Shift in Scotch Plains Real Estate Market

By
Real Estate Agent with Samsel & Associates 0790808
https://activerain.com/droplet/KBS

 

 

 

Scotch Plains, NJ, is a lovely town located in southwestern Union County and is home to approximately 23,500 people. 

 

Scotch Plains has seen a very robust summer real estate market with nearly 100 homes sold this summer. The market has slowed down a bit in September with only 15 homes sold, however.




Active listings in Scotch Plains have dropped a bit, resulting in a lowering of the absorption rate.

A comparison between the sold listings and the active listings can be used to calculate the absorption rate. The absorption rate is the data upon which real estate professionals identify a market as a "buyer's market" or a "seller's market." If the absorption rate is above 6 months, there are more homes than there are buyers and the market is said to be a buyer's market. If the absorption rate is below 6 months, there are more buyers than there are homes and the market is said to be a seller's market. 


The absorption rate in Scotch Plains has dropped from 8.41 in April to 6.34 in September. Corresponding to this is a shift from a strong buyer's market to a more normal market. 





Sales price of homes in Scotch Plains can be expected to remain steady. Lowered inventory will increase demand and may actually increase prices.


 

If you're interested in buying or selling in Scotch Plains, NJ, Team Zuhl offers 2 realtors for the price of one!


For more information on the Real Estate Market in Scotch Plains:

How does the number of baths/beds affect sale price in Scotch Plains? 

Free Market Report of Scotch Plains! 

Scotch Plains Market Report 

Scotch Plains Market Trends 


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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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New Jersey Union County Scotch Plains
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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Your enthusiasm for your area is very alluring...best wishes for good sales.

Oct 26, 2012 01:45 AM #1
Rainmaker
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Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

Great local report... things look pretty steady which may be a good sign moving forward... Happy Day and stay clear of Sandy!

Oct 26, 2012 06:31 AM #2
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Great local information! The market is indeed improving all over the country!

Oct 26, 2012 07:07 AM #3
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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