Union Real Estate Prices

By Wayne Zuhl

Real Estate Agent with Remax First Realty II 0790808

February 20, 2014 09:38 PM

Union, NJ, is home to nearly 57,000 people. It occupies northern Union County in the area that was called Connecticut Farms in the 18th Century.

There are six primary (PreK-4) schools: Battle Hill School, Hannah Caldwell School, Connecticut Farms Elementary School, Franklin School, Livingston School, Washington School. Central Five-Jefferson School serves grade 5, and Burnet Middle School and Kawameeh Middle School serve grades 6 though 8. Union High School serves 2400 students in grades 9-12.

There are currently 241 homes offered for sale in Union. After a bit of a dip last month, the inventory has partially recovered but is still lower than it's been in years. Low inventory may bring higher prices - as demand out-buys supply, prices tend to rise.

Prices in Union took a bit of a dive this winter, so spring should bring a correction. The average sold home in Union in January was sold for $229,100, about 25% lower than January of 2013. As the temperatures rise in the spring, prices may rise as well. In the meantime, if you are selling a home, make sure you're list price is at or below market value to ensure that your home sells within a reasonable amount of time. Keep up with the maintenance of your home - don't let it look run down or outdated, or the value will drop and buyers will walk past.

Homes are taking longer to sell than they did last summer. In July, 2013, the average Days on Market was 71 days and in January, 2014, that number had increased to 113 days. If you want to buy a home, this may be the best time for you!