Princeton NJ Townhouses and Condos Market Report 2004- 2008
Princeton Real Estate Homes blog is a resource for Princeton condos and townhouse home buyers and sellers in Princeton NJ. We publish regular reports on the condition of the Princeton NJ real estate.
Read: Princeton Real Estate Market Report 2004-2008
This report offers results for the Princeton condominiums homes for sale sold in 2004-2008. Here are the key points resulting from our analysis.
Princeton Township Condos For Sale
1. Median prices for Princeton condos in 2008 was $450,000 -decline of 18% compared to 2007.
2. The decline in 2008 is second largest decrease in the last five years. The largest decrease was in 2006, when the median price fell 30%.
3. Median prices have decreased in three years out of the last five.
4. Largest increase in the median price has occurred in 2007, when the median price increased 54%, following the dramatic decline in 2006.
5. In the last five years the median price has decreased 2%.
Princeton Borough Condos For Sale
1. Median price in 2008 was $560,000 and has increased 15% compared to the previous year.
2. Median prices have declined only once in the last five years. It happened in 2006, when the price dropped 17%.
3. Price decline in 2006 is understandable, given the high increases of 49% in 2005.
4. Princeton Boro condos had a 60% cumulative increase in median prices in the last five years.
Looking to buy a townhouse or condo in Princeton? Here are the Princeton townhouses and condos for sale available in the MLS now.