The Gale at Godrej Park World Hinjewadi Pune Brochure.pdf
6.30.09
1. • Weichert, Princeton Market
Update
• Prepared exclusively for the
Weichert Princeton Associates
every week.
• Town by town data available at
www.slideshare.net
2. Agenda
• Understanding the Market Change
• What is happening in the market
• Comparison of 2007 v 2009: Market
Activity
• Current Market Data
• Price Trend Analysis
• A Plan to Move Forward
5. Listings from the MLS in Weichert Market Areas
Increase % 2008 from 2007
NY/CT (Ashby) +.09%
Passaic/Hudson/Bergen NJ (Bixon) -2.54%
Western Central NJ/Lehigh Valley PA (McDonald) -3.12%
Northern and Central NJ (Prevete) -1.10%
Eastern Central/Shore Points NJ (Waters) -3.85%
Southern NJ (Williams) +.78%
In our local area (CT/NY/NJ. Lehigh Valley, PA), the number of homes for sale (Weichert
and non-Weichert listings) has steadily increased over the past four years.
8. 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Princeton Boro:
All Styles 48 11 4.3 7 (4) 8 16% 5 1 10
Pton -Boro
Condo/ Thouses 12 2 6 3 1 2 16% 1 1 1
Pton-Boro
Single Family 36 9 4 4 (5) 6 16% 4 0 9
Pton Twp: All
Styles 151 21 7.19 36 15 25 17% 5 9 14
Pton Twp:
Condo/ Thouses 23 3 7.6 4 1 4 17% 0 1 5
Pton Twp:
Single Family 128 18 7.1 32 14 21 16% 5 8 9
9. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in Gain Reduced Invent. Listings Listings Listings
30 Days Months 30 Days (Loss) to in 30 Days Reduced
Market
West
Windsor:
123 45 2.7 30 (15) 47 38 6 5 36
All Styles
West
Windsor
23 15 1.5 9 (6) 11 47 0 2 12
Condo/
T.Houses
West
Windsor
6 0 99 - - - - - -
55+
West
Windsor
94 30 3.1 21 (9) 36 38 6 3 24
Single
Family
Lawrence:
All Styles
182 38 4.7 38 0 59 32 17 2 20
Lawrence:
Condo/
85 17 5 24 7 24 28 6 2 14
THouses
Lawrence:
55+
12 0 99 - - - - - - -
Lawrence:
Single
85 21 4 14 (7) 35 41 11 0 6
10. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Days Reduced
Ewing:
All Styles
230 31 7.4 61 30 60 26 22 5 23
Ewing :
Condo/
44 9 4.8 9 0 15 34 2 2 5
T.Houses
Ewing:
55+
1 0 99 0 0 0 0 0 0 0
Ewing:
Single
185 22 8.4 52 30 45 24 20 3 18
Family
East
Windsor:
202 31 6.5 50 19 49 24 19 5 30
All Styles
East
Windsor:
104 17 6.1 34 17 21 20 8 3 18
Condo/
THouses
East
Windsor:
19 0 99 0 0 0 0 0 0 0
55+
East
Windsor:
81 14 5.7 16 2 28 34 11 2 12
Single
Family
11. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Hopewell Twp.
All Styles 174 21 8 28 7 49 28% 15 5 12
Hopewell Twp.
Condo/ T.Houses 24 7 3 10 3 7 29% 2 2 2
Hopewell Twp.:
55+ 4 0 99 - - - - - - -
Hopewell Twp:
Single Family 146 14 10 18 4 42 29% 13 3 10
Hamilton: All
Styles 591 112 5 136 24 153 26% 31 25 55
Hamilton:
Condo/ THouses 101 28 4 34 6 35 35% 11 5 10
Hamilton:
Single Family 449 79 6 102 23 118 26% 20 20 45
Hamilton: 55+
41 5 8 - - - - - - -
-
12. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
=
Robbinsville
All Styles 119 19 6 29 10 27 23% 10 3 16
Robbinsville
Condo/ 57 10 5.7 19 9 16 28% 4 3 8
T.Houses
Robbinsville
55+ - - - - - - - - - -
Single
62 9 7 10 1 11 18% 6 0 8
Hightstown
Boro: All Styles 55 6 9 14 8 13 24% 2 2 2
Pennington
Boro: 29 1 29 8 7 6 23% 0 1 1
All Styles
Hopewell Boro:
All Styles 14 4 3.5 1 (3) 3 21% 0 0 3
13. Market Activity: Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in Gain Reduced Invent. Listings Listings Listings
30 Days Months 30 Days (Loss) in 30 Reduced
to Days
Market
Plainsboro
All Styles
91 16 5.6 34 18 20 21% 11 0 29
Plainsboro
Condo/
54 3 18 24 21 13 24% 4 0 17
THouses
Plainsboro
55+
10 2 5 2 0 4 4% 0 0 0
Plainsboro
Single
27 11 2,4 8 (4) 3 11% 7 0 12
Family
Cranbury:
All Styles
24 2 12 4 2 3 8% 0 0 1
Cranbury:
55+
4 1 4 0 (1) 0 0 0 0 0
Cranbury:
Single
20 1 20 4 3 3 15% 0 0 1
Family
14. Market Activity: Town by Town Analysis 6/24/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/draw Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings n Listings
30 Days Months 30 Days Market in 30 Reduced Listings
Days
South
Brunswick 227 88 3 51 (37) 79 34% 16 16 29
All Styles
South
BrunswickCon 71 29 7 19 (20) 15 21% 5 9 12
do/ T.Houses
South
Brunswick 34 5 7 3 (2) 2 5% 0 0 0
55+
South
Brunswick 122 54 2 29 (25) 16 13% 11 7 17
Single Family
Monroe:
All Styles 509 89 6 96 7 144 28% 27 12 3
Monroe:
55+ 345 46 7 45 (1) 113 33% 16 4 2
Monroe:
Single Family 164 43 4 31 8 31 18% 11 8 1
15. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Montgom.
