$10,000 Closing Credit*
$1,950,000
6 Beds
•5 Full Baths
Listing Office: PROMINENT PROPERTIES SIR
Is Scotch Plains, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Scotch Plains has remained a Seller's Market.
Key Takeaway
Scotch Plains is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Scotch Plains, NJ
How much do homes in Scotch Plains, NJ cost?
Median Sold Price
$765,000
$398/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$58,000(+8.2%)
Key Takeaway
Homes in Scotch Plains have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Scotch Plains was $765,000 in October 2024, up 8.2% from last year, and the median price per square foot was $398.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | $370K | +31.2% |
| 2 Bedrooms | $442K | $497.5K | +12.6% |
| 3 Bedrooms | $582.5K | $650K | +11.6% |
| 4 Bedrooms | $737.5K | $835K | +13.2% |
| 5+ Bedrooms | $1.2M | $1.2M | -0.5% |
Summary: Scotch Plains housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Watchung | $825K | $1.0M | +25.5% |
| Westfield | $997.9K | $1.1M | +17.7% |
| Fanwood | $650K | $722.5K | +11.2% |
| Scotch Plains | $707K | $765K | +8.2% |
| Scotch Plains Township | $715.5K | $769K | +7.5% |
Housing Supply in Scotch Plains, NJ
How many homes are available in Scotch Plains, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 76 | +26.7% |
Summary: The Scotch Plains real estate market had 76 homes for sale in October 2024, a 26.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 11 | 23 | +109.1% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Scotch Plains housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 109.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Scotch Plains, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Scotch Plains in October 2024, down by 26.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.
Days on Market for Scotch Plains, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.