Real Estate Market Conditions for Garwood, NJ

The real estate market in Garwood, NJ has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs from one year ago. There are currently 21 single family homes and 2 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with a fairly equal number of closed sales and new listings. However, much like other parts of New Jersey and the United States, housing inventory levels are higher than prior years, giving buyers more options when selecting a home.

Because Garwood is such a small town, with far fewer listings than surrounding towns, it is difficult to study month by month market movement. The median home sales price for the past 5 months in Garwood is about $409,000, with the lowest price at $300,000 and the highest price of $650,000.

I expect the gradual price softening trend to continue for the next several months, with buyers willing to pay a fair price for homes, and disregarding homes that are priced considerably above market value.

About Garwood, NJ

Garwood, New Jersey is a suburban community located approximately 25 miles southwest of New York City. With a balanced mix of residential areas, retail stores and manufacturing businesses in its .75 square miles, the borough of Garwood has approximately 4200 residents.

Most of the streets on the north side of town are numbered, 2nd, 3rd, 4th and 5th Avenues (there is no 1st); while on the south side they are named after trees, Willow, Hickory, Beech, Pine, Myrtle and Spruce.

The town is bordered by Cranford to the east, Westfield to the West, and Clark to the south. Garwood is located on the Raritan Valley Train Line of NJ Transit, and commuters can reach New York City via transfer at Newark Penn Station.

Garwood school district is a K-8 district, and high school students attend A.L. Johnson High School in Clark, NJ.

For more information about Garwood, NJ, logon to the borough's website at:

http://www.Garwood.org