1. Princeton Area
Real Estate Market Update
October 2018
Josh Wilton
Weichert Realtors

2. Agenda
The Market, State, County and Local
Process and Strategies for Buyers and Sellers
Real Estate Market Update
Agenda

3. Real Estate follows the
jobs

4. Market Update

5. Market Update

6. Real estate experts and economists agree sellers will continue to hold the cards
 With inventory at historically low levels and demand for housing skyrocketing in
most markets, economic analysts and real estate experts believe 2018 will be
the Year of the Seller.
 Analysts forecasted yet another year in which a scarcity of homes for sale will
allow sellers to keep prices high, especially as a growing segment of
1st
time millennial buyers take the homeownership plunge.
 The inventory drought will continue to be enough of a factor to keep supplies
below normal. Most markets will continue to
be sellers’ markets, especially for
entry-level homes (affordable), hotter
markets and markets where prices
are high and new construction is
costly
Will 2018 be a Buyer’s Market or a Seller’s
Market?
Market Update
Source: Inman.com 12/26/17

7. First-Time Homebuyers make up
Majority of 2017 (2018) Home buyers*
• 52% First Time Homebuyers
• 61% Millennial Buyers (35
years and under)

8. The boom….The New Jersey MarketThe Statewide Picture

9. Listings 2018 Pending Sales 2018

10. Closed Homes2018

11. The Local Markets
Real Estate is Local
It’s Local to the County
It’s Local to the Town
It’s Local to the Price Point
It’s Local to the Neighborhood/Development
It’s Local to the Street
Real Estate is Local

13. The boom….The Local MarketThe Local Picture

14. Long Term Demand …
Source: NAR, November 2008 Forecast
http://lwd.dol.state.nj.us/labor/lpa/pub/factbook/merfct.pdf
Long Term Demand for Housing

15. http://lwd.dol.state.nj.us/labor/lpa/content/njsdc/2013WU%20PopLFProj2030.pdf

16. Mercer/ Middlesex County
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Convenience/Town Center/Lifestyle
4. Affordability
5. Schools
6. Trains

17. Plainsboro
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Convenience/Town Center/Lifestyle
4. Affordability
5. Schools
6. Trains

18. Source: Middlesex MLS

20. Source: NJAR 10K Research Data
Plainsboro, Year over Year

21. Plainsboro Market Activity
Single Family Homes
Average Sale Price
Source: Middlesex MLS

22. Plainsboro Market Activity
Single Family Homes
Average Days on Market
Source: Middlesex MLS

23. Plainsboro Market Activity
Condos & Townhouses
Average Sale Price
Source: Middlesex MLS

24. Plainsboro Market Activity
Condos & Townhouses
Average Days on Market
Source: Middlesex MLS

25. Plainsboro Market Activity
Walker Gordon Farm
Average Sale Price
Source: Middlesex MLS

26. Plainsboro Market Activity
Walker Gordon Farm
Average Days on Market
Source: Middlesex MLS

27. Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Sale Price
Source: Middlesex MLS

28. Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Days on Market
Source: Middlesex MLS

29. Plainsboro Market Activity
Princeton Landing
Single Family Average Sales Price
Source: Middlesex MLS

30. Plainsboro Market Activity
Princeton Landing
Single Family Average DOM
Source: Middlesex MLS

31. Source: NJAR 10K Research Data
Plainsboro 1/1/18-09/30/18
Plainsboro 1/1/17-09/30/17

34. Plainsboro
All Styles

35. Source: NJAR 10K Research Data
West Windsor
Train
Schools
Lifestyle
Affordability

36. Source: Middlesex MLS

38. Source: NJAR 10K Research
WW, Year over Year

39. West Windsor Market Activity
Single Family Homes
Average Sale Price
Source: Trend MLS

40. West Windsor Market Activity
Single Family Homes
Average Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

41. West Windsor Market Activity
Single Family Homes
List to Sale Price Ratio
Source: Trend MLS

42. West Windsor Market Activity
Condos & Townhouses
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

43. West Windsor Market Activity
Condos & Townhouses
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

44. West Windsor Market Activity
Condos & Townhouses
List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

45. West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

46. West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

47. West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

48. West Windsor Market Activity
Canal Pointe – Single Family
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018

49. West Windsor Market Activity
Canal Pointe – Single Family
Average Days on Market
Source: Trend MLS

50. West Windsor Market Activity
Canal Pointe – Single Family
List to Sale Price Ratio
Source: Trend MLS

51. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Sale Price
Source: Trend MLS

52. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Days on Market
Source: Trend MLS

53. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
List to Sale Price Ratio
Source: Trend MLS

54. West Windsor Market Activity
Single Family – 0-$650,000
Average Sales Price
Source: Trend MLS

55. West Windsor Market Activity
Single Family – 0-$650,000
Average Days on Market
Source: Trend MLS

56. West Windsor Market Activity
Single Family – 0-$650,000
List to Sale Price Ratio
Source: Trend MLS

57. West Windsor Market Activity
Single Family – $650,000-$874,999
Average Sales Price
Source: Trend MLS

58. West Windsor Market Activity
Single Family – $650,000-$874,999
Average Days on Market
Source: Trend MLS

59. West Windsor Market Activity
Single Family – $650,000-$874,999
List to Sales Price Ratio
Source: Trend MLS

60. West Windsor Market Activity
Single Family – $875,000-$1,100,000
Average Sales Price
Source: Trend MLS

61. West Windsor Market Activity
Single Family – $875,000-$1,100,000
Average Days on Market
Source: Trend MLS

62. West Windsor Market Activity
Single Family – $875,000-$1,100,000
List to Sales Price Ratio
Source: Trend MLS

63. Source: NJAR 10K Research Data
West Windsor 1/1/18-09/30/18
West Windsor 1/1/17-09/30/17

65. West Windsor
All Styles

66. East Windsor
Train
Schools
Lifestyle
Affordability

68. Source: NJAR 10K Research DataSource: NJAR 10K Research
EW, Year over Year

69. East Windsor
SF Average Sale Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

70. East Windsor SF
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

71. East Windsor SF
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

72. East Windsor CT
Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

73. East Windsor CT
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

74. East Windsor CT
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

75. East Windsor CT
Single Family 0-$399,999 Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

76. East Windsor CT
0-$399 Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

77. East Windsor CT
0-$399 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

78. East Windsor CT
$400-$699 Avg Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

79. East Windsor CT
$400-$699 Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

80. East Windsor CT
$400-$699 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

81. East Windsor
Cranbury Manor
Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

82. East Windsor
Cranbury Manor
Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

83. East Windsor
Cranbury Manor
List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018

84. Source: NJAR 10K Research Data
East Windsor 1/1/18-09/30/18
East Windsor 1/1/17-09/30/17

86. East Windsor
All Styles

87. Source: NJAR 10K Research Data
Lawrenceville
Train
Schools
Lifestyle
Affordability

88. Source: https://education.state.nj.us/pr/

89. Source: NJAR 10K Research Data
Law, Year over Year

90. LawrencevilleMarket Activity
SingleFamily Homes
AverageSalePrice
2012 2013 2015
Source: TrendMLS
2014 2016 2017 2018

91. LawrencevilleMarket Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS
2012 2013 20152014 2016 2017 2018

92. LawrencevilleMarket Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017 2018

93. LawrencevilleMarket Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS

94. LawrencevilleMarket Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2013 20152014 2016 20172012 2018

95. LawrencevilleMarket Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017 2018

96. LawrencevilleMarket Activity
SingleFamily $500,000+
AverageSalePrice
Source: TrendMLS

97. LawrencevilleMarket Activity
SingleFamily $500,000+
Dayson Market
Source: TrendMLS

98. LawrencevilleMarket Activity
SingleFamily $500,000+
List to SalePriceRatio
Source: TrendMLS

99. LawrencevilleMarket Activity
Adult Communities
AverageSalePrice
Source: TrendMLS

100. LawrencevilleMarket Activity
Adult Communities
AverageDOM
Source: TrendMLS

101. LawrencevilleMarket Activity
Adult Communities
List to SalePriceRatio
Source: TrendMLS

102. LawrencevilleMarket Activity
Yorkshire
AverageSalesPrice
Source: TrendMLS

103. LawrencevilleMarket Activity
