July 23, 2010
Sales Decline Year over Year
With the first half of the year behind us, here is a look at how the real estate market is faring in the Princetons. There have been 241 homes sold in the past 12 months for an average sale price of $867,003. The average asking price was $972,569 and the homes spent an average of 116 days on the market.
The previous twelve months (July 2008 to June 2009) saw a per-house average sale price of $933,212 for the 206 homes that sold. The average asking price was $1,062,324 and it took on the average 103 days for them to sell.
Just a quick glance will tell you that the number of homes sold decreased and the time on the market increased from year to year, and that the average sold price decreased about 7%. While all this may be statistically true, it may also relate to the types of homes being sold.
Information from the TReND MLS is deemed reliable but is not guaranteed.
Posted by: Bruce
June 10, 2010
Beginning A Career in Real Estate
Perhaps you are wondering: How you get a license? How do you join a company? What does it cost? and How do you make money?
For insights into the answers, visit Careers In Central New Jersey Real Estate. You will find information on Schooling, Licensing, and Careers Choices.
Posted by: Bruce
April 23, 2010
Search for Homes by Price Range
Homes From $500,000 to $750,000
Homes From $750,000 to $1,000,000
Posted by: Bruce
March 28, 2010
Search Available Homes on a Map of the Area
If you know which Princeton neighborhood you want to live in, it is possible using the added functionality of the Use An Atlas Search Page to focus in on a specific area in Princeton Township or Princeton Borough and discover the homes that are for sale there.
Because it is based Google Map technology, it will allow you to zoom in and out and move the map around by dragging. Enjoy!!
Posted by: Bruce
February 26, 2010
NAR Compares Regional Data to National Data
Single-Family Homes and Condos
Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January 2010 from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.
Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 percent higher than January 2009.
Regional Performance
Existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January 2010 but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.
Posted by: Bruce
January 14, 2010
Updated Neighborhood Sales Information
Sales data for the last two years has just been incorporated into the data supplied for each of Princeton Borough and Princeton Township's neighborhoods. The number of sales have remained fairly constant as have the values the homes sold for.
Posted by: Bruce
December 07, 2009
December 2009 Market Conditions
Princeton Borough and Princeton Township currently have 154 homes for sale. Through today, there have been 211 homes sold so far this year. At this rate of home sales, it would take 9 months to exhaust the supply, making this a slight buyer's market. The average sales price has been $929,438 for homes were asking an average price of $1,062,822.
Information from TREND MLS - Information Deemed Reliable but Not Guaranteed.
Posted by: Bruce
November 07, 2009
First-Time Homebuyer Tax Credit Extended and Expanded
It’s now official, Congress has extended and expanded the existing $8,000 homebuyers tax credit and the President signed it into law on Friday, Nov. 6th.
The new law extends the existing tax credit for Princeton area buyers who have not owned a home that was their principal residence in the past three years and adds some new criteria and qualifying homebuyers.
The $8,000 credit was scheduled to lapse on December 1st, 2009 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30, 2010 and close by June 30, 2010.
The income limits have been raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.
The bill also made more Princeton, NJ homeowners eligible to claim the credit on their taxes. First-time buyers — those who have not owned a home in the past three years — still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.
Posted by: Bruce
October 30, 2009
General Information about Princeton
Wikipedia, the free encyclopedia, has a rather lengthy article about Princeton, New Jersey and its history. There is information about education, noteworthy citizens, points of interest, and popular culture.
The Wikipedia entry will provide you with a good overview of the two communities known as Princeton, with some highlights of the surrounding area as well.
Posted by: Bonnie
October 02, 2009
Data on Home Sales for September 2009
Monthly sales statistics derived from our local Multiple Listing Service known as TReND, show that 27 homes sold in Princeton, both the township and the borough, this last month. With an average number of homes sold per month over the last year at 15 and with 187 homes currently on the market, it will take about 12 months for all the inventory to sell.
These twenty-seven homes sold for an average price of $915,533. The average sale price for the past year has been $922,275 for a home in the Princetons.
Posted by: Bruce
Information on
neighboring townships: