princeton area real estata data july 8 11
DESCRIPTION
Current real estate market data for the Greater Princeton New Jersey AreaTRANSCRIPT
•The National Association of Realtors reported that pending home sales rose 8.2
percent in May, pointing to higher housing
activity in the second half of the year.
Market Confidence Meter
According to the S&P/Case-Shiller Home Price Indices, U.S. home prices showed a March-
to-April increase, the first rise in eight months.
Market Confidence Meter
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)
If you are a Buyer,
• with today’s low interest rates AFFORDABILITY is still HIGH !
• 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!
If you are a Seller,
• Pinpoint pricing is all important in this challenging market.
• Professional staging can make all the difference in getting a good, negotiable offer.
• Pre-inspections prevent later fall-throughs once you have a contract for sale!
• Marketing for 2011 buyers and the way they search for homes makes all the difference
With an eye to Moving This Year!
Top Five Rules for Understanding the Real
Estate Market:1. Real Estate is Local2. Real Estate is Local3. Real Estate is Local
4. Real Estate is Local.5. Real Estate is Local
Understand the Local Market That
You are Buying into/ Selling out of…
How do we assess strength and vitality in our real estate markets?
By checking the “Absorption Rate.” This is the number of homes available
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.
Sample Market Absorption RateSample Market Absorption Rate
100 current active listings
4 reported sales in last 30 days=
25Months’
absorptionrate
Anytown., NJ
5-6 Months Market Absorption Rate indicates a normal market.
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Market Scale for Supply & DemandMarket 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.
7/5/11Towns Active
ListingsPending 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
56 4 14 13 9 15 26.8% 3 4 10
PrincetonBoroCondo/TH
24 2 12 5 3 6 25% 1 1 7
PrincetonBoroSingle Family
32 2 16 8 6 9 28.1% 2 3 3
Pton Twp: All Styles 189 12 15.7 33 21 51 27% 3 9 25
Pton Twp: Condo/ TH 21 3 7 3 0 6 28.6% 0 1 6
Pton Twp:Single Family
168 9 18.7 30 21 45 26.8% 3 8 19
6/28/11Towns Active
ListingsPending 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
135 26 5.2 37 11 38 28 6 5 19
West Windsor Condo/ T.Houses
23 3 7.7 6 3 2 9 1 0 6
West Windsor55+
11 0 - 3 3 - - 1 0 0
West Windsor Single Family
101 23 4.4 28 5 36 36 4 5 13
Lawrence: All Styles
237 15 15.8 38 23 68 29 8 8 19
Lawrence:Condo/THouses
77 7 11 16 9 29 38 3 5 7
Lawrence: 55+
15 1 15 1 0 - - 0 0 2
Lawrence: Single Family
145 7 20.7 21 14 39 27 5 3 10
7/5/11
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
112 11 10 29 18 23 20% 10 0 28
PlainsboroCondo/ THouses
65 6 10.8 16 10 12 18% 7 0 13
Plainsboro55+
13 2 6.5 4 2 2 15% 1 0 2
PlainsboroSingle Family
34 3 11.33 9 6 9 26% 2 0 13
Cranbury:All Styles
27 2 13.5 7 5 6 22% 2 0 3
6/28/11Towns Active
ListingsPending 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
327 17 19.2 56 39 88 27 9 11 17
Ewing : Condo/ T.Houses
47 2 23.5 7 5 17 36 0 2 1
Ewing 55+:
14 0 - 1 1 - - 0 0 0
Ewing:Single Family
266 15 17.7 48 33 71 27 9 9 16
EWindsor:All Styles
250 10 25 37 27 74 29.6% 12 7 17
EWindsor:Condo/ THouses
148 4 37 19 15 41 31.8% 7 6 10
EWindsor:55+
12 0 99 1 1 -- -- 0 0 2
EWindsor: Single Family
90 6 15 17 11 33 36.7% 5 1 5
7/5/11Towns Active
ListingsPending 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
Robbinsv’leAll Styles 178 18 10 29 11 52 29% 5 5 15
Robbinsv’le Condo/ T.Houses
73 10 7 7 (3) 28 38% 2 2 7
Robbinsv’le
Single Family
105 8 13 22 14 24 23% 3 3 8
Hightstown 85 4 21 6 2 27 32/5 6 0 4
Pennington 19 2 9 5 3 6 32% 0 2 3
Hopewell Boro 15 2 8 3 1 5 33% 0 1 4
7/5/11Towns Active
ListingsPending 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
192 7 27 34 27 61 32% 6 13 14
Hopewell Twp. Condo/ T.Houses
14 1 14 3 2 7 50% 1 0 4
Hopewell Twp.:55+
9 0 9 1 1 -- -- 0 1 0
Hopewell Twp Single Family
169 6 28 30 24 54 32% 5 12 10
Hamilton All Styles
697 2 348.5 18 16 212 30% 0 2 6
HamiltonCondo/ TH
108 1 108 7 6 36 33% 0 1 3
Hamilton55+
48 1 48 9 8 -- -- 0 1 3
Hamilton Single Family
541 0 99 2 2 176 32.5% 0 0 0
7/5/11Towns Active
ListingsPending 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
South
Brunswick
All Styles
318 16 19.9 63 47 102 32 45 1 33
South BrunswickCondo/TH
101 6 16.8 26 14 13 13 16 0 15
South Brunswick
55+
36 0 99 7 3 29 80 3 0 2
South Brunswick
Single Fam
177 10 17.7 30 34 60 34 26 1 16
Monroe:
All Styles565 33 17.1 122 21.5 123 22 59 8 78
Monroe:
55+354 25 14 89 25 80 23 38 4 61
Monroe:
Single Fam211 8 26.4 33 15.6 43 20 21 4 16
7/5/11Towns Active
ListingsPending 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 Styles183 24 7.6 40 +16 59 32% 9 10 34
Montgomery
Condo/TH31 3 10.3 7 +4 8 26% 2 1 2
MontgomerySingle Fam 152 21 7.2 33 +12 51 33% 7 9 32
Hillsborough
All Styles308 48 6.4 67 +19 75 24% 10 15 34
Hillsborough
Condo/TH115 12 9.6 23 +11 28 24% 2 10 11
Hillsborough
Single Fam193 36 5.7 44 +8 47 24% 8 5 23