07023, Fanwood, NJ

The Fanwood, NJ home equity and home prices are reflective of the overall market in the 7023 zip code. Over the past five years, the median home value has increased by 5.5%. The average price per square foot has also increased by 2.8%, which is above the national average of 1.9%.

There are a number of factors that have contributed to this increase in Fanwood home values. One reason is that there is a high demand for homes in this area due to its close proximity to major cities like New York and Philadelphia. Additionally, many homeowners have taken advantage of low interest rates and refinanced their mortgages in order to take advantage of historically high home values.

Despite these positive trends, there are still some areas where prices may be lower than others. For example, homes located near busy roads or train stations may be more expensive than those located in quieter neighborhoods. Additionally, some homes that were built more recently may command a higher price than older homes because they offer greater amenities such as updated kitchens and bathrooms.