$10,000 Closing Credit*
$1,950,000
6 Beds
•5 Full Baths
Listing Office: PROMINENT PROPERTIES SIR
Is Scotch Plains Township, 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 Township has remained a Seller's Market.
Key Takeaway
Scotch Plains Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Scotch Plains Township, NJ
How much do homes in Scotch Plains Township, NJ cost?
Median Sold Price
$769,000
$398/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$53,500(+7.5%)
Key Takeaway
Homes in Scotch Plains Township have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Scotch Plains Township was $769,000 in October 2024, up 7.5% 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 | $583.7K | $650K | +11.3% |
| 4 Bedrooms | $760K | $835K | +9.9% |
| 5+ Bedrooms | $1.2M | $1.2M | -0.5% |
Summary: Scotch Plains Township 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 11.3%, 4 bedroom homes increased by 9.9%, 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 Township, NJ
How many homes are available in Scotch Plains Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 62 | 78 | +25.8% |
Summary: The Scotch Plains Township real estate market had 78 homes for sale in October 2024, a 25.8% 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 | 12 | 24 | +100.0% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Scotch Plains Township 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 100%, 4 bedroom homes increased by 19%, 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 Township, 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 Township 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 Township, NJ
We’re sorry, we don't have information for this market at the moment
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