South Plainfield Home Prices & Values

$283,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.3% 1-year change
  • 0.2% 1-year forecast

The median home value in South Plainfield is $283,800. South Plainfield home values have gone up 4.3% over the past year and Zillow predicts they will rise 0.2% within the next year. The median price of homes currently listed in South Plainfield is $299,000 while the median price of homes that sold is $285,538. The median rent price in South Plainfield is $1,650.

Foreclosures will be a factor impacting home values in the next several years. In South Plainfield 1.2 homes are foreclosed (per 10,000). This is the same as the New York Metro value of 1.2 and also lower than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in South Plainfield is 14.6%, which is higher than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of South Plainfield homeowners underwater on their mortgage is 22.0%, which is higher than New York Metro at 15.7%.

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Relative ZHVI
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South Plainfield Market Overview

Data through Jul 31, 2014
  • $283,800 ZHVI
  • 0.2% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $299,000 Median listing price
  • $285,538 Median sale price (Jun 30, 2014)
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South Plainfield Market Health

Data through Jul 31, 2014
  • 4.4/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 22.0% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 14.6% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

1.2 homes South Plainfield
1.2 homes New York Metro
4.4 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Watchung $639,400 Scotch Plains $431,500 Metuchen $358,200
Edison $327,400 Society Hill $302,600 Piscataway Township $285,800
North Plainfield $249,400 Dunellen $236,200 Plainfield $183,100

Listings & Sales

Data through Jul 31, 2014
  • No recent data Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 35.4% Listings with price cut
27.1%
Sold below listing
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South Plainfield Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,003 South Plainfield
$2,316 New York Metro
$1,318 United States
  • 4.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,650 Rent list price
  • No recent data Rent list price / sq ft
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