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business. The discussion will also include the pros and cons of an independent business versus a franchise.
3rd Street and Emerson Avenue. Come out and support the school districts!
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The Friends of the Plainfield Library are sponsoring the Annual Wine Discovery - Saturday, September 13, 2008 to benefit the library's literacy and program needs. The venue of this year's event is the home of William Gearhart, located at 1039 Rahway Road in
Plainfield. Tickets are $75/person in advance, $85 at the door. There is a scheduled tour of the home from 3:30 - 4:30 PM. Tickets for the tour (including the wine tasting) are $85/person in advance and $95 at the door. For more information call (908) 757-2305.
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Plainfield, NJ market analysis for August 2008
Compared to July 2008
August: July:
Active Listings = 501 511
Average LP = $ 303,274 $ 306,176
New Listings = 67 80
Average LP = $ 294,396 $ 312,758
Under Contract= 18 22
Average LP = $ 245,342 $ 227,386
Sold Listings = 13 15
Average SP = $ 317,769 $ 242,584
Average DOM = 102 108
Average SP/LP = 97% 97%
*Statistics based on information from Garden State MLS, L.L.C. Deemed reliable but not guaranteed.
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The July 2007 average volume of residential listings was 434 with an average price of $342,175. The July 2008 volume was 511 with an average price of $306,176. The Change in volume was a 17.7% increase.
Equally interesting was the similarities in the new listings activity. July 2007 saw 76 listings averaging $337,540 and July 2008 had 80 new listings averaging $312,758.
Now we come to the numbers reflecting the sales activity. July 2007 had 20 properties go under contract averaging $308,800 versus July 2008 with 22 properties averaging $227,386.
Finally, the month of July 2007 closed out with 28 homes sold averaging $305,114, while July 2008 saw 15 homes sold averaging $242,584.
In summary, the market remains robust for listings. Sales on the other hand are down , as are the sales prices.
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