$1,200,000
0.26 Acres
Land
Listing Office: COLDWELL BANKER REALTY
Is Fanwood, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, Fanwood was a Seller's Market.
Key Takeaway
Fanwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Fanwood, NJ
How much do homes in Fanwood, NJ cost?
Median Sold Price
$735,000
$434/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$65,000(+9.7%)
Key Takeaway
Homes in Fanwood have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Fanwood was $735,000 in December 2024, up 9.7% from last year, and the median price per square foot was $434.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $412.5K | $492.5K | +19.4% |
| 3 Bedrooms | $650.5K | $658.5K | +1.2% |
| 4 Bedrooms | $688K | $792.7K | +15.2% |
| 5+ Bedrooms | $685.5K | $901K | +31.4% |
Summary: Fanwood housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Fanwood | $670K | $735K | +9.7% |
| Scotch Plains | $722.5K | $782K | +8.2% |
| Scotch Plains Township | $735K | $785K | +6.8% |
Housing Supply in Fanwood, NJ
How many homes are available in Fanwood, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The Fanwood real estate market had 12 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Fanwood housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Fanwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Fanwood in December 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Fanwood, NJ
We’re sorry, we don't have information for this market at the moment