Yorkshire
AverageDayson Market
Source: TrendMLS

104. LawrencevilleMarket Activity
Yorkshire
List to SalePriceRatio
Source: TrendMLS

105. LawrencevilleMarket Activity
EaglesChase
AverageSalesPrice
Source: TrendMLS

106. LawrencevilleMarket Activity
EaglesChase
AverageDayson Market
Source: TrendMLS

107. LawrencevilleMarket Activity
EaglesChase
List to SalePriceRatio
Source: TrendMLS

108. LawrencevilleMarket Activity
LawrencevilleGreen
AverageSalesPrice
Source: TrendMLS

109. LawrencevilleMarket Activity
LawrencevilleGreen
AverageDayson Market
Source: TrendMLS

110. LawrencevilleMarket Activity
LawrencevilleGreen
List to SalePriceRatio
Source: TrendMLS

111. Source: NJAR 10K Research Data
Lawrenceville 1/1/18-09/30/18
Lawrenceville 1/1/17-09/30/17

113. Lawrence
All Styles

114. Source: NJAR 10K Research DataSource: NJAR 10K Research
Princeton
Train
Schools
Lifestyle
Affordability

116. Source: NJAR 10K Research Data
Pton, Year over Year

117. Princeton Market Activity
Single Family Average Sale Price
Source: TrendMLS

118. Princeton Market Activity
Single Family Average Days on Market
Source: TrendMLS

119. Princeton Market Activity
Single Family List to Sale Price Ratio
Source: TrendMLS

120. Princeton Condo/ Townhouse
Average Sales Price
Source: TrendMLS

121. Princeton Condo/ Townhouses
Average Days on Market
Source: TrendMLS

122. Princeton Condo/Townhouse
List to Sale Price Ratio
Source: TrendMLS

123. Princeton Single Family
Under $1 million Average Sales Price
Source: TrendMLS

124. Princeton Single Family Homes
Under $1 million Average Days on Market
Source: TrendMLS

125. Princeton Single Family
Under $1 million List to Sales Price Ratio
Source: TrendMLS

126. Princeton Single Family
$1-1.9 million Average Sales Price
Source: TrendMLS

127. Princeton Single Family
$1-1.9 million Days on Market
Source: TrendMLS

128. Princeton Single Family
$1-1.9 million List to Sales Price Ratio
Source: TrendMLS

129. Princeton Single Family
$1-1.5 million Average Sales Price
Source: TrendMLS

130. Princeton Single Family
$1-1.5 million Days on Market
Source: TrendMLS

131. Princeton Single Family
$1-1.5 million List to Sales Price Ratio
Source: TrendMLS

132. Princeton Single Family
$1.5-1.99 million Average Sales Price
Source: TrendMLS

133. Princeton Single Family
$1.5-1.99 million Days on Market
Source: TrendMLS

134. Princeton Single Family
$1.5-1.99 million List to Sales Price Ratio
Source: TrendMLS

135. Princeton Single Family
$2 million + Average Sales Price
Source: TrendMLS

136. Princeton Single Family
$2 million Days on Market
Source: TrendMLS

137. Princeton Single Family
$2 million List to Sales Price Ratio
Source: TrendMLS

138. Princeton Single Family
$3 million+ Average Sales Price
Source: TrendMLS

139. Princeton Single Family
$3 million+ Days on Market
Source: TrendMLS

140. Princeton Single Family
$3 million+ List to Sale Price Ratio
Source: TrendMLS

141. Princeton Single Family
Littlebrook Neighborhood
Average Sales Price
Source: TrendMLS

142. Princeton Single Family
Littlebrook Neighborhood
Average Days on Market
Source: TrendMLS

143. Princeton Single Family
Littlebrook Neighborhood
List to Sale Price Ratio
Source: TrendMLS

144. Princeton Single Family
Riverside Neighborhood
Average Sales Price
Source: TrendMLS

145. Princeton Single Family
Riverside Neighborhood
Average Days on Market
Source: TrendMLS

146. Princeton Single Family
Riverside Neighborhood
List to Sale Price Ratio
Source: TrendMLS

147. Princeton Single Family
Witherspoon-Jackson Historic District
Average Sales Price
Source: TrendMLS

148. Princeton Single Family
Witherspoon-Jackson Historic District
Days on Market
Source: TrendMLS

149. Princeton Single Family
Witherspoon-Jackson Historic District
List to Sales Price Ratio
Source: TrendMLS

150. Princeton Single Family
Washington Oaks
Condo Townhouse
Average Sales Price
Source: TrendMLS

151. Princeton Single Family
Washington Oaks
Condo Townhouse
Days on Market
Source: TrendMLS

152. Princeton Single Family
Washington Oaks
Condo Townhouse
List to Sales Price Ratio
Source: TrendMLS

153. Princeton Single Family
Ettl Farm
Average Sales Price
Source: TrendMLS

154. Princeton Single Family
Ettl Farm
Average DOM
