Fanwood Real Estate Market Report - July 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:

  • 15 homes were sold in Fanwood in June - significantly higher than the 12 month average of 9 homes per month. Rising interest rates have not dampened the demand for homes in Fanwood.
  • 43 homes were offered for sale in Fanwood in June - significantly higher than the 12 month average of 34 homes per month. Click here to view active listings.
  • A very active real estate market usually causes a decrease in inventory and a concurrent increase in prices.

Prices:

  • Average sale price in Fanwood in June was $526,473 - compare to the 12 month average of $493,109.
  • Average list price in Fanwood in June was $515,653 - compare to the 12 month average of $487,834.
  • Consumer confidence helps increase prices. Fanwood remains one of the hottest communities in Union County and we predict that prices will continue to increase. Owning a home in Fanwood has been, and continues to be, a terrific investment.

Days on Market:

  • In June, the average sold home in Fanwood was on the market for 30 days - compared to the 12 month average of 37 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.
  • Work with a professional you trust who can help you navigate the muddy waters of bidding wars.

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.
  • You're 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.
  • Work with your real estate professional to make sure that your home is priced right and marketed strongly!

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:
Real Estate Market Trends
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New Jersey Union County Fanwood
Tags:
team zuhl
buying a home in fanwood
selling a home in fanwood
samsel and associates

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Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

thanks for sharing your market information with us - you always provide excellent knowledge of your area

Jul 18, 2018 08:38 AM #1
Rainmaker
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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Appreciate the insight from a local expert. Thank you for sharing!

Jul 18, 2018 10:39 AM #2
Rainmaker
1,690,248
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Wayne and Jean -  the consumer confidence has fueled this strong market.  

Jul 19, 2018 12:19 PM #3
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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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