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Market Confidence Meter          The National Association              of Realtors reports                     that       ...
Market Confidence Meter             Nationally, we have           recovered about 66% of              the jobs lost in the...
Market Confidence Meter         NJ Housing Affordability                 is at 133%.         This means you can buy a     ...
Market Confidence Meter            The Federal Reserve           will continue boosting          housing market recovery  ...
Market Confidence Meter                  In New Jersey,                January was the 16th               consecutive mont...
Market Confidence Meter           The average rate on a 30-          year, fixed-rate mortgage is                 still be...
Historic Home Prices    Remember, when adjusted for   inflation, American home pricesincreased by an average of about half...
Market Confidence Meter           The Federal Reserve           Bank of Philadelphia            forecasts the New         ...
With an eye to Moving This Year!If you are a Buyer,•   with today’s low interest rates, hovering around 3.4% for 30-year  ...
Top Five Rules for Understanding    the Real Estate Market:       1.   Real Estate is Local       2.   Real Estate is Loca...
Understand the Local Market That     You are Buying into or         Selling out of!
How do we assess strength and vitality    in our real estate markets?By checking the “Absorption Rate.”This is the number ...
Sample Market Absorption Rate                        Anyt ow n., NJ        100 cur r ent act ive list ings            25  ...
14Market Absorption Scale (Absorption Rate in Months)
Market Scale for Supply & Demand                                                                 Weichert, Realtors has   ...
3/4/13Towns        Active     Pending   Absorption   New Listings   Net Gain    Listings     % of      Expired    W/drawn ...
3/4/13Towns        Active     Pending   Absorption   New           Net Gain    Listings   % of      Expired    W/drawn    ...
3/4/13Towns        Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/drawn  ...
3/4/13Towns            Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/dra...
3/4/13Towns           Active     Pending   Absorption   New        Net Gain    Listings   % of      Expired    W/drawn    ...
3/4/13Towns            Active     Pending   Absorption   New           Net Gain    Listings   % of      Expired    W/drawn...
3/4/13Towns           Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/draw...
3/4/13Towns           Active     Pending   Absorption   New           Net Gain    Listings   % of      Expired    W/drawn ...
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Greater Princeton Area Real Estate Trends March 14 2013

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Follow the strength of real estate in the greater Princeton New Jersey area--all surrounding municipalities, towns, and school districts

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  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  • Transcript of "Greater Princeton Area Real Estate Trends March 14 2013"

