:  9
• Months Supply on the Market:   5
• Absorption ratio: 20% (only 20% of the total inventory went U/C in October, leaving 80% of the inventory unsold)

The market stats in the chart above above also reflect:

• New Listings for the month of October:  15
• Total properties Under Contract (including those u/c through the end of October): 18

There is currently one multi-family under contract and no active multi-family homes on the market in Cedar Grove. 

Verona, New Jersey Market Report for October 2009:   

• Active Listings: 82                                                
• Under Contracts in October:  8                                           
• Solds in October:  23
• Months Supply on the Market:   10.25
• Absorption ratio: 10% (only 10% of the total inventory went U/C in October, leaving 90% of the inventory unsold)

The market stats in the chart above above also reflect:

• New Listings for the month of October:  15
• Total properties Under Contract (including those u/c through the end of October): 22

There are currently two multi-family homes on the market in Verona. 

Read about the Communities within West Essex

Unlike the other six West Essex Communities, Verona and Cedar Grove are much more independent to themselves.  Both towns each have their own school system for both grammar and high school levels.  Their combined population is approximately 26,000 and cover a combined area of roughly 7 miles. 

Search for homes for sale in Cedar Grove, New Jersey.  Search for homes for sale in Verona, New Jersey.  

View Market Stats for West Essex Community for October 2009  , as a whole.

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