Scotch Plains New Jersey's Monthly Residential Property Market Analysis - April 2007

Fast forward to March 2007 and this township is home to some of the most beautiful equestrian estate in central New Jersey can be found in Scotch Plains.

There were 235 residential properties for sale in April 2007 with an average price of $692,144.

During the month 62 new listings were introduced to the market with an average list price of $670,147. This same period 25 residential properties went under contract. The average list price of the properties with offers was a little more than 85.52% of those that just came on the market, at $566,400.

The residential properties which actually sold and closed title in April, sold for an average sales price of $494,822  and there were 23 of them, with an average of 67 days on the market.

What does all of this mean? Well, sellers can expect to have their properties on the market for just over two months before they are sold. However, properties appropriately prepared for marketing (necessary repairs completed and the home properly staged) and properly priced, continue to get offers!