Source: TrendMLS

155. Princeton Single Family
Ettl Farm
List to Sales Price Ratio
Source: TrendMLS

156. Princeton Single Family
Fieldwood Manors Condo/Townhouse
Average Sales Price
Source: TrendMLS

157. Princeton Single Family
Fieldwood Manors Condo/Townhouse
Average DOM
Source: TrendMLS

158. Princeton Single Family
Fieldwood Manors Condo/Townhouse
List to Sales Price Ratio
Source: TrendMLS

159. Princeton Township
Griggs Farm Condo/Townhouse
Average Sales Price
Source: TrendMLS

160. Princeton
Griggs Farm Condo/Townhouse
Average Days on Market
Source: TrendMLS

161. Princeton
Griggs FarmCondo/Townhouse
List to Sales Price Ratio
Source: TrendMLS

163. Source: NJAR 10K Research Data
Princeton 1/1/18-09/30/18
Princeton 1/1/17-09/30/17

164. Princeton
All Styles

165. Source: NJAR 10K Research DataSource: NJAR 10K Research
Ewing
Train
Schools
Lifestyle
Affordability

166. https://www.niche.com/k12/d/ewing-township-public-schools-nj/#report-card
Source: NJAR 10K Research

167. Source: NJAR 10K Research Data
Ewing, Year over Year

168. Ewing Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018

169. Ewing Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS

170. Ewing Market Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS

171. Ewing Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS

172. Ewing Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS

173. Ewing Market Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS

174. Source: NJAR 10K Research Data
Ewing 1/1/18-09/30/18
Ewing 1/1/17-09/30/17

176. Ewing
All Styles
Style Active Listings
Under Contract in
30 Days
Absorption Rate
0-150 42 8 5.25
150-299 66 20 3.3
300-400 13 4 3.25
400+ 2 1 2

177. Hamilton
Train
Schools
Lifestyle
Affordability

178. Source: NJAR 10K Research

179. Source: NJAR 10K Research Data
Hamilton, Year over Year

180. Hamilton Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS

181. Hamilton Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS

182. Hamilton Market Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS

183. Hamilton Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
2012 2013 2015 201720162014 2018

184. Hamilton Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018

185. Hamilton Market Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018

186. Source: NJAR 10K Research Data
Hamilton 1/1/17-09/30/17
Hamilton 1/1/18-09/30/18

188. https://www.niche.com/k12/d/hopewell-valley-regional-school-district-nj/
Hopewell

189. Hopewell Twp
Single Family Average Sale Price
Source: Trend MLS
2012 2013 2014 20162015 2017 2018

190. Hopewell Twp
Single Family
Average Days on Market
Source: Trend MLS

191. Hopewell Twp
Single Family
List to Sale Price Ratio
Source: Trend MLS

192. Hopewell Twp
Condo/Townhouse
Average Sale Price
Source: Trend MLS

193. Hopewell Twp.
Condo/Townhouse
Average Days on Market
Source: Trend MLS

194. Hopewell Twp
Condo/Townhouse
List to Sale Price Ratio
Source: Trend MLS
2018
2018

195. Hopewell Twp
Brandon Farms Single Family
Average Sale Price
Source: Trend MLS

196. Hopewell Twp
Brandon Farms Single Family
Average Days on Market
Source: Trend MLS

197. Hopewell Twp
Brandon Farms Single Family
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017 2018

198. Hopewell Twp
Brandon Farms Condo/Townhouse
Average Sale Price
Source: Trend MLS

199. Hopewell Twp
Brandon Farms Condo/Townhouse
Average Days on Market
Source: Trend MLS

200. Hopewell Twp
Brandon Farms Condo/Townhouse
List to Sale Price Ratio
Source: Trend MLS

201. Hopewell Twp
$800,000+
Average Sales Price
Source: Trend MLS

202. Hopewell Twp
$800,000+
Average Days on Market
Source: Trend MLS

203. Hopewell Twp
$800,000+
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017 2018

204. Source: NJAR 10K Research Data
Hopewell 1/1/18-09/30/18
Hopewell 1/1/17-09/30/17

206. Hopewell
All Styles
Hopewell Twp
Week 10/20/2018
Style
Active
Listing
UC in
30 D Abs. Rate
All Styles 149 32 4.7
Condo 1 0 99.0
Townhouse 16 6 2.7
Adult C/T 0 1 0.0
Adult SFM 1 4 0.3
Single Family
<300K 4 3 1.3
Single Family
300K to
450K 22 6 3.7
Single Family
450K to
600K 23 7 3.3
Single Family
600K to
750K 28 4 7.0
Single Family
750K to
900K 25 0 #DIV/0!
Single Family
900K to 1

