North Plainfield New Jersey's Monthly Residential Property Market Analysis - June 2007

North Plainfield is marching to a tune all of it's own. While many municipalities in the central part of the state are experiencing around three months on the market before closing, North Plainfield is firmly at the two month mark.

Last month there were 305 homes for sale with an average listing price of $335,056. During June of last year, there were 223 homes on the market with an average list price of $326, 137. Here again we see another anomaly, where  unlike most other municipalities, North Plainfield's listing prices have not taken a serious dive.

June of this year saw 48 new homes come on the market with an average list price of $328,119, again slightly down from last year which had 55 in the month of June with an average list price of $317,678.

While the number of homes under contract in June was only 20, the average list price was $386,451, significantly higher than last year in June when the average list price of homes under contract in June was only $303,686 and there were 35 of them.

The closings in June were consistent with those going under contract with a low of 20 averaging a sales price of $308,865. Here we see an improvement over last year when the average sales price in June was a low $298,773 with 34 closings.

When it is all said and done, North Plainfield is a wonderful market for sellers, who are realizing a good return on their investment and buyers are getting good value for the money.