New Jersey Real Estate Agent

How long to does it take to sell?  2006-2007

How long does it take to sell the house in this market in Princeton? Does the mortgage crisis affect Princeton as much as other areas of the country? in terms of time it takes to sell, are there differences between the Princeton Borough and Princeton township markets?

Summary: Even in the slower market 27% of houses in Princeton Township took less then 30 days to sell, and only 13% of houses took longer then 6 months to sell. There isnt a significant difference in these statistics for 2007 and 2006. This isndicates that Princeton real estate is still and attractive market for the buyers provided the Princeton houses for sale are priced according to the market.

In the Princeton Boro:
19% of houses sold in less then 30 days
59% of houses sold between 0-90 days
59% of houses sold between 31-180 days
22% of houses sold in over 180 days

In the Princeton Township the numbers are similar:
27% – sold in less then 30 days
65% -sold between 0-90 days
60% – sold between 31-180 days
13% – sold in over 180 days

Combined for the Princeton Boro and Township the time to sell the house in 2007 was not much different then in 2006.

DOM 2007* 2006**
< 30 days       25%                                  31%
0-90 days       64%                                  65%
31-180 days    59%                                  58%
180+ days      16%                                  11%

*period covered  1/2007 -11/2007; ** period covered 1/2006- 11/2006

Data is based on the Trend MLS and is deemed reliable, but is not guaranteed.

For more details Look on how to buy and sell a house in the greater Princeton NJ call 609-553-4175.

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