207. Montgomery Twp, NJ
Real Estate Trends

210. Montgomery Woods
Average Sales Price
Source: Garden State MLS

211. Montgomery Woods
Days on Market
Source: Garden State MLS

212. Montgomery Woods Market Activity
List to Sale Price Ratio
Source: Garden State MLS

213. Montgomery Hills Market Activity
Average Sale Price
Source: Garden State MLS

214. Montgomery Hills Market Activity
Average Days on Market
Source: Garden State MLS

215. Montgomery Hills Market Activity
List to Sale Price Ratio
Source: Garden State MLS

216. Princeton Village Market Activity
Average Sale Price
Source: Garden State MLS

217. Princeton Village Market Activity
Average Days On Market
Source: Garden State MLS

218. Princeton Village Market Activity
List to Sale Price Ratio
Source: Garden State MLS

219. Montgomery Twp Market Activity
Cherry Valley
Average Sales Price
Source: Garden State MLS

220. Montgomery Twp Market Activity
Cherry Valley
Average Days on Market
Source: Garden State MLS

221. Montgomery Twp Market Activity
Cherry Valley
List to Sale Price Ratio
Source: Garden State MLS

222. Montgomery Twp Market Activity
Single Family Homes
Average Sales Price
Source: Garden State MLS

223. Montgomery Twp Market Activity
Single Family Homes
Average DOM
Source: Garden State MLS

224. Montgomery Twp Market Activity
Single Family Homes
List to Sales Price Ratio
Source: Garden State MLS

225. Source: NJAR 10K Research Data
Montgomery 1/1/18-09/30/18
Montgomery 1/1/17-09/30/17

226. Montgomery
Week
Style
Active
Listing
UC in
30 D Abs. Rate
All Styles 121 16 7.6
Townhouse
/Condo 10 4 2.5
Adult Comm 0 0 #DIV/0!
Single Family
<400K 9 2 4.5
Single Family
400K to 500K 14 1 14.0
Single Family
500K to 600K 14 3 4.7
Single Family
600K to 700K 15 2 7.5
Single Family
700K to 850K 20 2 10.0
Single Family
850K to 1 Mil 14 1 14.0
Single Family
1 to 1.2 Mil 13 0 99.0
Single Family
1.2 to 1.5 Mil 7 1 7.0
Single Family
> 1.5 Mil 5 0 99.0
10/20/2018

227. Executive Summary
South Brunswick
Local Real Estate Trends

229. SingleFamily Homes
AverageSalePrice
Source: Middlesex MLS

230. South Brunswick Market Activity
SingleFamily Homes
AverageDayson Market
Source: Middlesex MLS

231. South Brunswick Market Activity
SingleFamily Under $400,000
AverageSalesPrice
Source: Middlesex MLS

232. South Brunswick Market Activity
SingleFamily Under $400,000
AverageDOM
Source: Middlesex MLS

233. Princeton Walk
Condos& Townhouses
AverageSalesPrice
Source: Middlesex MLS

234. Princeton Walk
Condos& Townhouses
AverageDayson Market
Source: Middlesex MLS

235. Princeton Walk Market Activity
SingleFamily
AverageSalesPrice
Source: Middlesex MLS

236. Princeton Walk Market Activity
SingleFamily
AverageDOM
Source: Middlesex MLS

237. Source: NJAR 10K Research Data
South Brunswick 1/1/17-09/30/17
South Brunswick 1/1/18-09/30/18

238. Source: NJAR 10K Research Data
S Brunswick
Week
Style
Active
Listing
UC in 30
D
Abs.
Rate
All Styles 179 40 4.5
Condo 13 5 2.6
Townhouse 57 10 5.7
Adult C/T 2 0 99.0
Adult SFM 12 4 3.0
Single Family
<300K 12 2 6.0
Single Family
300K to 450K 23 10 2.3
Single Family
450K to 600K 17 5 3.4
Single Family
600K to750K 18 0 99.0
Single Family
750K to 850K 10 1 10.0
Single Family
850K to 1 Mil 9 1 9.0
Single Family
> 1Mil 6 2 3.0
10/20/2018

