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Princeton Area Real Estate Market Data
 

Princeton Area Real Estate Market Data

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Date on the Greater Princeton NJ area real estate market as of January 17, 2012

Date on the Greater Princeton NJ area real estate market as of January 17, 2012

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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.

Princeton Area Real Estate Market Data Princeton Area Real Estate Market Data Presentation Transcript

    • Sales of Existing Homes were UP 5% in December, their third consecutive gain, to their highest level since last January!
    Market Confidence Meter
    • The Commerce Department said overall housing starts are up 24.9% from a year ago, with single-family housing starts up 11.6%.
    Market Confidence Meter
  • Lawrence Yun, Chief Economist for the National Association of Realtors reports that “Housing affordability conditions are at a record high, and there is pent-up demand from buyers who’ve been on the sidelines. Market Confidence Meter
    • The Labor Department reported Unemployment claims for the week ending January 14 hit the lowest level since April 2008 , with the 4-week average decreasing to 379,000.
    Market Confidence Meter
  • 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)
    • If you are a Buyer,
    • with today’s low interest rates AFFORDABILITY is HIGH !
    • 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!
    • 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.
    With an eye to Moving This Year!
  • Top Five Rules for Understanding the Real Estate Market:
    • Real Estate is Local
    • 2. Real Estate is Local
    • Real Estate is Local
    • Real Estate is Local.
    • Real Estate is Local
  • Understand the Local Market That You are Buying into/ Selling out of…
  • 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.
  •  
  • Market Absorption Scale (Absorption Rate in Months)
  • Market Scale for Supply & Demand Weichert, Realtors has been studying market conditions for more than 3 decades and has found a direct correlation between market absorption rates and property values. As absorption rates increase beyond a normal market level of 5-6 months, property values depreciate annually. As they decrease below 5 months, they increase—inverse proportion. Although different markets may not see the amount of decrease shown here, the pressure on prices will be similar. Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal
  • 1/17/12 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 34 2 17 3 1 2 5.9% 0 0 0 Pton -Boro Condo/ Thouses 22 1 22 3 2 1 4.5% 0 0 0 Pton-Boro Single Family 12 1 12 0 -1 1 8.3% 0 0 0 Pton Twp: All Styles 101 2 50.5 9 7 6 5.9% 0 0 1 Pton Twp: Condo/ Thouses 18 0 99 2 2 0 0% 0 0 0 Pton Twp: Single Family 83 2 41.5 7 5 6 7.2% 0 0 1
  • 1/17/12 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 West Windsor: All Styles 88 9 9.8 25 16 17 19.3% 6 6 17 West Windsor Condo/ T.Houses 16 3 5.3 6 3 6 37.5% 1 3 5 West Windsor 55+ 9 3 3 1 (2) _ _ 0 0 1 West Windsor Single Family 63 3 21 18 15 11 17.4% 5 3 11 Lawrence: All Styles 161 6 26.8 28 22 19 11.8% 15 12 15 Lawrence: Condo/ THouses 50 2 25 8 6 11 22% 5 6 9 Lawrence: 55+ 13 0 99 3 3 _ _ 0 0 2 Lawrence: Single Family 98 4 24.5 17 13 8 8.2% 10 6 4
  • 1/17/12 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 122 7 17.4 24 17 18 14.8% 12 9 6 Hopewell Twp. Condo/ T.Houses 8 2 4 3 1 1 12.5% 2 1 1 Hopewell Twp.: 55+ 6 0 99 1 1 _ _ 1 0 0 Hopewell Twp Single Family 108 5 21.7 20 15 17 15.7% 9 8 5 Hamilton: All Styles 534 22 24.3 77 55 95 17.8% 53 18 43 Hamilton: Condo/ THouses 95 1 95 7 6 22 23.2% 12 1 4 Hamilton: 55+ 32 2 16 10 8 _ _ 5 2 5 Hamilton: Single Family 407 19 21.4 60 41 73 17.9% 36 15 34
  • 1/17/12 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 239 13 18 26 13 43 18% 25 2 13 Ewing : Condo/ T.Houses 26 3 8.7 1 -2 4 15% 1 0 2 Ewing 55+: 11 0 999 2 2 --- --- 0 0 0 Ewing: Single Family 202 10 20 23 13 39 19% 24 2 10 East Windsor: All Styles 184 8 23 17 9 23 13% 27 7 11 East Windsor: Condo/ THouses 105 6 18 10 4 11 10% 19 2 4 East Windsor: 55+ 13 0 999 0 0 --- --- 1 1 1 East Windsor: Single Family 66 2 33 7 5 12 18% 7 4 6
  • 1/17/12 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 106 15 7 22 7 10 9% 23 13 15 Robbinsv’le Condo/ T.Houses 45 7 6 8 1 3 6% 11 1 9 Robbinsv’le Single Family 61 8 8 14 6 7 11% 12 12 6 Hightstown Boro 49 6 8 9 3 5 10% 4 5 10 Pennington 19 0 99 3 3 6 32% 2 2 1 Hopewell Boro 7 1 7 0 (1) 0 0 1 0 2
  • 1/17/12 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 208 10 21 31 22 22 11 37 2 19 South BrunswickCondo/ T.Houses 77 6 13 19 13 9 12 14 1 7 South Brunswick 55+ 35 0 99 1 1 3 9 2 0 1 South Brunswick Single Family 96 4 24 11 7 10 10 21 1 11 Monroe: All Styles 439 27 16 76 49 3 .06 54 1 57 Monroe: 55+ 282 19 15 54 35 25 9 28 0 44 Monroe: Single Family 157 8 20 22 14 15 10 26 1 13
  • 1/17/12 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 88 13 6.8 17 +4 12 14% 14 6 11 Montgomery Condo/TH 16 3 5.3 2 -1 2 12% 2 1 2 Single Family 72 10 7.2 15 +5 10 14% 12 5 9 Hillsborough All Styles 231 14 15.4 28 +14 14 6% 29 12 25 Hillsborough Condo/TH 88 5 17.6 12 +7 5 6% 15 4 6 Hillsborough Single Family 143 9 15.9 16 +7 9 6% 14 8 19