Is Fanwood, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Fanwood was a Neutral Market.
Key Takeaway
Fanwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fanwood, NJ
How much do homes in Fanwood, NJ cost?
Median Sold Price
$675,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fanwood have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in Fanwood was $675,000 in April 2024, up 10.7% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | $405K | 0.0% |
| 3 Bedrooms | $589.5K | $658.5K | +11.7% |
| 4 Bedrooms | $650K | $737.5K | +13.5% |
| 5+ Bedrooms | $949.5K | $685K | -27.9% |
Summary: Fanwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 27.9%.
Median Sold Price Compared To Nearby Cities
| Scotch Plains Township | $658.3K | $763.5K | +16.0% |
| Scotch Plains | $658.3K | $750K | +13.9% |
| Fanwood | $610K | $675K | +10.7% |
Housing Supply in Fanwood, NJ
How many homes are available in Fanwood, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The Fanwood real estate market had 26 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Fanwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fanwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Fanwood in April 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Fanwood, NJ
We’re sorry, we don't have information for this market at the moment
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