Is North Plainfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, North Plainfield has remained a Seller's Market.
Housing Prices in North Plainfield, NJ
How much do homes in North Plainfield, NJ cost?
Median Sold Price
$460,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North Plainfield was $460,000 in May 2024, up 17.9% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $217.5K | +31.8% |
2 Bedrooms | $351K | $350K | -0.3% |
3 Bedrooms | $397.5K | $456K | +14.7% |
4 Bedrooms | $451K | $497.5K | +10.3% |
5+ Bedrooms | $550K | $557.5K | +1.4% |
Summary: North Plainfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.8%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Cities
North Plainfield | $390K | $460K | +17.9% |
Dunellen | $451.2K | $515K | +14.1% |
Plainfield | $400K | $450K | +12.5% |
Watchung | $882.5K | $945K | +7.1% |
Green Brook Township | $575K | $570K | -0.9% |
Housing Supply in North Plainfield, NJ
How many homes are available in North Plainfield, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 53 | +29.3% |
Summary: The North Plainfield real estate market had 53 homes for sale in May 2024, a 29.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 8 | +33.3% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 17 | 23 | +35.3% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The North Plainfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 35.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 12 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in North Plainfield in May 2024, up by 100.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 8% were sold at asking, and 83% were sold over asking.
Days on Market for North Plainfield, NJ
How long does it take to sell a home in North Plainfield, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 45 Days | +95.7% |
Summary: Homes in North Plainfield had an average of 45 days on market in May 2024, up by 95.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in North Plainfield; 0% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.