Scotch Plains and Fanwood NJ Real Estate Market Update

Here are the raw numbers for Scotch Plains and Fanwood NJ for the 2 month period from December 1 through January 31. Later this week, I will be posting the 4th quarter numbers and comparing that quarter to the 3rd quarter and the 4th quarter from a year ago, so you can see where are market is, and maybe even where it is going.

Here is the data for those 2 months:

Closed Sales: 30

Avg. Sales Price: $498,959

Avg. Final List Price: $535,560

List to Sale Price Ratio: 93.1% (this is as low as I've seen this number in a while, indicating a very sharp decline in home prices in the 4th quarter, like I shared in prior blogs)

Avg. Days on Market: 105

Check back for more numbers soon for other towns, and for the quarterly reports and comparisons! Thanks for reading.

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