Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Unwrapping the Scotch Plains Real Estate Market - December 2019
Homeowners and home buyers in Scotch Plains  are smart to learn about the real estate market to help make an informed decision about when to buy and sell a home in Scotch Plains .
Here’s what’s been happening lately.
Inventory:
21 homes were sold in Scotch Plains in November - compared to the 12 month average of 26.8 homes per month. Inventory is 117 currently listed homes compared to a 12 month average of 143 homes and to the 156 homes that were offered for sale at this time last year. Click here to view currently listed homes in Scotch Plains.As inventory decreases, demand for homes usually increases. This can help to raise prices and/or decrease how long it takes to sell a home.Realtors use an analysis called Months of Inventory to evaluate the real estate market. The Months of Inventory is equal to how long it would take to sell the existing inventory if no new houses were put on the market.  When the Months of Inventory is below four months, realtors call it a seller's market because the supply is relatively low so sellers have a stronger position in negotiations between a buyer and a seller. When the Months of Inventory is above seven months, ... more

__________________________________________________
Are you on The Rain? Grow Your Network!