Union County Homes

Scotch Plains Market Update - November 2016

If you’re thinking about buying or selling a home in Scotch Plains, the first step you should take is to educate yourself about how the real estate market is doing in Scotch Plain.

Here’s what you need to know for November, 2016.

Inventory: There are currently 118 single family homes offered for sale in Scotch Plains ranging in price from $179,900 to $2,524,900.  Twenty-six homes were sold in October which is about 19% lower than the average over the last 12 months.

This past summer had an average inventory for Scotch Plains. However, the number of sold homes is on the rise, good news for Scotch Plains sellers!

Prices: In October 2016, the average sold home in Scotch Plains was sold for $483,517 which is about 9% below than the 12-month average. However, the average sale price 4 years ago was around $470,000 and now we’re looking at numbers closer to $520,000 which shows an increase of about 10%  return on investment over 4 years.

Days on Market: The 3 factors that affect how long it will take to sell your home are price, condition, and marketing. In October of 2016, the average sold home was sold after 54 days - that’s a bit of a slowdown from the very rapid sales we saw this summer but not unusually slow for October.

To search Scotch Plains listings, please click here. For the full Market Report click here.

If we can help you with your Scotch Plains home sale or purchase, please call us at 908-917-4189. We proudly represent Hallmark realtors where our mission is to provide excellent customer service so that our clients become clients for life.

 

 

 

 

~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

Comment balloon 3 commentsWayne and Jean Marie Zuhl • November 12 2016 09:17AM
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