Rahway Market Trends

By
Real Estate Agent with Samsel & Associates 0790808
https://activerain.com/droplet/xRn

File:Rahway nj 039.pngRahway, NJ, is a city in southern Union County, about a 15 mile commute from Manhattan. File:Rahway-njt.jpgNew Jersey Transit provides a direct train line from Rahway to New York on the North East Corridor Line. 26,000 people live in Rahway. 30% of all households in Rahway have one or more children in school. Rahway Public Schools consist of four PreK-5 elementary schools — Grover Cleveland School, Franklin School, Madison School, and Roosevelt School. Grades 6-8 attend Rahway Middle School and grades 9-12 attend Rahway High School.

The area was once the home of the Lenni Lenape Native Americans and the city of File:RVRR Bridge Over The Rahway River.jpgRahway itself was named for a local tribal chief.

Rahway River Park is one of ten parks in Rahway. It contains several baseball fields with lots of picnic areas and a lake and public pool. The Rahway River travels through Rahway, entering from Clark at Rahway River Park and flows into the Arthur Kill.

On April 23, 1789 George Washington visited Rahway on his way to New York City.  Abraham Clark a signer of the Declaration of Independence is buried in Rahway.  Rahway is also the birthplace of two current United States Representatives.  Maryland Rep. Wayne Gilchrest and New Jersey Rep. Chris Smith were both born in Rahway.

Rahway also has some claims to scientific fame.  The late noted astronomer and television personality Carl Sagan was raised in Rahway and was a graduate of Rahway High School.  Famous inventor Nikola Tesla formed his company Tesla Electric Light & Manufacturing in Rahway.

Current Nose Tackle for the San Diego Chargers, Antonio Garay was also born in Rahway.

  

The Apsorption Rate is a measure of how long it will take to sell the current inventory if no new homes come on the market.  Typically when the Absorption Rate is 5 months or less, we refer to this as a Seller's Market.  From 6-8 months, we call this a Normal Market and anything 9 months or longer is a Buyer's Market.

Looking at current trends the housing market in Rahway is seeing some positive movement.  Most of this is due to the revitalization of the downtown area.  Currently the inventory in town is the lowest it has been in several years, but this will most likely change in a few months when the shadow inventory hits and the market will be flooded with bank owned properties.  This will drive prices down even further in town.  So if you're planning on selling do it sooner rather than later.  Buying is a great opportunity in Rahway right now.

Posted by

 

 

 

~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

facebook  Pinterest  LinkedIn  Read Our Blog!

All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
New Jersey Union County Rahway
Groups:
2013MarketReports
Tags:
schools
parks
market report
union county
rahway
lenni lenape indians

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
971,111
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

I learned something new today and I liked your chart... Never had a clue that Rahway was so close to Manhattan

Mar 25, 2012 05:27 AM #1
Rainer
98,725
Michael Maynard
New Neighbors Realty - Milford, CT
"Welcome Home!"

I enevr knew Rahway was that close either.

Mar 25, 2012 05:35 AM #2
Rainmaker
503,019
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Wayne & Jean Marie - Thanks for the history lesson and the market report for Rahway... things look better now, with the best absorbtion rate in years, but time will tell with new listings coming on the market.

Mar 26, 2012 02:14 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,273,342

Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
Want more information about Union County real estate?
*
*
*
*
Spam prevention

Additional Information