Is Rahway, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rahway has remained a Seller's Market.
Housing Prices in Rahway, NJ
How much do homes in Rahway, NJ cost?
Median Sold Price
$440,000
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rahway was $440,000 in March 2024, up 6% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $254.5K | $298K | +17.1% |
2 Bedrooms | $345K | $392.5K | +13.8% |
3 Bedrooms | $425K | $447K | +5.2% |
4 Bedrooms | $462.5K | $537.5K | +16.2% |
5+ Bedrooms | $525K | $535.5K | +2.0% |
Summary: Rahway housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
Colonia | $485K | $555K | +14.4% |
Avenel | $403.5K | $440K | +9.0% |
Clark | $587.6K | $640K | +8.9% |
Clark Township | $587.6K | $640K | +8.9% |
Rahway | $415K | $440K | +6.0% |
Housing Supply in Rahway, NJ
How many homes are available in Rahway, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
78 | 79 | +1.3% |
Summary: The Rahway real estate market had 79 homes for sale in March 2024, a 1.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 8 | 6 | -25.0% |
3 Bedrooms | 33 | 33 | 0.0% |
4 Bedrooms | 24 | 23 | -4.2% |
5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Rahway housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 19 | +18.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Rahway in March 2024, up by 18.8% month-over-month. Of the 19 sold homes, 26% were sold under asking, 5% were sold at asking, and 68% were sold over asking.
Days on Market for Rahway, NJ
How long does it take to sell a home in Rahway, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
9 Days | 31 Days | +246.7% |
Summary: Homes in Rahway had an average of 31 days on market in Mar 2024, up by 246.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Rahway; 11% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.