Princeton Twp Market Update
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Princeton Twp Market Update

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An update of the Princeton Township, NJ.

An update of the Princeton Township, NJ.

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    Princeton Twp Market Update Princeton Twp Market Update Presentation Transcript

    • Weichert, Princeton Office Offers analysis of the Princeton Township, NJ Market Trends.
    • Town by Town Analysis 7/19/09 Towns Active Listings (inventory) 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 Pton Twp: All Styles 146 17 9 26 7 32 22% 11 11 23 Pton Twp: Condo/ Thouses 22 3 7 4 1 2 9% 1 1 4 Pton Twp: Single Family 124 14 9 22 8 30 24% 10 10 19
    • Princeton Twp. Inventory
    • Princeton Twp. Condo/Townhouses Inventory
    • Princeton Twp. Single Family Inventory
    • Town by Town Analysis 7/19/09 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 Pton Twp: All Styles 146 17 9 26 7 32 22% 11 11 23 Pton Twp: Condo/ Thouses 22 3 7 4 1 2 9% 1 1 4 Pton Twp: Single Family 124 14 9 22 8 30 24% 10 10 19
    • The Effect of ‘Absorption Rate’ on the Housing Market 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 Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
    • Princeton Twp. Condo/Townhouses Absorption Rate
    • Princeton Twp. Single Family Absorption Rate
    • Princeton Township Absorption Rate By Price Inventory Price Point Active Listings Pending in Last 30 Days Absorption Rate in Months 0-$500 12 1 12 $500-999k 54 4 13.5 $999-1.5 29 1 29 $1.5-2.5 34 1 34 $2.5 + 21 1 21
    • Town by Town Analysis 7/19/09 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 Pton Twp: All Styles 146 17 9 26 7 32 22% 11 11 23 Pton Twp: Condo/ Thouses 22 3 7 4 1 2 9% 1 1 4 Pton Twp: Single Family 124 14 9 22 8 30 24% 10 10 19
    • Princeton Twp. Active YTD Listings v Pending Analysis
    • Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
    • Town by Town Analysis 7/19/09 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 Pton Twp: All Styles 146 17 9 26 7 32 22% 11 11 23 Pton Twp: Condo/ Thouses 22 3 7 4 1 2 9% 1 1 4 Pton Twp: Single Family 124 14 9 22 8 30 24% 10 10 19
    • Princeton Twp. Residential Transactions Settled: June 2009 Source: Trend MLS
    • Princeton Twp. Residential Transactions Settled: June 2009 Source: Trend MLS