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May’s Real Estate Market was a busy one in Fanwood with 8 homes sold at a record high average sale price! Here’s what you need to know if you’re thinking of buying or selling a home in Fanwood:

Inventory – The 2014 Fanwood real estate inventory isn’t as high as we saw in 2013 which may drive prices up.  Currently, 41 homes are offered for sale.fanINVmay14

 

 

 

 

 

 

Prices – Driven  up by lower than normal inventory and by the typical spring/summer bounce, the average sale price in May in Fanwood was $551,050.

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Days on Market
 – Homes are selling quickly. The average home in Fanwood was sold after only 56 days on the market. While that is quick and a definite improvement compared to the 111 days we saw in March of 2014, compare it to May of 2013 when the average Days on Market was 38.

 

 

What does all this mean to you? 

If you’re buying a home in Fanwood, you have fewer homes to choose from and should expect to act fast once you find the right home for you. We’re seeing some bidding wars going on as multiple buyers find themselves making offers on the same home.

If you’re selling a home in Fanwood, this might be the best time to take advantage of the low inventory. Buyers are out looking in Fanwood and are willing to pay top dollar for homes that have been well maintained and are updated.

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:

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