Princeton Area Real Estata Data July 8 11

566 views
505 views

Published on

Current real estate market data for the Greater Princeton New Jersey Area

Published in: Real Estate, Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
566
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • 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.
  • Princeton Area Real Estata Data July 8 11

    1. 1. <ul><li>The National Association of Realtors reported that pending home sales rose 8.2 percent in May, pointing to higher housing activity in the second half of the year. </li></ul>Market Confidence Meter
    2. 2. <ul><li>According to the S&P/Case-Shiller Home Price Indices, U.S. home prices showed a March-to-April increase, the first rise in eight months. </li></ul>Market Confidence Meter
    3. 3. Historic Home Prices When adjusted for inflation, American home prices increased 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)
    4. 4. <ul><li>If you are a Buyer, </li></ul><ul><li>with today’s low interest rates AFFORDABILITY is still HIGH ! </li></ul><ul><li>consult with an experienced New Jersey mortgage counselor to assess your buying power and properly position yourself in the market. In this way, sellers will take your offers seriously! </li></ul><ul><li>If you are a Seller, </li></ul><ul><li>Pinpoint pricing is all important in this challenging market. </li></ul><ul><li>Professional staging can make all the difference in getting a good, negotiable offer. </li></ul><ul><li>Pre-inspections prevent later fall-throughs once you have a contract for sale! </li></ul><ul><li>Marketing for 2011 buyers and the way they search for homes makes all the difference </li></ul>With an eye to Moving This Year!
    5. 5. Top Five Rules for Understanding the Real Estate Market: <ul><li>Real Estate is Local </li></ul><ul><li>2. Real Estate is Local </li></ul><ul><li>Real Estate is Local </li></ul><ul><li>Real Estate is Local. </li></ul><ul><li>Real Estate is Local </li></ul>
    6. 6. Understand the Local Market That You are Buying into/ Selling out of…
    7. 7. 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 .
    8. 9. Market Scale for Supply & Demand Weichert has been studying market conditions for more than 3 decades and has found a direct correlation between market absorption and property values. As absorption rates increase beyond a normal market level of 5-6 months, property values depreciate annually. Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal
    9. 10. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Princeton Boro: All Styles 56 4 14 13 9 15 26.8% 3 4 10 Princeton Boro Condo/TH 24 2 12 5 3 6 25% 1 1 7 Princeton Boro Single Family 32 2 16 8 6 9 28.1% 2 3 3 Pton Twp: All Styles 189 12 15.7 33 21 51 27% 3 9 25 Pton Twp: Condo/ TH 21 3 7 3 0 6 28.6% 0 1 6 Pton Twp: Single Family 168 9 18.7 30 21 45 26.8% 3 8 19
    10. 11. 6/28/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Li1stings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings West Windsor: All Styles 135 26 5.2 37 11 38 28 6 5 19 West Windsor Condo/ T.Houses 23 3 7.7 6 3 2 9 1 0 6 West Windsor 55+ 11 0 - 3 3 - - 1 0 0 West Windsor Single Family 101 23 4.4 28 5 36 36 4 5 13 Lawrence: All Styles 237 15 15.8 38 23 68 29 8 8 19 Lawrence: Condo/ THouses 77 7 11 16 9 29 38 3 5 7 Lawrence: 55+ 15 1 15 1 0 - - 0 0 2 Lawrence: Single Family 145 7 20.7 21 14 39 27 5 3 10
    11. 12. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings PlainsboroAll Styles 112 11 10 29 18 23 20% 10 0 28 Plainsboro Condo/ THouses 65 6 10.8 16 10 12 18% 7 0 13 Plainsboro 55+ 13 2 6.5 4 2 2 15% 1 0 2 Plainsboro Single Family 34 3 11.33 9 6 9 26% 2 0 13 Cranbury: All Styles 27 2 13.5 7 5 6 22% 2 0 3
    12. 13. 6/28/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Ewing: All Styles 327 17 19.2 56 39 88 27 9 11 17 Ewing : Condo/ T.Houses 47 2 23.5 7 5 17 36 0 2 1 Ewing 55+: 14 0 - 1 1 - - 0 0 0 Ewing: Single Family 266 15 17.7 48 33 71 27 9 9 16 EWindsor: All Styles 250 10 25 37 27 74 29.6% 12 7 17 EWindsor: Condo/ THouses 148 4 37 19 15 41 31.8% 7 6 10 EWindsor: 55+ 12 0 99 1 1 -- -- 0 0 2 EWindsor: Single Family 90 6 15 17 11 33 36.7% 5 1 5
    13. 14. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Robbinsv’le All Styles 178 18 10 29 11 52 29% 5 5 15 Robbinsv’le Condo/ T.Houses 73 10 7 7 (3) 28 38% 2 2 7 Robbinsv’le Single Family 105 8 13 22 14 24 23% 3 3 8 Hightstown 85 4 21 6 2 27 32/5 6 0 4 Pennington 19 2 9 5 3 6 32% 0 2 3 Hopewell Boro 15 2 8 3 1 5 33% 0 1 4
    14. 15. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Hopewell Twp. All Styles 192 7 27 34 27 61 32% 6 13 14 Hopewell Twp. Condo/ T.Houses 14 1 14 3 2 7 50% 1 0 4 Hopewell Twp.: 55+ 9 0 9 1 1 -- -- 0 1 0 Hopewell Twp Single Family 169 6 28 30 24 54 32% 5 12 10 Hamilton All Styles 697 2 348.5 18 16 212 30% 0 2 6 Hamilton Condo/ TH 108 1 108 7 6 36 33% 0 1 3 Hamilton 55+ 48 1 48 9 8 -- -- 0 1 3 Hamilton Single Family 541 0 99 2 2 176 32.5% 0 0 0
    15. 16. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings South Brunswick All Styles 318 16 19.9 63 47 102 32 45 1 33 South BrunswickCondo/TH 101 6 16.8 26 14 13 13 16 0 15 South Brunswick 55+ 36 0 99 7 3 29 80 3 0 2 South Brunswick Single Fam 177 10 17.7 30 34 60 34 26 1 16 Monroe: All Styles 565 33 17.1 122 21.5 123 22 59 8 78 Monroe: 55+ 354 25 14 89 25 80 23 38 4 61 Monroe: Single Fam 211 8 26.4 33 15.6 43 20 21 4 16
    16. 17. 7/5/11 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W’drawn Listings Closed Listings Montgomery All Styles 183 24 7.6 40 +16 59 32% 9 10 34 Montgomery Condo/TH 31 3 10.3 7 +4 8 26% 2 1 2 MontgomerySingle Fam 152 21 7.2 33 +12 51 33% 7 9 32 Hillsborough All Styles 308 48 6.4 67 +19 75 24% 10 15 34 Hillsborough Condo/TH 115 12 9.6 23 +11 28 24% 2 10 11 Hillsborough Single Fam 193 36 5.7 44 +8 47 24% 8 5 23

    ×