Cedar Grove is much more than an average NYC suburb. While Cedar Grove properties are not sold by dozens, the town is one of the more beautiful places to live for all those willing to work in the New York City, but doing their best to increase their families living standard for a moderate cost. Cedar Grove is located in the Essex county, among the Watchung Mountains. The town lies less than twenty miles from the New York City - far enough to get away from the cities tiresome traffic and noise, but close enough to let people drive to work relatively fast. Its picturesque parks and street trees caused Star Ledger to call Cedar Grove "beautiful suburbia" and added a few per cent to the value of Cedar Grove properties.

Though Cedar Grove is relatively small community (12,300 inhabitants in 2000, according to the US Census Bureau), it Grove offers all necessary public services. They include several kindergartens, two elementary schools, a middle school and a high school.

The nationwide slowdown on the real estate market strongly affected Cedar Grove property prices and sale rate. While the town is certainly not in the worst situation, the time an average property spends on a market is getting longer and longer. Cedar Grove properties in May spent on average 86 days in the market. It is a drastic increase - in April houses spent only 77 days on sale before they actually got sold. Also the number of sales a month is not encouraging, with only 4 houses sold in May compared to 8 in April. Cedar Grove real estate market is clearly the buyer's market now.

The prices of Cedar Grove properties start at a little above $250,000 for a condo in the city centre. The average asking price is however, much higher and reaches $865,000 (though most properties are sold for about 15% less). While this may indicate that the sellers are finally starting to lower their prices, it is still unclear whether this is a beginning of a new trend or just a random change in prices. It is hard to talk about the statistics when there were only a few houses sold in a month.

Despite the current situation, buying one of Cedar Grove properties now may still be a wise decision. Why is that? New York City metropolitan area is one of the fastest-growing metropolitan areas in the United States. It is predicted than in the next eight years the number of first-time home buyers will be steadily growing and some of them will choose to buy one of Cedar Grove properties. This makes a long-term trend clear - despite the existence of the buyer's market, any substantial fall of property prices is very unlikely. What is more, in a few years the prices may rise to much higher levels. However hard and expensive it might be, the time for buying Cedar Grove properties is now.

Hello, my name is Rob West. I am an expert for Real Estate in the United States. I hope you will find this article about Cedar Grove Properties useful.

Source: www.isnare.com