Want to know what the Princeton Real Estate market is doing…? Here it is. Want to know what this means? Come to our Market Seminar Presentation on Feb 2, 10:45 am. Find out the direction of the Princeton real estate market in 2013. Contact us to save your seat.
Take a look at the newest Princeton listings! They range from the mansions to the more modest but they are all quintessentially Princeton!
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by Tim McLaughlin, VP Weichert Financial Services
According to the results of Fannie Mae’s April 2012 National Housing Survey, Americans’ attitudes about homeownership, the economy and personal finances “continue to move incrementally in a positive direction.”
“This month’s survey shows a continued gradual improvement in consumer sentiment and outlook for home prices,” says Doug Duncan, vice president and chief economist of Fannie Mae. “
After flat-lining at depressed levels for over a year, a growing share of consumers indicate that it is a good time to sell, suggesting rising optimism for the housing market and for prospective purchasers.” On average, Americans expect home prices to increase 1.3% over the next year, and the percentage of Americans who say it is a good time to sell their home continued to rise to 15% in April (up from low, flat levels during 2011).
In turn, confidence in the economy’s direction rose to a survey all-time high in April, hitting 37%. Another positive trend, according to Fannie Mae, is the increased share of those who reported their income as “significantly higher” from 12 months ago, which is now at the highest level recorded over the past year and seven percentage points higher than those who reported income as “significantly lower.”
WFIF Economic team suggest that early reports show that the critical spring home buying season has gotten off to its best start in five years. “Sales of new single-family homes totaled 83,000 units during the first quarter, up 16 percent from a year ago, while sales of existing single-family homes rose 7.2 percent, marking the best combined pace for first quarter home sales since 2007. The rise in existing home sales has generated a little excitement, as news is spreading that homes sold outside the foreclosure process are often receiving multiple bids and selling above the asking price.”
“The first quarter is typically the slowest quarter of the year, with March being the only busy month. Inventories of existing homes have fallen to just a 6.3-months’ supply, and the inventory of unsold vacant homes has fallen by 353,000 units over the past year. Inventories of new homes continue to decline and are now at a paltry 144,000 units nationwide. Only about one-third of those homes are actually completed. With inventories dwindling, home prices have improved a bit.”
The Princeton Real Estate Market continues to be brisk with opportunities for both buyers and sellers.
Princeton Real Estate Activity the week of 5/6/12:
9 New Listings on the Market this week. A rare 5 bedroom home came on the market for less than $1 million this week!
8 Princeton homes went pending.
8 Princeton homes reduced their price this week.
Here are some quick happenings in the Princeton Real Estate Market for the week of 5/5/12
- There were 8 new listings in Princeton that came to the market this past week. The cheapest was listed at $549,000 and the most expensive was listed at $2.850 million.
- Two homes had price reductions this past week.
- 7 Princeton homes settled this week, the cheapest at $480,000 & the most expensive at $1.650 million.
- The average # of guests per Open House last week in Princeton for the past week was 9.3 people.
Looking for a home in Princeton? Click here to contact the experts or call us direct (609) 921-1900.
Are you thinking of buying or selling real estate in the Princeton area in the next 6 months? If so you need to be at the upcoming Princeton real estate market seminar.
This complimentry seminar will cover Princeton area inventory, absorption rate trends, the changing financial markets and more. Designed for both buyers and sellers, see what one of the over 1,000 people who have attended have said,
“As a neighboring business to Weichert, I stopped in to see what is happening with Princeton real estate. Mr. Wilton impressed me with powerful information gathered from his weekly analysis of all MLS sales and new listings. I’ve never seen an agency provide research of that quality and have such an understanding of the market. When I do decide to sell any of my NJ properties, that kind of analysis will help me best price my real estate investment and quickly convert my earnings into another useful investment.”
RSVP required: Joshua Wilton (o) 609-921-1900 x 103
To download a flyer re the seminar click here: