Rahway NJ Real Estate Market Report - February 2020

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:

  • 19 homes were sold in Rahway in Rahway in January, compared to the twelve month average of 27 homes sold per month and compared to the 25 homes that were sold in January of 2019.
  • 94 homes were offered for sale in Rahway in January - compared to the 12 month average of 115 and compared to the 125 homes that were actively listed at this time last year. 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.

Realtors use an analysis called Months of Inventory to evaluate the real estate market. Team Zuhl explains Months of Inventory in Rahway here.

Rahway currently has 4.44 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.

Prices:

  • Average sale price in Rahway in January was $295,384- compared to the 12 month average of $287,715.
  • Average list price in Rahway in January was $319,491- compared to the 12 month average of $304,650.
  • 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 January, the average sold home in Rahway was on the market for 68 days - compared to a 12 month average of 554 days and compared to 51 days it took to sell a home in January of 2019. Slower sales is not uncommon in the fall and winter. When the weather improves, experts predict that market will improve also.
  • The solid blue trend line on this graph shows that Rahway's homes continue to sell faster each month.

Team Zuhl explains how the Rahway real estate market this February affects 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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Rainmaker
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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 have provided a lot of valuable information for buyers and sellers needing info on the Rahway real estate market!  

Feb 18, 2020 08:13 AM #1
Rainer
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Nicholas Crane
Woodland Companies - Cadott, WI
Managing & Appraising Forest Land

Thanks for sharing the information on this community, I hope you sell many of these properties. 

Nick

Feb 19, 2020 02:52 AM #2
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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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