239. Strategies for
Buying and Selling
in Today’s Market

240. When’s the best time to Buy/Sell?
Source: Trend MLS

241. Open House Report

242. Open House Report
Lawrenceville
Week
Style
Active
Listing
UC in
30 D
Abs.
Rate
All Styles 157 26 6.0
Condo 14 3 4.7
Townhouse 12 3 4.0
Adult Comm 10 3 3.3
Single Family
<250K 17 8 2.1
Single Family
250K to 350K 25 0 99.0
Single Family
350K to 450K 30 3 10.0
Single Family
450K to 550K 21 2 10.5
Single Family
550K to 700K 16 2 8.0
Single Family
700K to 1 Mil 7 1 7.0
Single Family
> 1Mil 5 1 5.0
10/20/2018

243. Financial Services
Carlos A. Machado
Gold Services Manager
Princeton Office
NMLS #4384
Weichert Financial Services
908-307-8317
cmachado@weichertfinancial.com

244. •For Sellers: To make sure they have all the
information they need to choose an offer
•For Buyers: Buying Strategy, Buying Power &
Documentation
My Job…

245. As the seller, do I get to
see the pre-approval
letter?
• The Pre-approval letter must be with all the offers.
• Cash deals should be accompanied with a "proof of funds" which is a bank
statement or letter from the bank or escrow agent
• Make sure the letter is not a pre-qualification (this is only an opinion letter)
• Let me help you review and confirm the pre-approvals you have when you go to
select an offer

246. 8 Offers on a Listing……

247. 2018
Top Buyer Negotiating Strategies…
1.Get out now, before the Spring springs, Pay Now or Pay
More Later (based on core market, schools, trains and towns)
2.Don’t Wait to Offer on an ‘Over-Priced’ Home, its fun to
negotiate 1:1
3.Use an Escalation Clause in High-Demand Markets & in
multiple bid situations
4. ‘Thin Slice’ the Market. Get hyper local (ab rate,
inventory, pricing etc)

251. $1,589 $1,786 $1,889

253. Buyer Negotiation Tips in a Fast Market
1. Understand the process before you start shopping.
2. Have mortgage pre-approval from a local, respected,
reliable lender
3. Put a significant amount in escrow if possible
4. Be as flexible as possible with your closing date
5. Remove as many contingencies as possible (inspection,
appraisel, etc)
6. Use an Escalation Clause

254. Weichert Financial
Carlos Alberto Machado
Gold Service Manager
cmachado@weichertfinancial.com
908-307-8317
Princeton Office
NMLS#4384

255. Use my App To Partner
with Me
Text to: 36260
‘Carlos Machado’
You will get my app.
Calculator, Pre Approval Updates, Rate Updates
& More

256. 2018
Top Seller Strategies…
1.Stage it (Pretty it Up)
2.Fix it First (Pre Inspect)
3.Price it Right (Set the Market)
4.Stay in Control

257. All Negotiations, including real estate, are all about negotiation
and control.
Home Pricing
Who is in control?

258. The process of preparing homes for sale
regardless of price, location, or condition
to achieve the maximum sales price in the
minimum marketing time.
The goal is to appeal to the broadest range of
BUYERS.
What is Home Staging?

259. Clean & In Good Repair

260. “Wow…. I could live here!”

261. Buyers Only Know What They See …

262. Buyers Only Know What They See …

263. … Not The Way It Is Going To Be.

264. Home Staging
*Based on a StagedHomes.com survey of over 400 homes across Canada & the Continental US prepared for sale by an Accredited Staging Professional (ASP™) from June 2007 through November 2007.
The average increase in sales price of an ASP
Staged vs. non-Staged home is
8.9%
That is an additional $40,000 on a
$450,000 sale
“The investment in home staging is always less than your first
price reduction!”

