Real Estate Market Report for Cranford, NJ for April, 2013
Cranford, NJ, is a lovely town in central Union County and is home to roughly 23,000 people. Cranford High School has consistently ranked in the top schools in the Country and State.
Looking at the housing inventory in Cranford, it's plain to see that the low inventory days are ending. There has been a 27% increase in inventory since January and a 17% increase in inventory in April 2013 as compared to April 2012.
With an increase in inventory, prices typically drop, and that's exactly what is being seen in Cranford this spring. The average sale price in April of 2013 was 5% lower than the average sale price in March of 2013, 17% lower than the average sale price in December of 2012, and 21% lower than the average sale price of April 2012.
The good news for homeowners in Cranford is that homes are selling quickly. The average home in Cranford sold in 48 days in April, as compared to 124 days in January of 2013 and 65 days in April of 2012.
Cranford, NJ, is a beautiful town with beautiful homes. If you're interested in buying or selling a home in Cranford, give us a call for a free market analysis. We can give you information on other homes like yours that have sold in Cranford, and make a reasonable estimate of market value.
For more information on Cranford Real Estate:
Winter in Cranford's real estate market - 02/23/13
Cranford, NJ, Real Estate Market - 12/22/12
Free Market Analysis of Cranford, NJ - 07/30/12
Cranford Marketing Report - 02/27/12