Rahway Real Estate Market Report - January 2020

   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:

• 23 homes were sold in Rahway in Rahway, compared to the twelve month average of 27 homes sold per month.
• 117 homes were offered for sale in Rahway in November - compared to the 12 month average of 119. You can browse homes for sale in Rahway by clicking here.
• 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.

Rahway currently has 4.13 months of inventory available which means we are experiencing a normal market. This means there are enough homes to satisfy the demand of the available buyers. For a more in depth analysis of Rahways Months of Inventory, please visit our Rahway Real Estate Information page here.

Prices:

• Average sale price in Rahway in December was $292,413- compared to the 12 month average of $284,972.
• Average list price in Rahway in December was $323,784- compared to the 12 month average of $301,835.
• Consumer confidence helps increase prices. Rahway has had a slow but steady improvement in prices for several years.

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.

Many forecasters are predicting a turn around in the real estate market and are expecting a busy winter. Factors such as existing and pending home sales and buyer traffic indicate that we may be headed for a rebound.

Days on Market:

• In December , the average sold home in Rahway was on the market for 69 days - compared to a 12 month average of 54 days and compared to 49 days it took to sell a home in December  of 2018. Slower sales is not uncommon in the fall and winter.
• The solid blue trend line on this graph shows that Rahway's homes continue to sell faster each month.

Please visit our Rahway Real Estate Information page here for more information on what this means for buyers and sellers.

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.