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Fanwood, NJ, real estate market report

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Inventory: There are currently 33 single family homes offered for sale in Fanwood, representing about 50% increase in inventory over February of 2014. The average list price of homes currently offered for sale in Fanwood is $454,803. Five homes were sold in March.

Prices: The average sale price of a home in Fanwood in March was $390,500. 

 

 

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

Fanwood Real Estate Market Update – Feb, 2014

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

Fanwood Real Estate Market Report

The borough of Fanwood, NJ is home to just under 7500 people. Students in Fanwood are served by the  Scotch Plains-Fanwood Regional School District. The Fanwood station is a New Jersey Transit railroad station on the Raritan Valley Line, making Fanwood a convenient home for commuters to NYC.

 

Currently, there are 14 homes offered for sale in Fanwood. Inventory in Fanwood tends to be cyclical – higher in the spring and summer, and lower in the fall and winter. This January’s inventory is, however, the lowest inventory seen in Fanwood for several years. 

How will this affect prices? A lower inventory usually drives prices up as supply isn’t sufficient to meet demand.

 

The average sale price of a home in Fanwood was $369,250 in January. This is slightly lower than recent months. It’s reasonable to expect that prices will increase in the spring when the demand increases.

 

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

The Fanwood Real Estate Market Update

The borough of Fanwood, NJ is home to just under 7500 people. Students in Fanwood are served by the  Scotch Plains-Fanwood Regional School District. The Fanwood station is a New Jersey Transit railroad station on the Raritan Valley Line, making Fanwood a convenient home for commuters to NYC.

 

Inventory is down in Fanwood. There are currently 17 single family homes offered for sale  in Fanwood, ranging in price from $199,000 to $770,000. Eight homes have sold so far in January, compared to the total of 5 homes sold during the entire month of December.  While inventory has shrunk (25 active listings a month ago, 32 listings a year ago), sales have been brisk. Eight homes have sold so far in January, compared to the total of 5 homes sold during the entire month of December. 

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As you might anticipate, the average days on market of homes sold in Fanwood is very low. The county average days on market in 2013 was 74 days. The 2013 average for Fanwood was only 56 days and the December average was 46 days.

 

 

With homes selling this quickly in Fanwood, how are prices affected? The average sale price in Fanwood in December was $415,600. The average sale price in December of 2012was $405,000 and the average in all of 2013 was $427,709.  This is about average for Union County.

 

 

 

 

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

The Fanwood Real Estate Market Report

The borough of Fanwood, NJ is home to just under 7500 people. Students in Fanwood are served by the  Scotch Plains-Fanwood Regional School DistrictThe Fanwood station is a New Jersey Transit railroad station on the Raritan Valley Line, making Fanwood a convenient home for commuters to NYC.

 

Homes in Fanwood continue to sell quickly. The average home that sold in Fanwood in November sold in 52 days, quicker than the 73 days it took in October.

 

The inventory in Fanwood has dropped from 47 homes offered for sale in June to only 32 homes offered for sale in November. To browse the homes that are for sale in Fanwood today, please click here. Five homes sold in November, compared to 10 homes that sold in October. Over 2013, an average of 6.25 homes sold per month, compared to an average of 5.9 homes sold per month in 2012.

 

Prices in Fanwood remain strong. The average sold home in Fanwood in November was sold for $405,380. The average home sale in Fanwood in 2013 was $425,825, 10% higher than the average of $386,777 in 2012.

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

 

For more information on selling a home:

For more information on Fanwood Real Estate:

The Fanwood, NJ, Real Estate Market Report

Thinking about buying or selling a home in Fanwood? Here’s everything you need to know.

Fanwood is a small town, home to about 7000 people, in Union County. There are currently 29 homes offered for sale in Fanwood - a lower inventory than Fanwood has seen in 2 years. Eight homes sold in Fanwood in October – 10% less than sold during the summer months, but significantly better than the one home that sold in October of 2012. 

Prices in Fanwood remain strong. The average home that sold in Fanwood was listed for $456,845 and sold for $432,413. There has been no measurable drop in prices since autumn set in, and prices have been strong since summer of 2012. 

One of the reasons prices remain strong in Fanwood is the eagerness of buyers to purchase homes. The average home in Fanwood sells after less than 2 months on the market – significantly faster than most of Union County. Aside from a slow winter last year, Fanwood homes sell quickly.

 

For more information on selling a home:

 

For more information on Fanwood Real Estate:

- See more at: http://activerain.com/blogsview/4244234/the-fanwood-real-estate-market-report#sthash.4KZyiYaA.dpuf

Fanwood’s Real Estate Market Update

Fanwood is a small but lovely town in Union County and is home to about 7000 people. The real estate market in Fanwood continues to be robust, and buyers and sellers are wise to do some market research in order to make decisions about their property. Here are some statistics from the Fanwood real estate market to help buyers and sellers as they navigate the real estate waters.

For starters, there are 30 homes currently offered for sale in Fanwood.  This is the lowest inventory Fanwood has seen in quite some time – how that affects prices will remain to be seen.

fanwood active and sold

Homes in Fanwood continue to sell close to list price. The average home sold in Fanwood in September sold for $436,786 and was listed for $439,527, indicating that buyers are still finding Fanwood to be a desirable place to call home.

fanwood sale price and list price

The average home that sold in Fanwood in September was on the market for only 42 days. This is significantly faster than most other parts of Union County.

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For more information on Fanwood Real Estate:

Mid-Year Real Estate Market Reports for Union County

When you’re considering buying or selling a home in Union County, you need the most up-to-date information about sales prices and inventory.  Here are the latest market reports for the towns in Union County:

When you’re ready to buy or sell a home in Union County, call Team Zuhl!

Summer Reading

Summer is half over.

While you’re enjoying the sun and sand and warm nights, don’t forget that students have summer reading to do. Here’s a roundup of all the summer reading for Union County students:

Real Estate Inventory – Summer, 2013

Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past.

A Months of Supply of 5 months is considered average – buyers and sellers are about equal in the area and homes are being bought at about the same rate that they are being put on the market.

A Months of Supply of less than 5 months is what real estate professionals often call a “seller’s market.” This means that there are more buyers than sellers in the area and homes are selling quicker than they are being put on the market. Typically, this increases prices.

A Months of Supply of greater than 5 months is what real estate professionals call a “buyer’s market.” This means that there are more sellers than buyers in the area and homes are sitting unsold for a while. Typically, this decreases prices.

How is your town doing? Here’s the latest data:

kenilworth months supply

garwood months supply

linden months of supply

mountainside months of supply

union months supply

fanwood  months supply

rahway months of supply

westfield months supply

What does all this mean to you as a buyer or a seller?

The only town where there is a true seller’s market is Fanwood. There are more buyers looking to buy homes in Fanwood than there are homes for sale. Buyers are experiencing competition.

Mountainside is nearly a normal market with only slightly more sellers than buyers.

Garwood and Westfield had seller’s markets earlier in the year, but increased inventory without a corresponding increase in buyers has resulted in a buyer’s market.

The other towns in Union County are all experiencing strong buyer’s market. Homes there are priced low and sellers are experiencing competition.

For more information on how this affects you, contact us for a complimentary consultation.

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