North Plainfield's real estate market is experiencing a price correction, with values down 13.0% from last year. Home prices have decreased 13.9% in the past month. At the current pace, all available homes in North Plainfield would sell out in just 1.1 months, indicating a continued supply shortage. Homes are now taking an average of 49 days to sell, significantly longer than the 27 days typical for this market. A significant 28.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (61.5%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the North Plainfield market with the affordability index at 114.8. Looking ahead, the North Plainfield market is expected to maintain its current trajectory with relatively stable conditions.
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