Princeton Boro Market Update
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Report on the state of the Princeton Borough, NJ real estate market. Offers insights into inventory trends, sales patterns and price trends.
![Prepared by: Joshua D Wilton Broker/ Sales Associate Weichert, Princeton O 609-921-1900 [email_address]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Princeton Boro Market Update
- 1. Weichert, Princeton Office Offers analysis of the Princeton Borough, NJ Market Trends.
- 2. Prepared by: Joshua D Wilton Broker/ Sales Associate Weichert, Princeton O 609-921-1900 [email_address]
- 6. Princeton Boro. Active Inventory
- 7. Princeton Boro. Condo/Townhouses Active Inventory
- 8. Princeton Boro. Single Family Active Inventory
- 10. Town by Town Analysis 7/127/09 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 Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5
- 11. 4. Absorption Rate The Effect of ‘Absorption Rate’ on the Housing Market 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.
- 12. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
- 13. Town by Town Analysis 7/127/09 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 Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5
- 14. Princeton Borough Absorption Rate By Price Active Listings Pending in Last 30 Days Absorption Rate in Months 0-$500 8 1 8 $500-750k 8 3 2.6 $750-999 7 2 3.5 $999-$1.5 million 11 0 99 $1.5 million + 13 1 13
- 16. Princeton Twp. Condo/Townhouses Absorption Rate
- 17. Princeton Twp. Single Family Absorption Rate
- 19. Town by Town Analysis 7/127/09 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 Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5
- 20. Princeton Boro. Active YTD Listings v Pending Analysis
- 22. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
- 23. Princeton Borough Market Statistics Source: Trend MLS
- 24. Princeton Twp. Residential Transactions Settled: June 2009 Source: Trend MLS