Happy New Year, Union County!
With the new year comes new data, and one of the most compelling numbers we’ve crunched this week has been the change in prices from 2012 to 2014.
County-wide, the average home in Union County sold for 3.9% more in 2014 than the average home in 2012. Not every town, however, saw an increase and some towns were bigger winners than others. Garwood is the biggest winner over the past 2 years – the average sale price of a home in Garwood increased by 40% from 2012 to 2014. Also on the winner’s board was Clark with a 16.3% increase. Mountainside saw a 14.7% increase in prices and Rahway is up by 14.5%. Fanwood home prices increased by 12.6% during this time period and Springfield increased by 9.9%. Lesser gains were seen by Westfield at 4/2%, Linden at 1.5% , and Union at 0.8%.
Three Union County towns saw decreases in home values when 2014 average home sales were compared to 2012. Cranford homes lost 0.5% value, Scotch Plains lost 1.8% value and Kenilworth comes in with the biggest loss of 9.4%.
What is your home worth? A home’s value is dependent on many things including location, condition, upgrades, and marketing. The average home in Union County in 2014 was sold for $403,443. In 2014, homes in Westfield were the highest valued homes in Union County. The average Westfield home that was sold in 2014 was sold for $711,933. Mountainside wasn’t far behind with an average price of $605,184. In the middle of the pack were Scotch Plains, Fanwood, Clark, and Springfield with average sale prices in the $400k range. Cranford, Garwood, and Kenilworth all had average sale prices in the $300k range and Union, Rahway, and Linden had average sale prices in the $200k range.
When you’re ready to buy or sell a Union County home, please contact us for more information!
- Union County Mid-Year Real Estate Report – 7/12/14
- Union County Mid-Year Real Estate Report – How fast are homes selling? 7/12/14
- 2013 End of Year Real Estate Report for Union County – 1/1/14
- What’s My Union County Home Worth?
- How Do Sellers Choose the Right Agent?
- Preparing Your Home to Sell
- PRIDE in Selling Your Home
- 3 Simple Steps To Selling Your Home Fast
- 4 Ways to Get Union County Homes to Sell Quicker!!