Rahway Real Estate Market Report - July 2014
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The real estate market in Rahway, NJ in July 2014 had 173 homes for sale ranging in price from $61,300 to $539,000, with average inventory slightly above the 12-month average. The average home sale price was $214,243, a small gain over the past year. Homes sold very quickly on average in just 71 days, a significant drop from previous years, indicating a strong seller's market.
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Rahway Real Estate Market Report - July 2014
- 1. How’s the Real Estate Market in Rahway? July, 2014
- 2. If you're planning on buying or selling a home in Rahway, the first step is to learn about the Rahway real estate market conditions.
- 3. Inventory There are currently 173 homes offered for sale in Rahway and they range in price from $61,300 to $539,000. Ja n- 12 Fe b- 12 M ar- 12 Ap r- 12 M ay- 12 Ju n- 12 Jul - 12 Au g- 12 Se p- 12 Oc t- 12 No v- 12 De c- 12 Ja n- 13 Fe b- 13 M ar- 13 Ap r- 13 M ay- 13 Ju n- 13 Jul - 13 Au g- 13 Se p- 13 Oc t- 13 No v- 13 De c- 13 Ja n- 14 Fe b- 14 M ar- 14 Ap r- 14 M ay- 14 Ju n- 14 Jul - 14 Series1 22 22 21 22 21 23 22 22 23 21 19 18 17 16 17 18 19 20 20 19 18 19 18 16 18 18 19 22 22 22 21 Series2 11 9 18 11 14 22 16 15 28 8 6 11 13 8 13 10 21 16 16 19 20 21 20 18 8 13 8 7 12 26 21 0 50 100 150 200 250 Homes Active and Sold Listings - Rahway, NJ
- 4. Ja n- 12 Fe b- 12 M ar- 12 Ap r- 12 M ay- 12 Ju n- 12 Jul - 12 Au g- 12 Se p- 12 Oc t- 12 No v- 12 De c- 12 Ja n- 13 Fe b- 13 M ar- 13 Ap r- 13 M ay- 13 Ju n- 13 Jul - 13 Au g- 13 Se p- 13 Oc t- 13 No v- 13 De c- 13 Ja n- 14 Fe b- 14 M ar- 14 Ap r- 14 M ay- 14 Ju n- 14 Jul - 14 Series1 22 22 21 22 21 23 22 22 23 21 19 18 17 16 17 18 19 20 20 19 18 19 18 16 18 18 19 22 22 22 21 Series2 11 9 18 11 14 22 16 15 28 8 6 11 13 8 13 10 21 16 16 19 20 21 20 18 8 13 8 7 12 26 21 0 50 100 150 200 250 Homes Active and Sold Listings - Rahway, NJ Inventory 12 month avg= 197 July 2014 = 218 July 2013 = 207 July 2012 = 228 July ‘12 July ‘13 July ‘14 12 month avg
- 5. Ja n- 12 Fe b- 12 M ar- 12 Ap r- 12 M ay- 12 Ju n- 12 Jul - 12 Au g- 12 Se p- 12 Oc t- 12 No v- 12 De c- 12 Ja n- 13 Fe b- 13 M ar- 13 Ap r- 13 M ay- 13 Ju n- 13 Jul - 13 Au g- 13 Se p- 13 Oc t- 13 No v- 13 De c- 13 Ja n- 14 Fe b- 14 M ar- 14 Ap r- 14 M ay- 14 Ju n- 14 Jul - 14 Series1 22 22 21 22 21 23 22 22 23 21 19 18 17 16 17 18 19 20 20 19 18 19 18 16 18 18 19 22 22 22 21 Series2 11 9 18 11 14 22 16 15 28 8 6 11 13 8 13 10 21 16 16 19 20 21 20 18 8 13 8 7 12 26 21 0 50 100 150 200 250 Homes Active and Sold Listings - Rahway, NJ Inventory 12 month avg= 197 July 2014 = 218 July 2013 = 207 July 2012 = 228 July ‘12 July ‘13 July ‘14 12 month avg Above average inventory tends to decrease prices.
- 6. Prices The average selling price of a home in Rahway in July was $214,243. 0 50000 100000 150000 200000 250000 300000 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Sale Price and List Price - Rahway, NJ
- 7. 0 50000 100000 150000 200000 250000 300000 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Sale Price and List Price - Rahway, NJ Prices 12 month avg = $211,787 July 2014 = $ 214,243 July 2013 = $220,819 July 2012 = $180,091 July ‘12 July ‘13 July ‘14
- 8. 0 50000 100000 150000 200000 250000 300000 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Sale Price and List Price - Rahway, NJ Prices 12 month avg = $211,787 July 2014 = $ 214,243 July 2013 = $220,819 July 2012 = $180,091 July ‘12 July ‘13 July ‘14 Very small price gains over the past 12 months.
- 9. Days on Market The average sold home in Rahway in July was sold after 71 days. 0 50 100 150 200 250 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Days on Market - Rahway, NJ
- 10. 0 50 100 150 200 250 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Days on Market - Rahway, NJ Days on Market 12 month avg = 100 July 2014 = 71 July 2013 = 83 July 2012 = 136 July ‘12 July ‘13 July ‘14
- 11. 0 50 100 150 200 250 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Average Days on Market - Rahway, NJ Days on Market 12 month avg = 100 July 2014 = 71 July 2013 = 83 July 2012 = 136 July ‘12 July ‘13 July ‘14 Tremendous improvement in the time it takes to sell a home in Rahway!
- 12. What does this mean to you? Prices are slowly increasing, but 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!