$10,000 Closing Credit*
$1,295,000
7 Beds
•3 Full Baths, 1 Partial
Listing Office: FREDERICK MARK REALTORS
Is Garwood, 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, Garwood was a Seller's Market.
Key Takeaway
Garwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Garwood, NJ
How much do homes in Garwood, NJ cost?
Median Sold Price
$655,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$115,000(+21.3%)
Key Takeaway
Homes in Garwood have sold for 21.3% 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 | $450K | $662.3K | +47.2% |
| 3 Bedrooms | $510K | $600K | +17.6% |
| 4 Bedrooms | $575K | $677.3K | +17.8% |
| 5+ Bedrooms | $960K | $685K | -28.6% |
Summary: Garwood 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 47.2%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes decreased by 28.6%.
Median Sold Price Compared To Nearby Cities
| Garwood | $540K | $655K | +21.3% |
| Westfield | $997.9K | $1.1M | +17.7% |
| Cranford | $660K | $739K | +12.0% |
| Cranford Township | $660K | $739K | +12.0% |
Housing Supply in Garwood, NJ
How many homes are available in Garwood, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Summary: The Garwood real estate market had 11 homes for sale in October 2024, a 26.7% decrease 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 | 4 | 3 | -25.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Garwood 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 decreased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was 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 1 homes were sold or pending in Garwood in October 2024, down by 80.0% month-over-month. Of the 1 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