    1. 1. Market Confidence Meter The National Association of Realtors reports that prices for single-family homes rose in 88% of U.S. cities in the fourth quarter of 2012.
    2. 2. Market Confidence Meter Nationally, we have recovered about 66% of the jobs lost in the 63-month recession. More people working = fewer foreclosures, a better housing recovery and a better economy.
    3. 3. Market Confidence Meter NJ Housing Affordability is at 133%. This means you can buy a third more house for the same monthly payment, a $400,000 house for the same monthly payment as a $300,000 house!
    4. 4. Market Confidence Meter The Federal Reserve will continue boosting housing market recovery by keeping downward pressure on interest rates, now at or near historic lows.
    5. 5. Market Confidence Meter In New Jersey, January was the 16th consecutive month of increased sales. Housing inventory is down to its lowest levels since 2005, the last year of the housing bubble. With sales up and supply down, everything points to a strong, breakout NJ real estate market this Spring!
    6. 6. Market Confidence Meter The average rate on a 30- year, fixed-rate mortgage is still below 4%. At these rates, and with rising rents, Homeownership is now cheaper than Renting in all 100 of the largest U.S. metros by a wide margin, reported Trulia!
    7. 7. Historic Home Prices Remember, when adjusted for inflation, American home pricesincreased by an average of about half a percentage point per year from 1890 through 2008, according to data compiled by Yale University Professor Robert Shiller.(www.USNews.com/money - Luke Mullins, March 4, 2010)
    8. 8. Market Confidence Meter The Federal Reserve Bank of Philadelphia forecasts the New Jersey economy growing at more than 4.5% over the next six months.
    9. 9. With an eye to Moving This Year!If you are a Buyer,• with today’s low interest rates, hovering around 3.4% for 30-year fixed-rate mortgages, AFFORDABILITY is HIGH !• consult with an experienced New Jersey mortgage counselor to assess your buying power and position yourself in the market.If you are a Seller,• Pinpoint pricing is all important in this challenging market.• Professional staging can make all the difference in getting a good, negotiable offer.• Pre-inspections prevent later fall-throughs once you have a contract for sale!• Marketing for today’s buyers and the way they search for homes–on the INTERNET, makes all the difference.
    10. 10. Top Five Rules for Understanding the Real Estate Market: 1. Real Estate is Local 2. Real Estate is Local 3. Real Estate is Local 4. Real Estate is Local. 5. Real Estate is Local
    11. 11. Understand the Local Market That You are Buying into or Selling out of!
    12. 12. How do we assess strength and vitality in our real estate markets?By checking the “Absorption Rate.”This is the number of homes available divided by the number of homes that have gone under contract in the past 30 days. It is our most accurate measure of current market strength.
    13. 13. Sample Market Absorption Rate Anyt ow n., NJ 100 cur r ent act ive list ings 25 = Mont hs’ 4 r epor t ed sales in last 30 days absor pt ion r at e5-6 Months Market Absorption Rate indicates a normal market.
    14. 14. 14Market Absorption Scale (Absorption Rate in Months)
    15. 15. Market Scale for Supply & Demand Weichert, Realtors has been studying market 1 conditions for more than 3Market Absorption in Months decades and has found a 2 direct correlation between 3 market absorption rates and property values. 4 As absorption rates increase 5 beyond a normal market Normal level of 5-6 months, 6 property values depreciate annually. As they decrease 7 below 5 months, they increase—inverse 8 proportion. Although 9 different markets may not see the amount of decrease 10 shown here, the pressure on prices will be similar. 11 12
    16. 16. 3/4/13Towns Active Pending Absorption New Listings Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in in 30 Days (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months Market 30 Days ReducedWestWindsor: 64 24 2.7 22 (2) 12 18.8% 1 2 16All StylesWestWindsor 9 9 1.0 5 (4) 1 11.1% 1 1 4Condo/T.HousesWestWindsor 8 2 4.0 2 0 _ _ 0 0 355+WestWindsor 47 13 3.6 15 2 11 23.4% 0 1 9SingleFamilyLawrence:All Styles 144 12 12.0 48 36 18 12.5% 10 1 20Lawrence:Condo/ 41 5 8.2 17 12 7 17.1% 5 0 8THousesLawrence:55+ 9 0 99 1 1 _ _ 1 1 4Lawrence:Single 94 7 13.4 30 23 11 11.7% 4 0 8Family
    17. 17. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Reduced DaysPlainsboroAll Styles 65 17 3.8 25 8 7 11% 6 0 15PlainsboroCondo/ 28 7 4 8 1 4 14% 4 0 8THousesPlainsboro55+ 12 5 2.4 3 (2) 1 8% 1 0 3PlainsboroSingle 25 5 5 14 9 2 8% 1 0 4FamilyCranbury:All Styles 14 2 7 6 4 1 7% 2 0 0
    18. 18. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months 30 Days Market 30 Days ReducedEwing:All Styles 206 20 10 47 27 37 18% 10 4 14Ewing :Condo/ 29 5 6 11 6 5 17% 1 1 4T.HousesEwing55+: 6 2 3 0 2 --- --- 2 0 1Ewing:Single 171 13 13 36 23 32 19% 7 3 9FamilyEastWindsor: 141 22 6 38 16 19 13% 7 3 10All StylesEastWindsor: 71 15 5 13 -2 12 17% 7 3 3Condo/ThousesEastWindsor: 8 0 999 1 1 --- --- 0 0 155+EastWindsor: 62 7 9 24 17 7 11% 0 0 6SingleFamily
    19. 19. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months 30 Days Market 30 Days ReducedHopewellTwp. 137 14 9.8 46 32 16 11.7% 1 4 6All StylesHopewellTwp. Condo/ 6 4 1.5 5 1 1 16.7% 0 1 0T.HousesHopewellTwp.: 2 0 99 1 1 -- -- 0 0 055+Hopewell TwpSingle Family 129 10 12.9 40 30 15 11.6% 1 3 6 406 46 8.8 113 67 64 15.8% 17 13 50Hamilton: AllStyles 76 9 8.4 17 8 9 11.8% 4 3 14Hamilton:Condo/ THouses 26 3 8.7 6 3 -- -- 0 0 3Hamilton:55+ 304 34 8.9 90 56 55 18.1% 13 10 33Hamilton:Single Family
    20. 20. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months in 30 Market in 30 Reduced Days Days 76 17 4 27 10 15 20% 8 2 4RobbinsvilleAll Styles 31 10 3 10 0 7 23% 3 1 4RobbinsvilleCondo/T.Houses 45 7 6 17 10 8 18% 5 1 0Single Family 53 4 13 7 3 16 30% 2 3 1HightstownBoro: AllStyles 20 0 999 7 7 3 15% 3 1 0Pennington 8 1 8 3 2 2 25% 0 0 3Hopewell Boro
    21. 21. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Reduced Days 120 14 8.6 33 19 16 13.3% 3 2 6Princeton:All Styles 27 3 9 4 1 3 11.1% 1 1 3Princeton:Condo/ Thouses 93 11 8.5 29 18 13 14% 2 1 3Princeton:Single Family
    22. 22. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months 30 Days Market 30 Days ReducedSouthBrunswick 159 17 9 41 24 12 8 21 3 20All StylesSouthBrunswickCondo/ T.Houses 55 9 6 18 9 1 2 4 1 9SouthBrunswick 31 1 31 4 3 1 3 3 1 155+SouthBrunswick 73 7 10 19 12 10 14 14 1 10Single FamilyMonroe:All Styles 428 33 13 110 67 34 8 2 1 3Monroe:55+ 271 28 10 73 45 19 7 1 1 2Monroe:Single Family 157 5 30 37 32 15 10 1 0 1
    23. 23. 3/4/13Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Reduced Days 99 17 5.8 31 +14 12 12% 6 0 16MontgomeryAll Styles 15 6 2.5 6 0 1 6% 0 1 1MontgomeryCondo/Twnhms 84 11 7.6 25 +14 11 13% 6 0 15Single Family 174 46 3.8 52 +6 24 14% 7 4 27HillsboroughAll Styles 61 19 3.2 16 -3 13 21% 2 1 12HillsboroughCondo/Twnhms 113 27 4.2 36 +9 11 10% 5 3 15HillsboroughSingle Family
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