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Princeton Twp Market Update

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An update of the Princeton Township, NJ.

Published in: Real Estate, Education, Business
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Princeton Twp Market Update

  1. 1. Weichert, Princeton Office Offers analysis of the Princeton Township, NJ Market Trends.
  2. 2. 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
  3. 3. Princeton Twp. Inventory
  4. 4. Princeton Twp. Condo/Townhouses Inventory
  5. 5. Princeton Twp. Single Family Inventory
  6. 6. 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
  7. 7. 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.
  8. 8. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  9. 9. Princeton Twp. Condo/Townhouses Absorption Rate
  10. 10. Princeton Twp. Single Family Absorption Rate
  11. 11. 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
  12. 12. 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
  13. 13. Princeton Twp. Active YTD Listings v Pending Analysis
  14. 14. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
  15. 15. 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
  16. 16. Princeton Twp. Residential Transactions Settled: June 2009 Source: Trend MLS
  17. 17. Princeton Twp. Residential Transactions Settled: June 2009 Source: Trend MLS

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