Weichert, Princeton Office Offers analysis of the Princeton, NJ Condo & Townhouse Market
Princeton Townhouses Report
Nov 02, 2014
Report on the Princeton townhome market
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Weichert, Princeton Office
Offers analysis of the Princeton, NJ Condo &
Townhouse Market
• Princeton Condo & Townhouse Market Report
• Prepared By: Josh Wilton, Weichert Realtors
Princeton, NJ0 (609) 921-1900
• 2007 v 2009 Market Review• Current Snapshot of the Condo &
Townhouse Market• Inventory Trends• Absorption Rate Breakdown & Trends;
AgendaAgenda
Year to Date Princeton Condo & Townhouse Snapshot, 2009
Towns YTD 2007 YTD
2008
YTD
2009
Settled Units 57 23 22
Average Settled Price
$583,912 $513,914 $567,724
Total Settled Volume
$33,283,000 $11,306,100 $13,057,650
Average Sold Price/ Original Price
97.7% 97.8% 97.7%
Princeton Borough & Township Market Snapshot, 8/11/09
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
Pton -Boro Condo/ Thouses
12 0 99 0 0 4 33% 0 1 0
Pton Twp: Condo/ Thouses
20 3 6.7 2 -1 4 20% 3 1 2
Princeton Twp. Inventory (all styles)
020406080
100120140160180
Twp. Inventory
Princeton Twp. Condo/Townhouses Inventory
0
5
10
15
20
25
30
35
Princeton Township C/T Inventory
Princeton Boro. Active Inventory (all styles)
01020304050607080
Boro Activities
Princeton Boro. Condo/Townhouses Active Inventory
0
2
4
6
8
10
12
14
16
Princeton Boro C/T Inventory
Sample Market Absorption RateSample Market Absorption Rate
107 current active listings
4 reported sales in last 30 days=
24.3months
absorptionrate
Anytown., NJ
5-6 Months Market Absorption Rate indicates a normal market.
Market Scale for Supply & Market Scale for Supply & DemandDemand
High Supply/Low Demand Low Supply/High DemandNormal
Ma
rke
t A
bso
rpti
on
in M
on
ths 1
2
3
4
5
6
7
8
9
10
11
12
No
rma
l
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.
Princeton Boro. Condo/Townhouses Absorption Rate
0
20
40
60
80
100
120
Princeton Boro C/T Absorption Rate
Princeton Twp. Condo/Townhouses Absorption Rate
0
20
40
60
80
100
120
12
/29
/20
08
1/5
/20
09
1/1
2/2
00
91
/19
/20
09
1/2
6/2
00
92
/2/2
00
92
/9/2
00
92
/16
/20
09
2/2
3/2
00
93
/2/2
00
93
/9/2
00
93
/16
/20
09
3/2
3/2
00
93
/30
/20
09
4/6
/20
09
4/1
3/2
00
94
/20
/20
09
4/2
7/2
00
95
/4/2
00
95
/11
/20
09
5/1
8/2
00
95
/25
/20
09
6/1
/20
09
6/8
/20
09
6/1
5/2
00
96
/22
/20
09
6/2
9/2
00
97
/6/2
00
97
/13
/20
09
7/2
0/2
00
97
/27
/20
09
8/3
/20
09
Princeton Township C/T Absorption Rate
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