Princeton Junction Real Estate Market Report – January 2009

Princeton Junction/West Windsor real estate market report for January 2009 has been published. It shows significant changes compared to 2008. This information is important for home buyers and sellers.

Princeton Junction /West Windsor – Houses For Sale Summary

  • Both median and average prices of houses sold in West Windsor have declined by 11%.
  • The biggest change is in the numbers of houses sold, which declined by 63%. This would be alarming if not for the good news in the number of houses pending.
  • Pending represents the houses gone under contract in January 2009 and indicates sales/closings in the next several months. This number has increased 83% compared to January 2008.
  • This could be an indication that many home buyers believe that West Windsor real estate prices are close to the bottom and are coming back to the market.
  • There are fewer Princeton Junction houses for sale active then during the same period last year. Fewer houses on the market should keep the downward pressure on the prices more in check.
  • Another piece of good news is that of houses sold – 83% did so in 60 days or less.

Princeton Junction /West Windsor – Condos For Sale Summary

  • It is difficult to draw a conclusion in regard to real estate condos prices, since the median shows a 12% increase, while the average prices shows 7% decline. Median prices usually are more reflective of the condition of real estate, so the condos seem to have been less effected then single family homes.
  • The number of condos sold has declined 25, but also not as dramatically as for Princeton Junction/ West Windsorsingle family houses.
  • The number of condos pending has remained the same as in January 2008.
  • The number of condos for sale active on the market has increased. Increase in inventory could produce downward pressure on the prices going forward.

Below id the detailed data for both single family houses and condos for January 2009 and January 2008.

Princeton Junction/ West Windsor Houses For Sale – January 2009

  • Median Price of Houses Sold        $480,000
  • Average Price of Houses Sold        $ 557,920
  • Number of Houses Sold                               6
  • Number of Houses Pending                       11
  • Number of Houses Active                          110
  • Av. Sold Price/Original Price                      96%
  • Number of Houses sold over $700,000      3
  • Sold in 60 days or less                                     5

Princeton Junction/ West Windsor Condos For Sale – January 2009

  • Median Price of Condos Sold   $249,500
  • Average Price of Condos Sold   $273,170
  • Number of Condos Sold               3
  • Number of Condos Pending        4
  • Number of Houses Active             22
  • Av.Sold Price/Original Price         91%
  • Condos sold over $300,000         1

Princeton Junction/ West Windsor Houses For Sale – January 2008

  • Median Price of Houses Sold    $540,000
  • Average Price of Houses Sold   $ 627,680
  • Number of Houses Sold                16
  • Number of Houses Pending          6
  • Number of Houses Active             133
  • Av. Sold Price/Original Price         92%
  • Number of Houses sold over $800,000        3
  • Number of houses sold over $1,000,000     2
  • Houses sold in 60 days or less       6

Princeton Junction/ West Windsor Houses For Sale – January 2008

  • Median Price of Condos Sold   $222,000
  • Average Price of Condos Sold   $295,000
  • Number of Condos Sold               4
  • Number of Condos Pending        4
  • Number Condos Active                 18
  • Av.Sold Price/Original Price         94%
  • Condos sold over $300,000         1

Search all West Windsor and Princeton Junction single family homes