cranford real estate market update - july 2014
TRANSCRIPT
How’s the Real Estate Market in Cranford?
July, 2014
If you're planning on buying or selling a home
in Cranford, the first step is to learn about the
Cranford real estate market conditions.
Inventory There are currently
70 homes offered for sale in Cranford and they range in price from $180,000 to $1,350,000.
0
20
40
60
80
100
120
140
Ho
me
s fo
r Sa
le
Active and Sold Listings - Cranford, NJ
0
20
40
60
80
100
120
140
Ho
me
s fo
r Sa
le
Active and Sold Listings - Cranford, NJ
Inventory
12 month avg= 94
July 2014 = 101
July 2013 = 123
July 2012 = 89
July ‘12
July ‘13
July ‘14
12 month avg
0
20
40
60
80
100
120
140
Ho
me
s fo
r Sa
le
Active and Sold Listings - Cranford, NJ
Inventory
12 month avg= 94
July 2014 = 101
July 2013 = 123
July 2012 = 89
July ‘12
July ‘13
July ‘14
12 month avg
* A decrease in supply often results in an increase in prices.
Prices
The average selling price of a home in Cranford in July was $461,294. 0
100000
200000
300000
400000
500000
600000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Pri
ce
Average Sales Price Vs. Average List Price - Cranford
0
100000
200000
300000
400000
500000
600000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Pri
ce
Average Sales Price Vs. Average List Price - Cranford
Prices
12 month avg = $417,605
July 2014 = $ 461,294
July 2013 = $440,001
July 2012 = $378,965
July ‘12July ‘13
July ‘14
0
100000
200000
300000
400000
500000
600000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Pri
ce
Average Sales Price Vs. Average List Price - Cranford
Prices
12 month avg = $417,605
July 2014 = $ 461,294
July 2013 = $440,001
July 2012 = $378,965
July ‘12July ‘13
July ‘14
* Definite upward trend in average sale price.
Days on Market
The average sold home in Cranford in July was sold after 36 days. 0
20
40
60
80
100
120
140
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Cranford, NJ
0
20
40
60
80
100
120
140
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Cranford, NJ
Days on Market
12 month avg = 49
July 2014 = 36
July 2013 = 46
July 2012 = 41July ‘12 July ‘13 July ‘14
0
20
40
60
80
100
120
140
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Cranford, NJ
Days on Market
12 month avg = 49
July 2014 = 36
July 2013 = 46
July 2012 = 41July ‘12 July ‘13 July ‘14
* Buyers are buying fast in Cranford!
What does this mean to you?
Prices are up, inventory is down, and homes are selling quickly!
If you’re planning to BUY a home, this might be a great time to get a deal!
If you’re planning to SELL a home, you need to make sure your home is in top showing condition and that it’s priced right so that it stands up to the competition!
