$8,016 Closing Credit*
$675,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is Scotch Plains, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$755,000
$414/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$44,000(+6.2%)
Key Takeaway
Homes in Scotch Plains have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Scotch Plains was $755,000 in November 2024, up 6.2% from last year, and the median price per square foot was $414.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | $370K | +31.2% |
| 2 Bedrooms | $439K | $500K | +13.9% |
| 3 Bedrooms | $597.5K | $650K | +8.8% |
| 4 Bedrooms | $790K | $840K | +6.3% |
| 5+ Bedrooms | $1.2M | $1.2M | -1.6% |
Summary: Scotch Plains housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Fanwood | $653K | $735K | +12.6% |
| Westfield | $1.0M | $1.1M | +12.2% |
| Scotch Plains | $711K | $755K | +6.2% |
| Watchung | $932.7K | $982.5K | +5.3% |
| Scotch Plains Township | $723.3K | $758.5K | +4.9% |
Housing Supply in Scotch Plains, NJ
How many homes are available in Scotch Plains, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 63 | 65 | +3.2% |
Summary: The Scotch Plains real estate market had 65 homes for sale in November 2024, a 3.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Scotch Plains housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Scotch Plains, you could pay more than the asking price. 86.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Scotch Plains in November 2024, up by 7.1% month-over-month. Of the 15 sold homes, 13% were sold under asking, 0% were sold at asking, and 87% were sold over asking.
Days on Market for Scotch Plains, NJ
How long does it take to sell a home in Scotch Plains, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 97 Days | 11 Days | -88.7% |
Summary: Homes in Scotch Plains had an average of 11 days on market in Nov 2024, down by 88.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Scotch Plains are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in Scotch Plains; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
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.