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.
- 30 homes were sold in Rahway in April, compared to 18 homes sold in April of 2017.
- There are 126 homes currently offered for sale in Rahway in April - compared to the 12 month average of 137.
- More sales, even a conservative increase, will serve to reduce the inventory. 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.
- Average sale price in Rahway in April was $263,647 - compared to the 12 month average of $263,070.
- Average list price in Rahway in June was $280,222 - compared to the 12 month average of $268,011
- Consumer confidence helps increase prices. Rahway has had a slow but steady improvement in prices for several years.
Days on Market:
- In June, the average sold home in Rahway was on the market for 53 days - compared to a 12 month average of 68.6 days.
- Shortened Days on Market is typical in the spring.