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How’s the Real Estate Market
in Scotch Plains?
July, 2014
If you're planning on
buying or selling a home
in Scotch Plains,
the first step is to
learn about the
Scotch Plains real estate
market conditions.
Inventory
There are
currently 142
homes
offered for
sale in Scotch
Plains and
they range in
price from
$180,000 to
$2,750,000.
Ja
n-
12
Fe
b-
12
M
ar-
12
Ap
r-
12
M
ay-
12
Ju
n-
12
Jul
-
12
Au
g-
12
Se
p-
12
Oc
t-
12
No
v-
12
De
c-
12
Ja
n-
13
Fe
b-
13
M
ar-
13
Ap
r-
13
M
ay-
13
Ju
n-
13
Jul
-
13
Au
g-
13
Se
p-
13
Oc
t-
13
No
v-
13
De
c-
13
Ja
n-
14
Fe
b-
14
M
ar-
14
Ap
r-
14
M
ay-
14
Ju
n-
14
Jul
-
14
Active Listings 17818619819119718817417015214512010110512515416217316215214313613911995108109117146165173179
Sold Listings 9 10 20 24 24 35 28 22 18 24 20 14 17 12 8 18 19 31 31 33 23 28 9 24 16 4 16 12 22 33 28
0
50
100
150
200
250
Homes
Active and Sold Listings - Scotch Plains, NJ
Ja
n-
12
Fe
b-
12
M
ar-
12
Ap
r-
12
M
ay-
12
Ju
n-
12
Jul
-
12
Au
g-
12
Se
p-
12
Oc
t-
12
No
v-
12
De
c-
12
Ja
n-
13
Fe
b-
13
M
ar-
13
Ap
r-
13
M
ay-
13
Ju
n-
13
Jul
-
13
Au
g-
13
Se
p-
13
Oc
t-
13
No
v-
13
De
c-
13
Ja
n-
14
Fe
b-
14
M
ar-
14
Ap
r-
14
M
ay-
14
Ju
n-
14
Jul
-
14
Active Listings 17818619819119718817417015214512010110512515416217316215214313613911995108109117146165173179
Sold Listings 9 10 20 24 24 35 28 22 18 24 20 14 17 12 8 18 19 31 31 33 23 28 9 24 16 4 16 12 22 33 28
0
50
100
150
200
250
Homes
Active and Sold Listings - Scotch Plains, NJ
Inventory
12 month avg= 139
July 2014 = 179
July 2013 = 152
July 2012 = 174
July ‘12
July ‘13
July ‘14
12 month avg
Ja
n-
12
Fe
b-
12
M
ar-
12
Ap
r-
12
M
ay-
12
Ju
n-
12
Jul
-
12
Au
g-
12
Se
p-
12
Oc
t-
12
No
v-
12
De
c-
12
Ja
n-
13
Fe
b-
13
M
ar-
13
Ap
r-
13
M
ay-
13
Ju
n-
13
Jul
-
13
Au
g-
13
Se
p-
13
Oc
t-
13
No
v-
13
De
c-
13
Ja
n-
14
Fe
b-
14
M
ar-
14
Ap
r-
14
M
ay-
14
Ju
n-
14
Jul
-
14
Active Listings 17818619819119718817417015214512010110512515416217316215214313613911995108109117146165173179
Sold Listings 9 10 20 24 24 35 28 22 18 24 20 14 17 12 8 18 19 31 31 33 23 28 9 24 16 4 16 12 22 33 28
0
50
100
150
200
250
Homes
Active and Sold Listings - Scotch Plains, NJ
Inventory
12 month avg= 139
July 2014 = 179
July 2013 = 152
July 2012 = 174
July ‘12
July ‘13
July ‘14
12 month avg
Minor increase
in inventory this
year over last.
Typically results
in a decrease in
prices.
Prices
The average
selling price
of a home
in Scotch
Plains in
July was
$572,282.
0
100000
200000
300000
400000
500000
600000
700000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Scotch Plains, NJ
0
100000
200000
300000
400000
500000
600000
700000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Scotch Plains, NJ
Prices
12 month avg = $490,866
July 2014 = $ 572,282
July 2013 = $574,837
July 2012 = $546,002
July ‘12
July ‘13
July ‘14
0
100000
200000
300000
400000
500000
600000
700000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Scotch Plains, NJ
Prices
12 month avg = $490,866
July 2014 = $ 572,282
July 2013 = $574,837
July 2012 = $546,002
July ‘12
July ‘13
July ‘14
Prices have
fluctuated very
little in the past
two years.
Days on Market
The average
sold home in
Scotch Plains
in July was
sold after 43
days.
0
20
40
60
80
100
120
140
160
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Scotch Plains
0
20
40
60
80
100
120
140
160
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Scotch Plains
Days on Market
12 month avg = 61
July 2014 = 43
July 2013 = 64
July 2012 = 51 July ‘12
July ‘13
July ‘14
0
20
40
60
80
100
120
140
160
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Scotch Plains
Days on Market
12 month avg = 61
July 2014 = 43
July 2013 = 64
July 2012 = 51 July ‘12
July ‘13
July ‘14
Homes typically sell faster
in the summer, and sales
this summer have been
exceptionally fast.
What does this mean to you?
Prices and inventory are relatively stable, but
sales are increasing.
If you’re planning to BUY a home, this might be
a great time to get a deal!
If you’re planning to SELL a home, you need to
make sure your home is in top showing
condition and that it’s priced right so that it
stands up to the competition!
Scotch Plains Real Estate Market Report - July 2014

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Scotch Plains Real Estate Market Report - July 2014