Slow Improvement in Kenilworth's Real Estate Market

By Wayne Zuhl

Real Estate Agent with Remax First Realty II 0790808

June 23, 2014 05:42 AM

Home buyers and sellers in Kenilworth need to know market conditions before they make any decisions. Here's what you need to know this month.

Inventory: The inventory in Kenilworth remains low for spring with only 41 homes offered for sale - the average this time of year is closer to 45.

What does this mean to you? Buyers are eager to get into their new homes before the end of summer and are ready to look at your house!

Homeowners in Kenilworth who are considering selling their home might not find a stronger market. As the inventory continues to be low, prices are likely to increase.

Prices: We are seeing an slight increase in prices in Kenilworth, but the spring market has been sluggish. May's average sale price was $316,000, only 6% higher than April and 11% below the average last May of $361,942.

What does this mean to you? Homeowners can increase their home's value by making sure that the home is in tip top showing condition and that all routine maintenance has been completed. Another way to increase your home's value is to make upgrades that buyers are looking for - updated kitchens and baths always top the list.

Days on Market:

The average home in Kenilworth was sold after 59 days on the market. Homes typically sell the fastest in the summer and the slowest in the winter.

What does this mean to you?

Homes that are priced well and that show well are likely to sell the quickest. Contact us to be sure that you're priced competitively.

If you're interested in purchasing a home in Kenilworth or the surrounding area, please see a complete list of homes at www.WayneZuhl.com. If you're planning to sell your Kenilworth home, please call us at 908-917-4189 for a free comparative market analysis of your home.

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