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Fanwood Real Estate Market Report - June 2018
Homeowners and home buyers in Fanwood are smart to learn about the real estate market to help make an informed decision about when to buy and sell a home in Fanwood .
Here’s what’s been happening lately.
Inventory:
4 homes were sold in Fanwood in May - compared to 10 in May, 2017. 44 homes were offered for sale in Fanwood in May - compared to 40 in May of 2017. As inventory shrinks, demand for homes usually increases. This can help to increase prices and/or decrease the length of time homes are on the market.
Prices:
Average sale price in Fanwood in May as $560,750 - compare to the 12 month average of $484,548. Average list price in Fanwood in May was $516,375 - compare to the 12 month average of $486,927. Consumer confidence helps increase prices. Fanwood remains one of the hottest communities in Union County and we predict that prices will increase this winter.
Days on Market:
In May, the average sold home in Fanwood was on the market for 33 days - compared to the 12 month average of 38 days. Shorter Days on Market is typical in the spring. The Days on Market statistic for Fanwood is also ... more

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