$10,000 Closing Credit*
$1,449,000
5 Beds
•4 Full Baths, 1 Partial
Listing Office: CENTURY 21 SUPREME REALTY
Is Fanwood, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Fanwood has remained a Seller's Market.
Key Takeaway
Fanwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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 November 2023
+$82,000(+12.6%)
Key Takeaway
Homes in Fanwood have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in Fanwood was $735,000 in November 2024, up 12.6% from last year, and the median price per square foot was $434.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | $492.5K | +21.6% |
| 3 Bedrooms | $639K | $662K | +3.6% |
| 4 Bedrooms | $675K | $760K | +12.6% |
| 5+ Bedrooms | $685.5K | $901K | +31.4% |
Summary: Fanwood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Fanwood | $653K | $735K | +12.6% |
| Scotch Plains | $711K | $755K | +6.2% |
| Scotch Plains Township | $723.3K | $758.5K | +4.9% |
Housing Supply in Fanwood, NJ
How many homes are available in Fanwood, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Summary: The Fanwood real estate market had 13 homes for sale in November 2024, a 23.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Fanwood housing inventory by bedroom type for November 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 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was 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. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Fanwood in November 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Fanwood, NJ
We’re sorry, we don't have information for this market at the moment
