Is Scotch Plains, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Scotch Plains has remained a Seller's Market.
Housing Prices in Scotch Plains, NJ
How much do homes in Scotch Plains, NJ cost?
Median Sold Price
$750,000
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Scotch Plains was $750,000 in April 2024, up 13.9% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255K | $309K | +21.2% |
2 Bedrooms | $420K | $468.7K | +11.6% |
3 Bedrooms | $565K | $645K | +14.2% |
4 Bedrooms | $708.5K | $804K | +13.5% |
5+ Bedrooms | $1.1M | $1.2M | +8.1% |
Summary: Scotch Plains housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
Westfield | $964K | $1.1M | +19.3% |
Scotch Plains Township | $658.3K | $763.5K | +16.0% |
Scotch Plains | $658.3K | $750K | +13.9% |
Fanwood | $610K | $675K | +10.7% |
Watchung | $875K | $951.7K | +8.8% |
Housing Supply in Scotch Plains, NJ
How many homes are available in Scotch Plains, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 68 | +33.3% |
Summary: The Scotch Plains real estate market had 68 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 11 | 16 | +45.5% |
4 Bedrooms | 20 | 24 | +20.0% |
5+ Bedrooms | 18 | 24 | +33.3% |
Summary: The Scotch Plains housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Scotch Plains in April 2024, up by 8.3% month-over-month. Of the 13 sold homes, 15% were sold under asking, 8% were sold at asking, and 77% were sold over asking.
Days on Market for Scotch Plains, NJ
How long does it take to sell a home in Scotch Plains, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Scotch Plains; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.