Cranford remains one of the most sought after towns in Union County. Here’s what’s been happening in the Cranford real estate market this spring.
There were 75 homes offered for sale in Cranford in May and 22 homes were sold. Continued low inventory and high sales drives up prices.
The average sale price of a home sold in Cranford in May was $453,500, slightly lower than the 12 month average of $486,826. As inventory continues to shrink, it’s reasonable to expect that prices will go up.
Days on Market
The homes that were sold in May in Cranford had been on the market for an average of 42 days – faster than most of Union County.
What this means for buyers:
- Be educated. Learn what kind of home you want. Decide with your family members what you need in a home and what you want in a home.
- Be informed. Spend some time getting to know the inventory. Learn what homes look like in your price range. Learn what home features you can afford.
- Be ready. Have your pre-approval ready so that you can act quickly when you find your perfect home.
What this means for sellers:
- If you’re on the fence about selling your home, this may be the perfect opportunity to get the most money in the shortest amount of time.
- Even in a shrinking inventory situation, you’re still competing with other homes on the market. View the other homes that are offered for sale and make sure your home is the best one in its price range.
- Make your home available for potential buyers.
To read more about the real estate market in Cranford, please read our earlier market reports here. For more information on how Team Zuhl can help you, please call us at 908-917-4189.