This document summarizes the condo and townhouse market in Princeton, NJ in 2009. It provides data on inventory levels, absorption rates, average sale prices, and number of sales compared to previous years. The absorption rate, which is the number of months it would take to sell all current listings at the current sales rate, is a key indicator of market health. Absorption rates above 6 months indicate a slowing market with potential for price depreciation. Data on current absorption rates is given for both Princeton Borough and Township.

1. Weichert, Princeton Office Offers analysis of the Princeton, NJ Condo & Townhouse Market

5. Year to Date Princeton Condo & Townhouse Snapshot, 2009 Towns YTD 2007 YTD 2008 YTD 2009 Settled Units 57 23 22 Average Settled Price $583,912 $513,914 $567,724 Total Settled Volume $33,283,000 $11,306,100 $13,057,650 Average Sold Price/ Original Price 97.7% 97.8% 97.7%

6. Princeton Borough & Township Market Snapshot, 8/11/09 Towns Active Listings Pending Sales 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 -Boro Condo/ Thouses 12 0 99 0 0 4 33% 0 1 0 Pton Twp: Condo/ Thouses 20 3 6.7 2 -1 4 20% 3 1 2

7. Princeton Twp. Inventory (all styles)

8. Princeton Twp. Condo/Townhouses Inventory

9. Princeton Boro. Active Inventory (all styles)

10. Princeton Boro. Condo/Townhouses Active Inventory

11. Sample Market Absorption Rate 107 current active listings 4 reported sales in last 30 days = 24.3 months absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.

12. Market Scale for Supply & Demand High Supply/Low Demand Low Supply/High Demand Normal 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

13. Princeton Boro. Condo/Townhouses Absorption Rate

14. Princeton Twp. Condo/Townhouses Absorption Rate