Is Cedar Knolls, NJ 07927 a buyer’s or seller’s market?
Cedar Knolls is a seller’s market. With about 1.5 months of supply and 73% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
Not ranked this month. Fewer than 15 sales in the 3-month window, so the numbers can swing too much to compare fairly. How the heat score works
The Cedar Knolls housing market right now
In the three months ending August 31, 2026, 73% of homes in Cedar Knolls, NJ 07927 sold above their list price, the typical home went under contract in 22 days and there were 1.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 11 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 75%, homes sold faster (35 days then) and the median sale price fell 38% to $649,719. Overall, Cedar Knolls is about as competitive as it was a year ago.
Within Morris County, homes here sell more slowly than in 72% of the county’s ZIP codes, and sell more often over asking than in 65%.
Nearby, buyers who want less competition could look at Hibernia 07842 (0% sold over asking) or New Vernon 07976 (20% sold over asking), while Kenvil 07847 (100% sold over asking) and Mount Tabor 07878 (100% sold over asking) are even more competitive.
Run the numbers for 07927
Nearby markets
Boonton 07005Seller’s market $365 /sq ftBudd Lake 07828Seller’s market $325 /sq ftButler 07405Seller’s market $342 /sq ftChatham 07928Seller’s market $676 /sq ft Browse all markets →Towns like Cedar Knolls nearby
Find towns like Cedar Knolls in other states →Where Cedar Knolls is
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Questions about Cedar Knolls real estate
Is Cedar Knolls a buyer’s or seller’s market?
A seller’s market: there were 1.5 months of supply in Cedar Knolls, NJ 07927 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cedar Knolls?
The typical home went under contract in 22 days in the latest three months.
Do homes in Cedar Knolls sell over asking?
73% of homes sold above their original list price, and the typical sale closed at 104.3% of the list price.
What are property taxes in Cedar Knolls?
About 2.00% of a home’s value a year in Morris County, where towns range from 0.98% to 2.84%, or roughly $8,016 on a $400,000 home.
What is the median home price in Cedar Knolls?
The median sale price was $649,719 in the three months ending August 31, 2026, about $392 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology