Fanwood Real Estate Market Report - June 2018

By
Real Estate Agent with Samsel & Associates 0790808

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 affected dramatically by one or two homes selling unusually quickly or slowly.

What this means for buyers:

  • Be educated. Learn what kind of home you want. Decide with your family members what you need in a home and what you want in a home.
  • Be informed. Spend some time getting to know the inventory. Learn what homes look like in your price range. Learn what home features you can afford.
  • Be ready. Have your pre-approval ready so that you can act quickly when you find your perfect home.

What this means for sellers:

  • If you're on the fence about selling your home, this may be the perfect opportunity to get the most money in the shortest amount of time.
  • Even in a shrinking inventory situation, you're still competing with other homes on the market. View the other homes that are offered for sale and make sure your home is the best one in its price range.
  • Make your home available for potential buyers.

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Fanwood offers excellent schools and a convenient commute to New York City. To see earlier market reports of Fanwood, please click here. If you’re thinking of buying or selling a Fanwood home, please call us at 908-917-4189.

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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:
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New Jersey Union County Fanwood
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buying a home in fanwood
selling a home in fanwood
samsel and associates

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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Wayne and Jean. Buyers should call you to navigate the purchase waters in Fanwood. Enjoy your day.

Jun 28, 2018 05:04 AM #1
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Wayne and Jean Marie... as you know, I'm quite familiar with your part of NJ... but have no idea quite where Fanwood is.

Jun 28, 2018 05:24 AM #2
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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for taking the time to prepare and share this market information.  It's most informative.

Jun 28, 2018 06:28 AM #3
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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