Raritan Township Home Prices & Values

$375,100 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 7.0% 1-year change
  • 3.4% 1-year forecast

The median home value in Raritan Township is $375,100. Raritan Township home values have gone up 7.0% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in Raritan Township is $183, which is lower than the New York Metro average of $264. The median price of homes currently listed in Raritan Township is $399,999 while the median price of homes that sold is $288,471. The median rent price in Raritan Township is $2,500, which is lower than the New York Metro median of $2,850.

Foreclosures will be a factor impacting home values in the next several years. In Raritan Township 0.9 homes are foreclosed (per 10,000). This is lower than the New York Metro value of 1.1 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Raritan Township is 9.9%, which is higher than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Raritan Township homeowners underwater on their mortgage is 12.4%, which is lower than New York Metro at 15.7%.

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Relative ZHVI
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Raritan Township Market Overview

Data through Jun 30, 2014
  • $375,100 ZHVI
  • 3.4% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $399,999 Median listing price
  • $288,471 Median sale price (May 31, 2014)
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Raritan Township Market Health

Data through Jun 30, 2014
  • 6.0/10 Healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 12.4% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 9.9% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

0.9 homes(Apr 30, 2014) Raritan Township
1.1 homes New York Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Readington $410,100 Franklin Township $392,500 Delaware Township $392,200
Clinton Township $387,700 East Amwell Township $378,200 West Amwell $348,700
Kingwood Township $332,000 Whitehouse Station $294,600 Flemington $259,700

Listings & Sales

Data through Jun 30, 2014
  • $183 Median list price / sq ft
  • $161 Median sale price / sq ft (May 31, 2014)
  • 36.6% Listings with price cut
34.3%
Sold below listing
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Raritan Township Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,528 Raritan Township
$2,300 New York Metro
$1,310 United States
  • 5.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $2,500 Rent list price
  • $1.34 Rent list price / sq ft
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