Greater Princeton NJ Area Real Estate Markets

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Data on regional Princeton NJ area real estate

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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.
  • Greater Princeton NJ Area Real Estate Markets

    1. 1. 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)
    2. 2. Home Prices Now Now, however, as a result of many economic factors since 2008, the median American home prices have settled back to 2003 levels. Source: Case Schiller Non-Seasonally Adjusted Composite 20 U.S. Home Price Index as of March 2010
    3. 3. <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 Spring!
    4. 4. 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>
    5. 5. Understand the Local Market That You are Buying into/ Selling out of…
    6. 6. How do we assess vitality in our real estate markets? By checking the Absorption Rate . It is the number of homes available in the market 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 .
    7. 8. 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
    8. 9. 1/18/11 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 29 2 14.5 4 2 2 6.9% 5 3 4 Pton -Boro Condo/ Thouses 12 1 12 2 1 1 8.3% 1 1 1 Pton-Boro Single Family 17 1 17 2 1 1 5.9% 4 2 3 Pton Twp: All Styles 111 4 27.8 14 10 5 4.5% 5 3 11 Pton Twp: Condo/ Thouses 20 2 10 3 1 1 5% 0 1 3 Pton Twp: Single Family 91 2 45.5 11 9 4 4.4% 5 2 8
    9. 10. 1/18/11 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 72 6 12 10 4 12 16.7% 9 9 1` West Windsor Condo/ T.Houses 19 3 6.3 5 2 3 15.8% 3 0 1 West Windsor 55+ 3 0 99 1 1 -- -- 0 1 4 West Windsor Single Family 50 3 16.7 4 1 9 18% 6 8 15 Lawrence: All Styles 186 4 46.5 31 27 28 15.1% 12 5 18 Lawrence: Condo/ THouses 66 1 66 12 11 10 15.2% 5 2 5 Lawrence: 55+ 11 0 99 1 1 -- -- 2 0 1 Lawrence: Single Family 109 3 36.3 18 15 18 16.5% 5 3 12
    10. 11. 1/18/11 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 50 3 16.7 14 11 7 14% 10 0 5 Plainsboro Condo/ THouses 28 2 14 10 8 2 7% 6 0 3 Plainsboro 55+ 7 0 7 1 1 0 0 2 0 1 Plainsboro Single Family 15 1 15 3 2 5 33% 2 0 1 Cranbury: All Styles 23 1 23 1 0 3 13% 2 0 1 Cranbury: 55+ 1 0 99 1 1 0 0 1 0 0 Cranbury: Single Family 22 1 22 0 -1 3 13% 1 0 1
    11. 12. 1/18/11 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 244 4 61 26 22 37 15.2% 26 7 10 Ewing : Condo/ T.Houses 37 2 18.5 5 3 5 13.5% 3 0 0 Ewing 55+: 8 0 99 0 0 -- -- 0 0 0 Ewing: Single Family 199 2 99.5 21 19 32 16.1% 23 7 10 East Windsor: All Styles 189 3 63 16 13 37 19.6% 25 3 2 East Windsor: Condo/ THouses 125 2 62.5 10 8 29 23.2% 17 3 1 East Windsor: 55+ 12 0 99 0 0 -- -- 6 0 0 East Windsor: Single Family 52 1 52 6 5 8 15.4% 2 0 1
    12. 13. 1/18/11 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 126 8 15.75 10 2 20 16% 11 4 10 Hopewell Twp. Condo/ T.Houses 8 3 3 1 -2 3 37.5% 1 0 4 Hopewell Twp.: 55+ 9 0 9 1 1 -- -- 0 0 0 Hopewell Twp Single Family 109 5 22 8 3 17 15.5% 10 4 6 Hamilton: All Styles 549 25 22 86 61 99 14% 55 16 43 Hamilton: Condo/ THouses 100 5 20 17 12 21 21% 9 3 4 Hamilton: 55+ 32 1 32 3 2 -- -- 3 0 3 Hamilton: Single Family 417 19 23 66 47 78 19% 43 13 36
    13. 14. 1/18/11 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 107 12 8.9 11 -1 14 13% 15 6 15 Montgomery Condo/Twnh 24 3 8 3 0 7 29% 2 2 5 Single Family 83 9 9.2 8 -1 7 8% 13 4 10 Hillsborough All Styles 247 26 9.5 42 +16 28 11% 34 13 16 Hillsborough Condo/Twnh 84 12 7 17 +5 14 16% 13 6 5 Hillsborough Single Family 163 14 11.6 25 +11 14 8% 21 7 11
    14. 15. 1/18/11 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 Robbinsville All Styles 133 12 11 18 6 26 20% 12 4 12 Robbinsville Condo/ T.Houses 60 4 15 10 6 10 17% 7 2 4 RobbinsvilleSingle Family 73 8 9 8 0 16 22% 5 2 8 Hightstown All Styles 52 0 99 6 6 8 15% 7 1 0 Pennington 9 3 3 0 (3) 0 0 2 1 3 Hopewell Boro 13 2 6.5 0 (2) 3 23% 0 1 3

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