Is Fanwood, NJ 07023 a buyer’s or seller’s market?

The Fanwood housing market right now

In the three months ending August 31, 2026, 61% of homes in Fanwood, NJ 07023 sold above their list price, the typical home went under contract in 21 days and there were 0.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 32 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 86%, homes sold more slowly (15 days then) and the median sale price rose 3% to $802,153. Overall, Fanwood is less competitive than a year ago, which gives buyers more room.

Within Union County, homes here sell faster than in 56% of the county’s ZIP codes, and sell less often over asking than in 92%. On our competition score, Fanwood ranks #42 of 444 NJ ZIP codes with enough sales (score 94 out of 100).

Nearby, buyers who want less competition could look at Elizabethport 07206 (58% sold over asking) or Linden 07036 (59% sold over asking), while New Providence 07974 (91% sold over asking) and Berkeley Heights 07922 (85% sold over asking) are even more competitive.