New Jersey Real Estate – W. Windsor Housing Market May 2008

West Windsor real estate in May 2008 is not very different from May 2007. There was a small reductions of houses
listed this month compared to same period last year and to April of 2007.  The median prices for houses have increased compared to April 2008 but decreased compared to May 2007. The interesting factors is that the median price for West Windsor condos has continued to decline from last year and from last month.This could be an indication that the first time home buyers are affected by the mortgage problems and are not in a position to by, this reducing demand for condos and therefore declining prices. In some communities , like Princeton, the inventory of available homes has been much lower then last year. This is not the case in West Windsor.

The demand for W. Windsor real estate, as measured by the number of W. Windsor homes placed under contract (pended) is down 7% compared to last year and up 3% since last month. The number of houses sold in May is a bit less then last year, but has more then doubled compared to April 2008. It could indicate the realization by many buyers that this is a good market for them with a lot of choices and relatively low interest rates.

Days On the Market is a measure (not totally accurate for several reasons) of how long it takes for a W.Windsor house to go under contract. This number has increased significantly 37% since April and  26% compared to May 2007.
Below are the details for the West Windsor real estate housing statistics for May 2008.

New Jersey Real Estate -  West Windsor Housing Market Detail

Housing Supply – West Windsor Homes For Sale

Units Listed     05/2008    58

Units Listed     05/2007    Down 2%
Units Listed     04/2008    Down 5%

Units Active    05/2008    204
Units Active    05/2007    Down 8%
Units Active    04/2008    Up 4%

Prices Of West Windsor Homes Sold

Sold Average 05/2008    $1,028,755
Sold Average 05/2007    Up 12%
Sold Average 04/2008    Down 2%

Housing Demand - West Windsor Homes Sold

Units Sold    05/2008    34
Units Sold    05/2007    Down 3%
Units Sold    04/2008    Up 113%

Units Pended 05/2008    40
Units Pended 05/2007    Down 7%
Units Pended 04/2008    Up 3%

Days On The market – West Windsor Homes Sold
DOM        05/2008    78
DOM        05/2007    Up 26%
DOM        04/2008    Up 37%

Median Price – West Windsor Real Estate Sold

Median Price Houses     05/2008  $510,000

Median Price Houses     05/2007   Down 13%

Median Price Houses 04/2008 Up 16%

Median Price Condos     05/2008  $275,000

Median Price Condos     05/2007   Down 13%

Median Price Condos     04/2008   Down 22%

Analysis is based on Trend MLS as of 6/19/2008 data and is not guaranteed.

Read more about West Windsor real estate:

West Windsor NJ Real Estate – Housing Report First Quarter 2008

New Jersey Real Estate – West Windsor Housing Prices 2004-2007

Read more about Princeton real estate:

Princeton Real Estate Housing Market -April 2008|NJ Mercer County Real Estate

Princeton Real Estate Housing Market -March 2008| NJ Mercer County Real Estate

Prices of Houses Sold in Princeton -January 2008| Mercer County NJ Real Estate

Princeton Real Estate Housing Market  -First Quarter 2008| NJ Mercer County Real estate

Tips for Princeton area real estate buyers and sellers:

Princeton Mercer County NJ Real Estate – Secrets to selling your house like an agent.

Princeton Mercer County NJ Real Estate -Secrets To Buying A Home Like A Realtor

Princeton Mercer County NJ Real Estate Sellers- 3 Things That Sell Houses Now

Princeton Mercer County NJ Real Estate – 5 Deadly Mistakes When Selling Your House

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