Plainfield, New Jersey's Monthly Multifamily Property Market Analysis

Real Estate Agent with ERA Queen City Realty

Plainfield has many multifamily properties, so it stands to reason that there are quite a few available for sale. As in Scotch Plains, so here in Plainfield you find that the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences.

There were 138 properties available for sale in January, with a list price of $407,875. That's higher than 2006 by about 4%. The days on market was 98, 44% less than 2006 for the same period. There were 37 new listings in January,  9 more than 2006. seven multifamily properties went under contract in January, five less than 2006. There were only two closings in 2007 verses 12 in 2006.

We are still looking at an average of three months before the multifamily properties are sold. Having said that, properties are selling.

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William Collins

Director of Property and Asset Management
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