Rahway Real Estate Market Report - August 2013

By
Real Estate Agent with Samsel & Associates 0790808

 Rahway, NJ  is home to nearly 28,000 people.  The area was once the home of the Lenni Lenape Native Americans and the city was named for a local tribal chief whose name was Rahwack. The corner of St. Georges Avenue and Westfield Avenue  was the site where George Washington met troops from Elizabeth and Newark during the Revolutionary War.  

Rahway public school children are served by four elementary schools, Rahway 7th and 8th grade Academy and Rahway High School.

 

There are currently 201 homes listed for sale in Rahway and 15 homes sold in July. The average home sold for $226,540 in July after 80 days on the market.

You can see in the graph below that the average sale price of homes in Rahway has increased this summer and is currently higher than it has been in 18 months. 

 

 

 

 

 

The months supply in Rahway remains high. Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past. While improving, the inventory in Rahway continues to be high. There is a very strong "buyer's market" in Rahway because there are more sellers than buyers in the area and homes are sitting unsold for a while. Typically, this decreases prices. 

 

 

 

Team Zuhl is here to help you every step of the way. Please call or email us when you're ready to get your home on the market! Good luck!

 

For more information on selling a home:

For more information on Rahway Real Estate:

How does the Months Supply in Rahway affect sellers? - 07/10/13

 Sell my home in Rahway! - 07/02/13

Rahway Real Estate Market Report - April, 2013 - 05/27/13

Rahway, NJ - A brief historical look - 03/04/13

Rahway Real Estate Market Report - January-March, 2013 - 04/05/13

How long will my Union County home be on the market? - 02/24/13

The Winter Real Estate Market in Rahway - 02/23/13

Buying or Selling a Home in Rahway, NJ - 01/12/13

How do additional bathrooms or bedrooms affect market value in Rahway? - 10/15/12 

Free Market Report of Rahway Homes! - 08/13/12

Rahway Market Trends - 03/25/12

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~ 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.

 

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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. 

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Topic:
Real Estate Market Trends
Location:
New Jersey Union County Rahway
Tags:
buying a home
selling a home
market report
buyers market
sellers market
real estate
rahway
months of supply

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Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wayne & Jean, great market report for Rahway, and love the history behind this City.     Buyers would be wise to contact you before starting their journey is the purchase of a home in Rahway!

Aug 05, 2013 12:20 AM #1
Rainmaker
1,515,862
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Ashburn, VA
Alexandria Virginia Homes For Sale

Wayne and Jean, nice job on your Rahway market report. I like your chart, it's concise and easy to understand.

Aug 05, 2013 04:05 AM #2
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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