265. 22 Dogwood Princeton
Non Staged Suggested
Price: $1.009m
Staged Suggested Price:
$1.323
Staged ($20k)
Sold: $1.326/ 12 days

266. All Negotiations, including real estate, are all about negotiation
and control.
Home Staging
Who is in control?

267. Fall Thru Analysis
Reason for Fall Thru Total # Fall Thrus % of Total Fall Thrus
Home Inspection 659 39.2%
Buyer Financing 416 24.8%
Buyer Changed Mind 185 11.0%
Attorney Review 72 4.3%
Appraisal 71 4.2%
Contingency of buyer/seller house purchase 44 2.6%
Short Sale Declined 39 2.3%
Another offer (buyer) came in 30 1.8%
Seller Changed Mind 23 1.4%
HOA Docs or Board not approved 21 1.3%
Buyer/Seller Passed Away or illness 14 0.8%
Foreclosure or Bankruptcy 14 0.8%
Title Issues 13 0.8%
Deal Came Back together & Closed or Set to Close 11 0.7%
Other 36 2.1%
Unknown 31 1.8%
Total 1679* 100%

268. The Impact of Inspection & Repairs
on the Salability of Your Home..…
A Certified Home Inspector’s report will review:
Condition of the home's HVAC, Plumbing and Electrical Systems
The roof, attic, and visible insulation
Walls, ceilings, floors, windows and doors
The foundation, basement, and visible structure
It will also advise if any potential environmental hazards were observed

269. • Why do a Pre-Inspection?
• Fix/ Disclose/ Permit EVERYTHING before going on market
• Removes buyer objections/ fears
• Reduce the risk of going ‘off market’ for a buyer who ends
up killing the deal
• You stay in control
Pre-Inspection

270. All Negotiations, including real estate, are all about negotiation
and control.
Pre - Inspection
Who is in control?

271. • Promotes a sense of urgency among buyers &
agents (fear of loss)
• Generates interest and showings
• Sets the stage for multiple offers in the first 30 days
• Offers tend to be higher in relation to list price
• Results in highest price in shortest time
Effects of “Right” Pricing

272. • Buyer excitement diminishes quickly
• Extends time house is on the market
• Results in price reductions
• May attract “bargain hunters” and discounted offers
• Results in a lower selling price
Effects of Over Pricing:

273. Negotiations are about leverage, use the listing
price as yours…
PTA suggested Market Value of
$840,000
Ab Rate of 12.5 months
Listed at $799,500
1 day on the market
4 Offers
Bidding wrapping up today
The seller had control
West Windsor

274. Negotiations are about leverage, use the listing
price as yours…
5 Lost Trail: listed by another Broker on
7/31/16 for $695,000. Decrease price
on 9/24/16 to $650,000. Listing with
Broker expired on 2/28/2017 after
being on the market for 216 days.
Wct listed their property on 4/7/2017 at
$680,000. Used Professional
photography & 3D Matterport,
recommended contractor work to be
done, used professional staging,
Property went to pending on 4-22-
17------closed on 5-19-17 at $10,000
over listed price $690,000 after
receiving multiple offers.
Lawrence

275. Princeton
36 Mercer St.
The Price Trend Analysis suggested Market Value of $1.250
We recommended listing at $1.1 million

276. Princeton
36 Mercer St.
• Pre-inspection
• Staged
• Right Pricing
Sold for $1.350 million, cash in 7 days. No contingencies.

277. Hamilton
1715 Silver Ct.
Hamilton N J 08690
2 Bedroom 1.5 Baths
Presented at $115,000
Listed 6/5/17---
1 open house 6/10/17 received multiple offers starting
6/11/17 at full asking and then at over asking contract
signed on 6/14/17---Closing date of 7/17/17

278. Hamilton
Two other units on the
market for sale in the
same community-1 at
$122,000 was on
originally at $129,000
so far for 166 days.
(listing broker placed this one
photo on the Internet)

279. Hamilton
---the other at
$112,900 so far on for
66 days
(listing broker placed
one photo on the MLS)

280. Negotiations are about leverage, use the listing
price as yours…
Listed at $544,900
Reduced to $535,000
Reduced to $509,000
Reduced to $499,000
96 Days on Market
1 Offer
Sold for $490,000
The buyer had control

281. Weichert Family of Companies
What will a real
estate company do
for me?

283. Making Your Purchase as
Smooth as Possible
Buying a home involves the careful
coordination of many people.
Choosing a real estate team you can
count on will make the process smoother
and easier.

284. Thank You.

285. Resource and Website ListResource and Website List
www.trendmls.com
www.realtor.org
www.njar.com
www.Otteau.com
www.Pre-listing-inspection.com
www.Housemaster.com
www.Stagingshoppingcenter.com
www.realtytrac.com
www.njar.com/10k
www.keepingcurrentmatters.com
https://education.state.nj.us/pr/