Is South Plainfield, 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, 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
$515,000
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Plainfield was $515,000 in April 2024, up 14.4% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $340K | - | N/A |
2 Bedrooms | $350K | $373.6K | +6.7% |
3 Bedrooms | $446.5K | $510K | +14.2% |
4 Bedrooms | $532.5K | $582.5K | +9.4% |
5+ Bedrooms | $590K | $780.7K | +32.3% |
Summary: South Plainfield housing prices by bedroom type for April 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 14.2%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 32.3%.
Median Sold Price Compared To Nearby Cities
South Plainfield | $450K | $515K | +14.4% |
Plainfield | $400K | $443.3K | +10.8% |
Edison Township | $487.8K | $537.5K | +10.2% |
Piscataway | $453.2K | $490K | +8.1% |
Piscataway Township | $452.4K | $485.1K | +7.2% |
Housing Supply in South Plainfield, NJ
How many homes are available in South Plainfield, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
62 | 74 | +19.4% |
Summary: The South Plainfield real estate market had 74 homes for sale in April 2024, a 19.4% 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 | 10 | 11 | +10.0% |
3 Bedrooms | 32 | 37 | +15.6% |
4 Bedrooms | 16 | 21 | +31.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The South Plainfield 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 10%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in South Plainfield in April 2024, up by 15.4% month-over-month. Of the 15 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 22 Days | -23.8% |
Summary: Homes in South Plainfield had an average of 22 days on market in Apr 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in South Plainfield; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.