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Before you buy or sell a home in Fanwood, your first step is to understand how the real estate market is performing. Here’s what you need to know this summer.


INVENTORY
: There are currently 49 single family homes offered for sale in Fanwood. It’s evident in examining this graph that inventory increases every summer and decreases in the winter in Fanwood. There were 8 homes sold in Fanwood in June.

fanwoodINVjune2015
PRICES:
The average home sold in Fanwood in June was sold for $452,750 which is about 3% higher than the 12 month average of $440,209. The average sale price in June of the past several years is shown in this graph in green. It’s evident that the trend is upward, and June 2015 saw averages about 14% higher than June of 2012.

fanwoodPRICESjune2015

Fanwood sellers who want to get top dollar for their home will want to be sure that their marketing is on point and that their home is appropriately priced. Buyers who are looking for a bargain in Fanwood will want to do their research. When you find the home you want to buy, be sure that your offer is competitive because there are many multiple offer situations this summer.

DAYS ON MARKET:

fanwoodDOMjune2015

The average home in Fanwood was sold after 24 days. This is the fastest sale rate seen in Fanwood since June of 2013. Summers typically have a lower Days on Market in Fanwood and in all of Union County. Home sellers who are interested in selling their property quickly will need to be sure that the home is priced correctly. Overpriced homes sell much more slowly, if they sell at all. Condition also affects the speed at which a home will sell. Homes that are cleaner, more up to date, and in better condition will sell faster than others.

If you are a buyer or a seller interested in a home in Fanwood, please call Team Zuhl! We’re happy to help you in all of your real estate needs!

For more information on selling a home

For more information on Fanwood Real Estate:

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Comments on: "Buying or Selling a Home in Fanwood – July 2015" (2)

  1. […] Buying or Selling a Home in Fanwood – July 2015 […]

  2. […] Buying or Selling a Home in Fanwood – July 2015 […]

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