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Scotch Plains Real Estate Market Report - November 2016
If you own a home in Scotch Plains, or if you want to own a home in Scotch Plains, this is the place to find out what you need to know this winter.
Inventory: There are currently 145 single family  homes offered for sale in Scotch Plains compared to a 12 month average of 153 homes. Fewer homes are typically listed in the winter months and this is not unusually low for November. Twenty two homes were sold in November at an average sale price of $488,091.
The graph for real estate inventory and sold homes in Scotch Plains shows seasonal trends of high inventory and sales in the summer months and low inventory and sales in the winter months. The red line in this graph is the sold listings. The straight red line shows the trends in sales going back to January of 2012 and eliminates seasonal variability. It shows a definite upward trend and about 50% more homes are sold each month now compared to 4 years ago.
The blue line on this graph shows active listings and the straight blue line shows the trend of inventory eliminating the seasonal variability. It shows a gradual decrease in inventory now compared to 4 ... more

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