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Scotch Plains New Jersey's Monthly Residential Property Market Analysis - March 2007

By
Real Estate Agent with ERA Queen City Realty

The battle of Short Hills was fought in this area in 1777 during the Revolutionary War.

Fast forward to March 2007 and this township is home to some of the most beautiful equestrian estates communities in central New Jersey.

There were 229 residential properties for sale in March 2007 with an average price of $683,4347.

During the month 62 new listings were introduced to the market with an average list price of $V548,258. This same period 26 residential properties went under contract. The average list price of the properties with offers was a little more than 91.22% of those that just came on the market, at $500,116 .

The residential properties which actually sold and closed title in March, sold for an average sales price of $538,739  and there were 19 of them, with an average of 78 days on the market.

 

 

What does all of this mean? Well, sellers can expect to have their properties on the market for just over two months before they are sold. However, properties appropriately prepared for marketing (necessary repairs completed and the home properly staged) and properly priced, continue to get offers!

 

 

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