While reviewing the MLS this morning, I couldn't help but notice that there are now 100 homes active on the MLS for sale in Cranford NJ. This number has consistently risen over the past few months, but don't be mislead into believing that this means the market is stalled, or homes aren't selling.
Upon more detailed analysis of the numbers, homes that are priced between 400K and 500K are flying off the market if priced properly. This can be attributed to still favorable interest rates, and sellers in this range pricing under 500K, instead of pushing the envelope too high on their asking price. I have seen multiple offer scenarios quite frequently, as I have blogged on before.
On the contrary, the homes priced above 550K, especially those above 600K, are taking longer to sell, and are averaging a higher days on market.
Keep checking back for more updates on the Cranford NJ Real Estate Market.
Thanks for reading.
Sean Carroll - Realtor, Team Leader
"Team Carroll" - Real Estate Professionals
RE/MAX Classic Group
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