Plainfield, New Jersey's single family home report for December 2010 speaks to the Queen City of Union County. Located in the southernmost tip of Union County you will find the city of Plainfield. Steeped in a rich history, Plainfield dates back to 1847. With that rich history comes an eclectic mix of housing stock, which runs the gamut from Queen Anne Victorians to newly constructed center hall colonials. The six square miles have an impressive portfolio of homes. However, the downward turn in the economy has not left the city unscathed.
Last month there were 360 homes on the market for sale, with an average listing price of $223,526. 33 of the homes were just listed in December and they had an average price of $202,172. Only 18 of those 360 homes went under contract in December and their average listing price was $166,922. Even fewer closings took place in December, a paltry 11 with an average sales price of $169,041, after an average of 127 days on the market.
Clearly, there is an over supply of property for sale. Those sellers looking to take advantage of the serious buyers during the winter months, need to act now, come spring there will be even more competition and by all accounts prices will fall even further.
Plainfield, New Jersey's single family home report for December 2010, illustrates the importance of proper pricing. Call today for your free market analysis.