Come out of your shell - Don't miss Rahway's Real Estate Update!

By
Real Estate Agent with Samsel & Associates 0790808

Team Zuhl, Rahway's real estate experts, are working hard to make sure Rahway home owners and home buyers are well educated about what the homes in Rahway are worth. This month's Rahway real estate market update was published a few weeks ago.

rahway real estate market report

Click here to read the September Real Estate Market Report for Rahway.

Here's a quick summary of what we learned:

Inventory:

  Active Listings Sold Listings
August 2019 103 27
August 2018 156 33
12 month average 125.33 28.50

 

  • 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.

 

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.

  Months of Inventory
August 2019 4.68
August 2018 4.73
12 month average 4.62

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 List Price Average Sale Price
August 2019 $308,280 $298,628
August 2018 $275,756 $254,506
12 month average $291,774 $274,856

Consumer confidence helps increase prices. Rahway has had a slow but steady improvement in prices for several years.

Days on Market:

  Days on Market
August 2019 56
August 2018 62
12 month average 52.67

 

Click here to read the September Real Estate Market Report for Rahway.

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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Rainmaker
4,101,315
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, you always have valuable information for anyone looking to see how the real estate market is doing in Rahway.

Sep 21, 2019 06:33 AM #1
Rainmaker
3,125,670
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brilliant, as always, Wayne and Jean Marie. Who could resist clicking through? Certainly not I.

Sep 21, 2019 06:38 AM #2
Rainmaker
3,357,178
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Jean Marie and Wayne - cleverly presented real estate updates for Rahway make them easy to remember.  And if one forgets, hopefully your names become memorable for Rahway Area Real Estate.

Sep 21, 2019 07:39 AM #3
Rainer
448,722
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 21, 2019 04:12 PM #4
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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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