We have the same basic scenario here with the multi-family properties, as we do with the single family. Listing volume is up and sales volume is down. List prices are likewise tumbling downward!

November 2006 saw a 25.69% increase in the number of listings over November 2005. Plainfield had 137 multi-family homes listed for November 2006 with a median list price of $395,000, averaging 103 days on the market. Of the 137 listings, 24 were new with a median price of $379,900. During the month there were 7 sales with a median sales price of $360,000. Sales were down by 58.82% in comparison to November 2005. However, the sale price to list price was a strong 91.14%.

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