$7,588 Closing Credit*
$639,000
4 Beds
•2 Full Baths
Listing Office: WEICHERT REALTORS
Is Garwood, 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, Garwood was a Buyer's Market.
Key Takeaway
Garwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garwood, NJ
How much do homes in Garwood, NJ cost?
Median Sold Price
$663,650
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$118,650(+21.8%)
Key Takeaway
Homes in Garwood have sold for 21.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $658.6K | +46.4% |
| 3 Bedrooms | $510K | $632.5K | +24.0% |
| 4 Bedrooms | $583K | $701K | +20.2% |
| 5+ Bedrooms | $960K | $685K | -28.6% |
Summary: Garwood 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 46.4%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes decreased by 28.6%.
Median Sold Price Compared To Nearby Cities
| Garwood | $545K | $663.6K | +21.8% |
| Cranford Township | $665K | $750K | +12.8% |
| Cranford | $667K | $750K | +12.4% |
| Westfield | $1.0M | $1.1M | +12.2% |
Housing Supply in Garwood, NJ
How many homes are available in Garwood, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The Garwood real estate market had 13 homes for sale in November 2024, a 18.2% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Garwood 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Garwood in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Garwood, NJ
We’re sorry, we don't have information for this market at the moment
