Is South Plainfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, South Plainfield has remained a Seller's Market.
Housing Prices in South Plainfield, NJ
How much do homes in South Plainfield, NJ cost?
Median Sold Price
$510,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Plainfield was $510,000 in March 2024, up 13.3% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $340K | - | N/A |
2 Bedrooms | $350K | $373.6K | +6.7% |
3 Bedrooms | $443K | $504K | +13.8% |
4 Bedrooms | $547.5K | $580K | +5.9% |
5+ Bedrooms | $585K | $757.8K | +29.6% |
Summary: South Plainfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 29.6%.
Median Sold Price Compared To Nearby Cities
South Plainfield | $450K | $510K | +13.3% |
Edison Township | $482.2K | $534K | +10.7% |
Plainfield | $400K | $440K | +10.0% |
Piscataway | $456K | $485K | +6.3% |
Piscataway Township | $454.8K | $481.2K | +5.8% |
Housing Supply in South Plainfield, NJ
How many homes are available in South Plainfield, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 62 | +8.8% |
Summary: The South Plainfield real estate market had 62 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 10 | +100.0% |
3 Bedrooms | 34 | 33 | -2.9% |
4 Bedrooms | 12 | 17 | +41.7% |
5+ Bedrooms | 6 | 2 | -66.7% |
Summary: The South Plainfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 13 | 0.0% |
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 South Plainfield in March 2024, the same as the previous 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 South Plainfield, NJ
How long does it take to sell a home in South Plainfield, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 32 Days | -33.4% |
Summary: Homes in South Plainfield had an average of 32 days on market in Mar 2024, down by 33.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in South Plainfield; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.