How’s the Real Estate Market in Fanwood?

July, 2014

If you're planning on buying or selling a home

in Fanwood, the first step is to learn about the

Fanwood real estate market conditions.

Inventory

There are currently 36 homes offered for sale in Fanwood and they range in price from $199,000 to $749,000.

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Active Listings

38 49 56 55 55 48 42 32 35 41 35 38 32 34 34 38 49 47 44 41 32 29 31 25 22 23 33 38 41 48 46

Sold Listings

5 3 5 4 10 7 12 8 8 1 5 3 2 7 2 8 5 9 9 7 8 10 5 6 4 1 5 9 9 12 8

5

15

25

35

45

55

Active and Sold Listings in Fanwood

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Active Listings

38 49 56 55 55 48 42 32 35 41 35 38 32 34 34 38 49 47 44 41 32 29 31 25 22 23 33 38 41 48 46

Sold Listings

5 3 5 4 10 7 12 8 8 1 5 3 2 7 2 8 5 9 9 7 8 10 5 6 4 1 5 9 9 12 8

5

15

25

35

45

55

Active and Sold Listings in Fanwood

Inventory

12 month avg= 34July 2014 = 46July 2013 = 44July 2012 = 42

July ‘12July ‘13 July ‘14

12 month avg

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Feb-12

Mar-12

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Active Listings

38 49 56 55 55 48 42 32 35 41 35 38 32 34 34 38 49 47 44 41 32 29 31 25 22 23 33 38 41 48 46

Sold Listings

5 3 5 4 10 7 12 8 8 1 5 3 2 7 2 8 5 9 9 7 8 10 5 6 4 1 5 9 9 12 8

5

15

25

35

45

55

Active and Sold Listings in Fanwood

Inventory

12 month avg= 34July 2014 = 46July 2013 = 44July 2012 = 42

July ‘12July ‘13 July ‘14

12 month avg

* Inventory is pretty typical for July, but much higher than the past 12 months. High supply = drop in prices.

Prices

The average selling price of a home in Fanwood in July was $422,400.

Jan-12

Feb-12

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Jun-12Jul-1

2

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-13

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40

100000

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Fanwood - Average Sale Price vs. Average List Price

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Jun-12Jul-1

2

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-13

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3

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Fanwood - Average Sale Price vs. Average List Price

Prices

12 month avg = $423,228July 2014 = $ 422,400July 2013 = $466,433July 2012 = $381,583 July ‘12

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July ‘14

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Feb-12

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Jun-12Jul-1

2

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-13

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3

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40

100000

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Fanwood - Average Sale Price vs. Average List Price

Prices

12 month avg = $423,228July 2014 = $ 422,400July 2013 = $466,433July 2012 = $381,583 July ‘12

July ‘13

July ‘14

Prices are down from last year and slightly lower than the 12 month average.

Days on Market

The average sold home in Fanwood in July was sold after 28 days.

Average Days on Market - Cranford, NJ

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Average DOM - Fanwood

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Average DOM - Fanwood

Days on Market

12 month avg = 57July 2014 = 28July 2013 = 91July 2012 = 53 July ‘12

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July ‘14

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Average DOM - Fanwood

Days on Market

12 month avg = 57July 2014 = 28July 2013 = 91July 2012 = 53 July ‘12

July ‘13

July ‘14

* Buyers are buying fast in Fanwood!

What does this mean to you?Prices are down, inventory is up, and homes are

selling quickly! If you’re planning to BUY a home, this might be

a great time to get a deal! If you’re planning to SELL a home, you need to

make sure your home is in top showing condition and that it’s priced right so that it stands up to the competition!