Is Cedar Grove, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cedar Grove has remained a Buyer's Market.
Housing Prices in Cedar Grove, NJ
How much do homes in Cedar Grove, NJ cost?
Median Sold Price
$680,000
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cedar Grove was $680,000 in May 2024, up 5.4% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $252K | $265K | +5.2% |
2 Bedrooms | $562.5K | $535K | -4.9% |
3 Bedrooms | $615K | $630K | +2.4% |
4 Bedrooms | $690K | $775K | +12.3% |
5+ Bedrooms | $745K | $972.4K | +30.5% |
Summary: Cedar Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Cities
Verona Township | $595K | $665K | +11.8% |
Little Falls Township | $470K | $516K | +9.8% |
Cedar Grove | $645K | $680K | +5.4% |
Cedar Grove Township | $650K | $685K | +5.4% |
North Caldwell | $915K | $845K | -7.7% |
Housing Supply in Cedar Grove, NJ
How many homes are available in Cedar Grove, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 35 | +20.7% |
Summary: The Cedar Grove real estate market had 35 homes for sale in May 2024, a 20.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 14 | 16 | +14.3% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Cedar Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cedar Grove in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Cedar Grove, NJ
We’re sorry, we don't have information for this market at the moment