Scotch Plains Real Estate Market Report - July 2017

By
Real Estate Agent with Remax First Realty II 0790808

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:

  • 34 homes were sold in Scotch Plains in June - compare to 46 in June , 2016.
  • 160 homes were offered for sale in Scotch Plains in June - compared to 175 in June of 2016
  • As inventory shrinks, demand for homes usually increases. This can help to raise prices and/or shorten the length of time homes are on the market.

Prices:

  • Average sale price in Scotch Plains in June was $593,909 - compare to the 12 month average of $534,465 repreesnting an 11.1% increase.
  • Average list price in Scotch Plains in June was $718,595 - compare to the 12 month average of $673,022.
  • Consumer confidence helps increase prices. Scotch Plains home prices have been increasing steadily for several years, although there has not been any significant growth this year.  One explanation for the lower than expected sale price may be an increase in the condo market in Scotch Plains. Condos are included in the single family home statistics even though their average sale price is typically lower than that of a stand alone home.

Days on Market:

  • In June, the average sold home in Scotch Plains was on the market for 82 days - compared to the 12 month average of 54 days.
  • Longer Days on Market is unusual in the spring.

What this means for buyers and sellers? Click here.

For more information on our Scotch Plains featured listing, please click here.

 

To read more about the real estate market in Scotch Plains, please read our earlier market reports here.  For more information on how Team Zuhl can help you, please click here or call us at 908-917-4189.

 

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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. 

Comments (2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Wayne and Jean. Things are looking up in Scotch Plains with no signs of slowing down! Enjoy your day!

Jul 29, 2017 05:27 AM
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

Wayne and Jean Marie Zuhl All the numbers shown by your report strongly suggest this trend will continue. A great time to be selling homes in your marketplace.

Jul 29, 2017 05:32 AM