160 35 4.5 47 12 38 24% 9 9 22
Hillsboro
260 40 6.5 83 43 57 22% 14 10 36
Rocky Hill
413 1 13 0 (1) 1 7.6% 0 0 1
Franklin
16. Princeton Boro. Active YTD Listings v Pending Analysis
80
70
60 Princeton Boro Active
Listings
50
Princeton Boro Pendings
40
30 Princeton Boro Price
20 Reductions
10
0
26. Hamilton Active YTD Listings v Pending Analysis
700
600
500
Hamilton Actives
400
Hamilton Pendings
300
Hamilton Reductions
200
100
0
27. Myth: If I reduce my price, buyers
will wait for another reductions.
Reality: There is a direct relationship
between price improvements and
contracts.
29. Relationship of Price Reductions to
‘Pending Sales’
120
100
80
West Windsor Pendings
60
West Windsor Reductions
40
20
0
Source: trend mls
30. Relationship of Price Reductions to
‘Pending Sales’
100
90
80
70
60
Lawrence Pendings
50
40
Lawrence Reductions
30
20
10
0
Source: trend mls
31. Understand the Market You are
Selling Out of or Buying In to…
Anytown., NJ
107 current active listings 24.3
= months
4 reported sales in last 30 days absorption
rate
5-6 Months Market Absorption Rate indicates a normal market.
32. Market Absorption Rate
Comparable Properties
Princeton Twp.
$4+ bedroom
13 current active listings 99 month
=absorption
0 reported ‘pending’ sales in last 30 days rate
5-6 Months Market Absorption Rate indicates a normal market.
33. Market Absorption Rate
Comparable Properties
Princeton Twp.
$4+ bedroom colonials
11 current active listings 99 months
=absorption
0 reported ‘pending’ sales in last 30 days rate
5-6 Months Market Absorption Rate indicates a normal market.
34. Market Absorption Rate
Specific Comps
4+ bedroom
Jefferson, Moore, Walnut, Harris only
7 current active listings 3.5 months
=absorption
2 reported ‘pending’ sales in last 30 days rate
5-6 Months Market Absorption Rate indicates a normal market.
35. Market Absorption Rate
Specific Comps
Lawrence, NJ
$450-550
Colonials Only
12 current active listings 12 months
=absorption
1 reported ‘pending’ sales in last 30 days rate
5-6 Months Market Absorption Rate indicates a normal market.
36. Market Scale for Supply & Demand
High Supply/Low Demand Low Supply/High Demand
Normal
1
Market Absorption in Months
2 Weichert has been
studying market
3
conditions for more than
4 3 decades and has found a
direct correlation between
5
Normal
market absorption and
6 property values.
7 As absorption rates
increase beyond a normal
8 market level of 5-6
9 months, property values
depreciate annually.
10
11
12
37.
38. Let’s look at your competition
• Properties currently in competition with yours
for buyer attention
• Properties that have caught buyer attention in
the last 30 days.
• At this rate, how many months will it take for
the current buyer demand to absorb the current
listing supply in this sector of the market?
39. Progress in Marketing Your Home
• Broker open house
• Public open houses
• Agent showings Bottom line . . .
• Internet activity Our experience is that an
• Agent feedback average of 30 showings on a
property, usually brings an
• Buyer feedback
offer.
41. A Plan for Moving Forward
• The market is telling us, by the absence of offers,
to generate fresh interest by repositioning your
home
• This will bring a whole new group of buyers
• Your home will stand out among all other
properties
• Competitively priced homes are selling
42. Price to hit the market not chase it
500000
490000
Your Listing
480000
Your Listing
470000
460000
450000
Market
440000
430000
Market
420000
Market
410000
400000
1 mos 2 mos 3 mos 4 mos 5 mos 6 mos 7 mos
43. Current Market Price
Based on the available data and the increasing inventory combined with falling
prices, I would recommend a price of $###,### for your home.
