Monthly Residential Property Market Analysis For Scotch Plains, New Jersey- August 2008

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Real Estate Agent with ERA Queen City Realty

Scotch Plains residential listings were down by 13% by comparison to August 2007, with an average list price of $689,648, representing an increase in price by 3%. However, new listings during the month were down by9% with an average price of $520,490, representing a decrease in price by 16.4%.

August 2008 saw an increase in properties scheduled to close by 6% with an average price of $532,389, representing an increase in price over August 2007 by 1%.

In the end, sales were down by 51.43%, although the average price was $515,765, up by 3%.

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