Greater Princeton NJ Area Real Estate Markets

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)

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

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 Spring!

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 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.

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.

1/18/11Towns 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

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-BoroSingle 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

1/18/11Towns Active





Li1stings Reduced in 30 Days


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 Windsor55+

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

1/18/11Towns Active







Expired Listings

W/drawn Listings

Closed Listings

PlainsboroAll Styles

50 3 16.7 14 11 7 14% 10 0 5

PlainsboroCondo/ THouses

28 2 14 10 8 2 7% 6 0 3

Plainsboro55+

7 0 7 1 1 0 0 2 0 1

PlainsboroSingle 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

1/18/11Towns Active







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

1/18/11Towns Active







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

1/18/11Towns Active







Expired Listings

W/drawn Listings

Closed Listings

Montgomery

All Styles107 12 8.9 11 -1 14 13% 15 6 15

Montgomery

Condo/Twnh24 3 8 3 0 7 29% 2 2 5

Single Family 83 9 9.2 8 -1 7 8% 13 4 10

Hillsborough

All Styles247 26 9.5 42 +16 28 11% 34 13 16

Hillsborough

Condo/Twnh84 12 7 17 +5 14 16% 13 6 5

Hillsborough

Single Family

163 14 11.6 25 +11 14 8% 21 7 11

1/18/11Towns Active







Expired Listings

W/drawn Listings

Closed Listings

RobbinsvilleAll Styles 133 12 11 18 6 26 20% 12 4 12

RobbinsvilleCondo/ 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