$8,016 Closing Credit*
$675,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: FERREIRA REALTY & ASSOCIATES
Is Cedar Knolls, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Cedar Knolls was a Neutral Market.
Key Takeaway
Cedar Knolls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cedar Knolls, NJ
How much do homes in Cedar Knolls, NJ cost?
Median Sold Price
$572,500
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$77,405(+15.6%)
Key Takeaway
Homes in Cedar Knolls have sold for 15.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | $435.5K | +7.5% |
| 3 Bedrooms | $567.5K | $528.5K | -6.9% |
| 4 Bedrooms | $782.5K | $700K | -10.5% |
| 5+ Bedrooms | $1.1M | $1.2M | +8.2% |
Summary: Cedar Knolls housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Parsippany-Troy Hills Township | $564.5K | $655K | +16.0% |
| Cedar Knolls | $495K | $572.5K | +15.6% |
| Hanover Township | $580K | $650K | +12.1% |
| Whippany | $596K | $651.8K | +9.4% |
| Morris Township | $770K | $835K | +8.4% |
Housing Supply in Cedar Knolls, NJ
How many homes are available in Cedar Knolls, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Summary: The Cedar Knolls real estate market had 6 homes for sale in October 2024, a 20.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Cedar Knolls housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Knolls, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Cedar Knolls in October 2024, up by 100.0% 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 Knolls, NJ
We’re sorry, we don't have information for this market at the moment
