Plainfield, New Jersey's Monthly Multifamily Property Market Analysis

Plainfield has many multifamily properties, so it stands to reason that there are quite a few available for sale. As in Scotch Plains, so here in Plainfield you find that the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences.

There were 140 properties available for sale in February, with a list price of $399,013. That's higher than 2006 by about 2%. There were 23 new listings in February,  with an average list price of $392,683, 10 less than 2006. Five multifamily properties went under contract in February, with an average list price of $421,540. There were only four closings in 2007 verses 10 in 2006.

We are looking at an average of two months before the multifamily properties are sold. Having said that, properties are selling.