$8,549 Closing Credit*
$719,900
3 Beds
•2 Full Baths
Justin Kiliszek, Listing Office: Keller Williams Mid-Town Direct Realty, LLC
Is Cedar Grove, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Cedar Grove was a Seller's Market.
Key Takeaway
Cedar Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cedar Grove, NJ
How much do homes in Cedar Grove, NJ cost?
Median Sold Price
$750,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$90,250(+13.7%)
Key Takeaway
Homes in Cedar Grove have sold for 13.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $289K | N/A |
| 2 Bedrooms | $495K | $620.5K | +25.4% |
| 3 Bedrooms | $630K | $695K | +10.3% |
| 4 Bedrooms | $745.9K | $905.3K | +21.4% |
| 5+ Bedrooms | $805K | $1.1M | +46.0% |
Summary: Cedar Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.4%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 46%.
Median Sold Price Compared To Nearby Cities
| North Caldwell | $837.5K | $975K | +16.4% |
| Verona Township | $615K | $700K | +13.8% |
| Cedar Grove | $659.7K | $750K | +13.7% |
| Cedar Grove Township | $662.6K | $750K | +13.2% |
| Little Falls Township | $505K | $509K | +0.8% |
Housing Supply in Cedar Grove, NJ
How many homes are available in Cedar Grove, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 36 | +12.5% |
Summary: The Cedar Grove real estate market had 36 homes for sale in November 2024, a 12.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Cedar Grove housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Grove, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Cedar Grove in November 2024, down by 44.4% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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
