Rahway Real Estate Market Report

By
Real Estate Agent with Samsel & Associates 0790808

If you own a home in Rahway, or if you want to own a home in Rahway, this is the place to be for information about real estate values this spring.

Here’s what’s been happening lately.

Inventory:

  • 27 homes were sold in Rahway in August, compared to the twelve month average of 28.5 homes sold per month. To search for homes for sale in Rahway, please click here.
  • 103 homes were offered for sale in Rahway in August- compared to the 12 month average of 125.3.
  • As inventory shrinks, demand for homes usually increases. This can help to raise prices and/or shorten the length of time homes are on the market.

For a more detailed analysis of the Rahway home inventory, please click here. 

Realtors use an analysis called Months of Inventory to evaluate the real estate market. The Months of Inventory is equal to how long it would take to sell the existing inventory if no new houses were put on the market.  When the Months of Inventory is below four months, realtors call it a seller's market because the supply is relatively low so sellers have a stronger position in negotiations between a buyer and a seller. When the Months of Inventory is above seven months, realtors call it a buyer's market because the supply is relatively high and buyers have a stronger position in negotiations. Months of Inventory between four and seven is considered a normal market with a good balance of buyers and sellers.

Rahway currently has 4.68 months of inventory available which means we are experiencing a seller's market. This means there are fewer homes available than there are buyers. Typically, this results in faster sales and higher sales prices.

Prices:

  • Average sale price in Rahway in August was $298,628- compared to the 12 month average of $274,856.
  • Average list price in Rahway in August was $308,280- compared to the 12 month average of $291,774.
  • Consumer confidence helps increase prices. Rahway has had a slow but steady improvement in prices for several years.

Average Sale and List Price for homes sold in Rahway sept 2019

The important thing to note about the graph is not the variability but rather the overall long term trend which is represented by the straight blue and red lines which show a healthy increase in home list prices and sale prices in Rahway over the past seven years.

 

Days on Market:

  • In August, the average sold home in Rahway was on the market for 56 days - compared to a 12 month average of 52.7 days.
  • The solid blue trend line on this graph shows that Rahway's homes continue to sell faster each month. 

Days on Market for homes sold in Rahway sept 2019

Please read the full market report, including what this means for buyers and  sellers, here.

To read earlier market reports for Rahway, please click here. To find out more about how Team Zuhl can help you buy or sell a Rahway home, please click here or 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
Location:
New Jersey Union County Rahway
Tags:
team zuhl
rahway real estate
rahway real estate market report
buying a home in rahway
selling a home in rahway
rahway realtors
samsel and associates

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Rainmaker
5,036,156
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Wayne and Jean Marie Zuhl (Jean Marie).... whether one is buying or selling, this is a prime time to enter the real estate market.... and Wayne and Jean Marie are the agents to call for guidance.... this is a sellers' market and if you're thinking of making a move, NOW is the time to call Wayne and Jean Marie.... the competition is slim and your home will sell quickly.... 

if you're thinking of buying, rates are very low and it's prime time to call the Zuhls.... they'll give you the details of what to expect in this market and they'll guide you properly.... 

it all begins with conversation.... now's a great time to call. 

Sep 08, 2019 07:11 AM #1
Rainmaker
3,130,689
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Wayne and Jean Marie... Rahway's market sounds strong... home prices up, inventory down, list prices up. Time for sellers to sell. Time for buyers to buy.

Sep 08, 2019 08:07 AM #2
Rainer
451,927
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Sep 08, 2019 07:19 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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