Cranford, NJ 07016 Real Estate Market Report

ZIP Code: 07016
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The neighborhood’s primary market-value signal is the median sold price: $749,000, which serves as the most reliable indicator of recent transaction levels and anchors local pricing expectations in a hot market despite a gap between the median listing price ($799,000) and the median sold price.

2. Transaction velocity appears slow: the median days on market is 291, which suggests slower sales velocity even as overall market temperature is characterized as hot; combined with moderate interest rate pressure, this may indicate pricing friction rather than rapid turnover.

3. Inventory dynamics in the analyzed sample point to elevated inventory relative to sales activity, which may be contributing to the observed spread between asking and final prices; the median price per square foot of $435 provides a firm valuation anchor for both sellers and buyers assessing price expectations.

4. Rental market signals are cooling: the median market rent is $2,650 and the rent year-over-year trend is down, indicating softening rent growth even though demand fundamentals noted in broader context may remain supportive.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Cranford, NJ 07016 Real Estate Market Report

ZIP Code: 07016
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The neighborhood's primary market indicator, the median sold price, is 364,500, signaling the representative recent sale level and anchoring valuation discussions while noting the broader price direction is down on a year‑over‑year basis.

2. Transaction velocity appears slower based on the median days on market of 275, which suggests reduced turnover and pricing friction that may require more deliberate pricing or marketing strategies to accelerate closings.

3. Market temperature is hot, indicating persistent buyer competition and a seller's advantage that may support aggressive listing strategies or limited seller concessions in the near term; treat this as a positive signal for capture of premium pricing where condition and location justify it.

4. Unit-level economics show a median price per square foot of 429 alongside a median market rent of 2,200, while rents are down year‑over‑year and interest rate pressure is assessed as moderate; investors and pricing teams should weigh softer rental trends and financing headwinds when modeling cashflow or setting aspirational asking prices.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.