A necessary first step to take before you buy or sell a Scotch Plains home is to learn about local real estate market trends. Here's what you need to know this month.
Inventory: There are currently 148 single family homes offered for sale in Scotch Plains. While the inventory is dropping since the summer peak, there are still plenty of homes to sell. In November of 2013, there were 119 homes actively listed. The high inventory this year isn't because homes aren't selling - in fact, homes are selling quite quickly. There were 25 sales in Scotch Plains in November, nearly 3 times as many as there were in November of 2013. The high inventory this year is because some homeowners who have postponing selling for a few years are finally feeling confident that their home values have returned.
Prices: While prices continue to fluctuate in Scotch Plains, the trend is definitely upward. The average sale price in Scotch Plains in November was $499,324, about 4.5% higher than the 12 month average of $478,000. The average list price in November was $605,318, also about 4.5% higher than the 12 month average. A corresponding increase in List Price is a direct result of increased homeowner confidence in home values.
Days on Market: Homes continue to sell quickly in Scotch Plains and there is no evience that the slow Days on Market of 2012 will return. The average home the sold in Scotch Plains in November was sold after 59 days, slightly faster than the 12 month average of 62 days and significantly faster than the 2012 average of 86 days.
What this means to you: If you're interested in selling your Scotch Plains home, your first step is a Comparative Market Analysis, which of course we are happy to provide free of cost or obligation. With a Comparative Market Analysis, we will show you what your property will likely sell for and offer suggestions to improve the value and sell it as quickly as possible.
If you're interested in purchasing a Scotch Plains home, your first step is a mortgage pre-qualificiation. We're happy to help connect you with a mortgage professional and begin helping you to find your new home. Feel free to peruse the homes offered for sale at WayneZuhl.com and let us know when you're ready to start touring homes!
Team Zuhl is here to help you every step of the way. Please call or email us when you're ready to get your home on the market! Good luck!
For more information on selling a home:
- 3 Simple Steps To Selling Your Home Fast
- 4 Ways to Get Union County Homes to Sell Quicker!!
- How Do Sellers Choose the Right Agent?
- Preparing Your Home to Sell
- PRIDE in Selling Your Home
For more information on Scotch Plains Real Estate:
- Scotch Plains Real Estate Market Report - June 2014
- Scotch Plains Summer Real Estate - June 24, 2014
- Scotch Plains Real Estate Market Report (Infographic) - 5/24/14
- Scotch Plains Real Estate Market Report - 5/24/14
- Real Estate Market Report for Scotch Plains, NJ - 4/23/2014
- Scotch Plains Real News - 3/9/2014
- Homes are Selling Quickly in Scotch Plains! 1/18/2014
- Scotch Plains Real Estate Market Report - 12/14/13
- October in the Scotch Plain Real Estate Market - November, 2013
- The Scotch Plains Real Estate Market Report - October, 2013
- Scotch Plains Real Estate Market Report - August, 2013 - 08/06/13
- Sell My Scotch Plains Home in 7 Steps - 06/03/13
- Scotch Plains Real Estate Market Report for April, 2013 - 05/27/13
- Scotch Plains Real Estate Market Report for Jan.-March, 2013 - 04/08/13
- How long will my Union County home be on the market? - 02/24/13
- Buying and Selling a Home in Scotch Plains - 01/13/13
- Shift in Scotch Plains Real Estate Market - 10/26/12
- How does the number of baths/beds affect sale price in Scotch Plains? - 10/13/12
- Free Market Report of Scotch Plains! - 08/18/12
- Scotch Plains Market Report - 07/20/12
- Scotch Plains Market Trends - 03/11/12