Not able to attend our Princeton Real Estate Market Update? Here are some of the slides presented tonight.
Where is the hottest spot in the Princeton, NJ Real Estate market?
If you break down the homes that sold in Princeton by price you can see the that the under $1 million market is the hottest part of the market.
In Princeton, homes under $1 million sold in an incredible 17.5 days and retained over 98% of their asking price.
For Princeton sellers $1-2 million homes took 121 days to sell and they retained 97% of their asking price.
For Princeton sellers $2 million+ the homes took an average of 241 days to sell and the sellers retained only 87% of their asking price.
Want to see Princeton homes for sale under $1 million? Take a look below.
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Who is the market leader in the Princeton, NJ Real Estate market? Weichert, Realtors is. We have the best internet strategy, the best marketing platform, the best Open House program and the best Associates. We sell Princeton. Call us to find out how we can help you buy and sell in the Princeton market. 609-921-1900.
Want to know the direction of the spring market in Princeton and the surrounding towns? Be our guest at an upcoming Seminar on April 29th, 10:45 am. Seating is limited so RSVP is required to email@example.com
This Week’s Mortgage News
Consumer confidence is on the rise, according to The Conference Board which reported that its Consumer Confidence Index® rose 9.5 points in March. The index now stands at its highest level since December 2000. In addition, Americans’ assessment of present conditions, their expectations for the next six months and their outlook for the labor market also rose.
“Consumers’ assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.” Call Carlos Machado in the Princeton office for the most up to date mortgage information available. 609-921-1900
Want to know what is happening in real estate markets in and around Princeton, NJ? Why are homes in Princeton and the surrounding towns selling so quickly? Inventory…or the lack of it.
As the slide below depicts inventory in Princeton and the surrounding towns is down dramatically. On the week of March 25th in 2011 Princeton had 180 available homes for sale. The pace of sales at the time would have taken 27 months to sell that inventory (Absorption Rate or Ab Rate in the slide below). Fast forward to the same week of March 25th 2017 and Princeton only has 102 homes for sale with 6.4 month Absorption Rate. That is 78 fewer homes for sale in the same week and they are selling three times as fast!
Hamilton is down 242 homes for sale (40% lower). Lawrenceville is down 77 homes for sale (37% lower). Ewing is down 126 homes for sale (46%) and so on right through the local markets.
Across the board in the major real estate markets in and around Princeton the big story of the spring market is and will be inventory….or the lack of it.
We have an upcoming Real Estate Licensing class in the Princeton location with scholarship opportunities. You could have your license in as little as three weeks! Call Josh Wilton for details. 609-455-1702.