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Posts tagged ‘sale’

Inventory is down in Rahway and Linden!

 Rahway  has had several revitalization projects in recent years. Its population is just over 27,000. Students in Rahway are served by Grover Cleveland School,  Franklin School, Madison School, and Roosevelt School, Rahway 7th & 8th Grade Academy for grades 7-8 and Rahway High School for grades 9-12.

The city of Linden, NJ is “Big enough to lead, small enough to care,” and about 41,000 people call it home. Public school students in Linden are served by the Linden Public School system with eight elementary schools, McManus and Joseph E. Soehl Middle Schools, and Linden High School. Linden homeowners enjoy one of the lowest tax rates in Union County.

There are currently 274 homes offered for sale in Rahway and Linden.  While this might seem like plenty of homes, it’s actually the lowest inventory Rahway and Linden have seen in more than 2 years. Low inventory nearly always results in an increase in prices as supply is lower than demand.

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And that is exactly what we’re seeing with the sale prices of homes sold in January in Rahway and Linden. The average sale price was $230,274, nearly 19% higher than January of 2012.

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The average sold home in Rahway and Linden in January was sold after 111 days on the market. Still higher than most of Union County, this is still significantly faster than we’ve seen historically in Linden and Rahway. Especially considering that January is typically a slow month in real estate in New Jersey, it’s good news that homes are still selling and selling faster.

 

If you’re interested in buying a home in Linden or Rahway,  click here to see all of the homes currently on the market. If you’re interested in finding out what your Linden or Rahway home is worth, find out here. If we can help you along the way, email us at teamzuhl@gmail.com or call us at 908-917-4189!

For more information on selling a home:

For more information on the Real Estate in Rahway and Linden:

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2013 End of Year Real Estate Market Report for Union County

Union County home buyers and sellers – here is the 2013 year end real estate market report! 

Let’s begin by comparing the average sale price in the various towns of Union County through 2012 and 2013. 

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It’s obvious that Westfield has the highest sale price of the county – and has for many years – and Rahway and Linden make up the homes with the lowest sale price. It’s also obvious that there are a wide variety of homes in Union County and there is something for nearly every budget! The middle towns – Springfield, Clark, Cranford, Kenilworth, and Fanwood – have homes that fall in the middle of the pack with average prices in the $330-$430,000 range.

 

When we combine these two graphs together, however, a new picture emerges.

Here we see 2012 average sale prices in the blue and 2013 sale prices in the orange. Homes on the more expensive end of the spectrum seem to have increased the most and homes on the lower end of the spectrum seem to have increased the least.

 

 

 

 

Less obvious, however, are the two towns that actually lost market value in 2013 – Kenilworth and Springfield each showed a decrease in average home sale from 2012 to 2013. Are they the best kept secret bargains of Union County? Also less obvious is Scotch Plains – while prices are among the highest in Union County, they increased only a little from 2012 to 2013. Will 2014 be the year that Scotch Plains home values catch up with the other similar towns, or will Scotch Plains remain a more affordable option?

For more information on an individual town, please read the most recent market reports below:

Beautiful Union Home for sale!

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Team Zuhl and Hallmark Realtors are proud to present

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1937 Arbor Lane, Union

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This beautifully finished home features an in-law suite, gorgeous hardwood floors, fireplace, large kitchen, and tons of storage.

  • 5 bedrooms
  • 2 full baths, 1 half bath
  • large eat in kitchen
  • second kitchen upstairs
  • large property – 57′ x 145′
  • fenced yard
  • offered for $329,900

Call Wayne at 908-917-4189 to see this home!

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