Why Live in Cedar Knolls
Cedar Knolls, located in Hanover Township, Morris County, is a desirable residential neighborhood known for its shaded streets and nearby parks. The area features a mix of housing styles, including hi-ranches, split-levels, Cape Cods, Tudors, and Colonials, with prices ranging from $420,000 to $1.7 million. New constructions, such as three-bedroom townhouses and centrally-located single-family homes, are also available. Cedar Knolls Plaza and Hanover Crossroads on East Hanover Avenue offer various retailers, grocery stores, and eateries. Downtown Morristown, just two miles away, provides additional dining, retail, and nightlife options, including popular spots like Azure, The Colonial Grill, and Enjou Chocolat. Local attractions include the 127-acre Frelinghuysen Arboretum, Malapardis Park, and the Morris County Golf Club. Nearby, Bee Meadow Park and Central Park offer extensive recreational facilities. Cedar Knolls shares highly rated public schools with Whippany, including Mountview Road School, Salem Drive School, Bee Meadow School, Memorial Junior High School, Whippany Park High School, and Hanover Park High School. The private Morristown Beard School is also an option. Major highways and NJ Transit’s Morris and Essex train line provide convenient access to Manhattan, 35 miles away, making Cedar Knolls a popular choice for commuting professionals. The neighborhood has a low crime risk compared to the national average, contributing to its appeal for families and long-term residents.
Frequently Asked Questions
What is the average home price in Cedar Knolls, NJ?
Homes for sale in Cedar Knolls, NJ have an average home price of $754,908.
How many homes have sold over the last 12 months in Cedar Knolls, NJ?
11 homes have sold in Cedar Knolls, NJ over the last 12 months.
What are the most popular zip codes in Cedar Knolls, NJ?
How much do you need to make to afford a house in Cedar Knolls?
The median home price in Cedar Knolls is $754,500. If you put a 20% down payment of $150,900 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $3,920 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $168K a year to afford the median home price in Cedar Knolls.
How are the schools in Cedar Knolls, NJ?
Home Trends in Cedar Knolls, NJ
On average, homes in Cedar Knolls, NJ sell after 23 days on the market compared to the national average of 50 days. The median sale price for homes in Cedar Knolls, NJ over the last 12 months is $810,000, up 60% from the median home sale price over the previous 12 months.
Median Sale Price
$810,000
Median Single Family Sale Price
$950,000
Median Townhouse Sale Price
$699,000
Median 2 Bedroom Sale Price
$450,000
Average Price Per Sq Ft
$345
Number of Homes for Sale
1
Last 12 months Home Sales
11
Median List Price
$754,500
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
60%
