Princeton NJ Real Estate Homes » Montgomery

Montgomery Township Homes For Sale $750,000-$1,000,000

Faina Sechzer — Sun, 11 Jan 2009 17:00:04 +0000

Montgomery Township homes for sale are thought by buyers looking for highly rated Montgomery Township school district and for a large selection of homes in various price ranges and neighborhoods such as Skillman, Belle Mead, Blawenburg. Some properties in Montgomery Township have Princeton address, but the kids attend Montgomery Township schools. Here is a selection of homes available in the $750,000 – $1,000,000 price range.

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Luxury Montgomery New Jersey Homes For Sale

Faina Sechzer — Sat, 10 Jan 2009 20:17:28 +0000

New Jersey luxury homes in Montgomery Township are sought by buyers looking for the highly rated Montgomery Township schools, and availability of luxury homes both new and older estates, located in beautiful, often pastoral settings. These homes are available in the $1,000,000+ price range.

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Montgomery Township Homes For Sale $1-$750,000

Faina Sechzer — Sat, 10 Jan 2009 19:29:08 +0000

Montgomery Township offers a wide variety of home styles, prices and neighborhoods such as Skillman, Bell Mead and Rocky Hill. Some Montgomery houses for sale have Princeton address, but are in Montgomery and use Montgomery Township School District. The following are the homes for sale available for less that $750,000.

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Montgomery Township Real Estate Housing Report 2008-2004

Faina Sechzer — Wed, 07 Jan 2009 14:01:39 +0000

Princeton Real Estate has released it’s report on the real estate market in Montgomery Township for the last 5 years. Considering selling your home your home in Montgomery Township soon? Thinking if this is the right time and place to buy? This report is for you. The report contains some positive news, unlike most of the country that suffered much more severe real estate downturn. Here are several key observations:

The good news is that the average price of $625,064 has increased 5% compared to the prices 5 years ago. Many people who bought their homes before 2003 may still see positive appreciation. That may not be the case for those who bought in the last several years. Read More: Understanding Real Estate Prices.
The not so good news -the average price of homes sold in Montgomery has declined 7% in 2008 vs. 2007.
The highest average price of the homes sold in Montgomery Township in the last 5 years was in 2005. It has declined 8% since that high.
The number of homes sold has declined 16%. This is coupled with an almost corresponding decline in the number of houses listed, reflecting the sellers’ hesitation of selling in this market.
The “days on the market” has increased very slightly compared to last year, but rather significantly -70% from 2005, when the houses were selling in record times.
The highest average sold price was $2,300,000 -reflection of the buyers continued interest in the Montgomery Township luxury real estate. This is a 47% increase since 2004.
It is important for buyers and sellers to understand how how these results compare with the surrounding communities. In Princeton average price has increased 10%, in Hopewell – it has declined 9%, and in Pennington – increased 14% compared to last year. The number of houses sold has declined significantly in these communities as well as in Montgomery.

If you would like to know how your Montgomery Township homes’ value and how it’s weathering this market, please call 609-553-4175.

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Montgomery Township Real Estate – Prices Of The Houses Sold

Faina Sechzer — Wed, 20 Aug 2008 00:55:37 +0000

What are real estate prices of the homes sold in Montgomery Township New Jersey? This question is often asked by the blog readers who are either considering selling their Montgomery home or buyers who want to understand better the value of Montgomery Township real estate. Both sellers and buyers should also review the prices of Princeton real estate. For Montgomery township sellers it would show what buyers in the similar price range could find in other towns. for Buyers of Montgomery homes for sale, Princeton real estate prices would give a sense of else you could find within your budget.

Read:Princeton New Jersey Real Estate – What Did Princeton Houses Sell For?

In the “old days” of real estate this information was solely a prerogative of real estate agents.

There are many in the real estate community who still believe this information should not be made public because it is payed for by real estate agents. I do pay for access to this information, but choose to make it available to my readers and subscribers because it makes them more prepared for the buying and selling process. Even more importantly, I explain what this information means (and what it doesn’t) because not understanding it could lead to wrong decisions.

When it comes to data about Montgomery Township real estate, as well as Princeton real estate and other surrounding towns, it’s close to impossible to find information that is straight forward and accurate.

Read: Who else wants to have clarity about Princeton real estate?

Do Princeton houses sell fast?

The information about Montgomery houses sold year-to date could be helpful in staying abreast of your neighborhood prices. It could be helpful to set your expectations if you are preparing your Montgomery home for sale. it could be helpful to the out of town buyers who are researching Montgomery township neighborhoods and deciding which neighborhood best fits their needs and budget.

This information is guidance but not enough to set the market price for your Montgomery homes for sale for several reasons. The Days On The Market (DOM) does not necessarily reflect the time the house was for sale, since sometimes Montgomery homes for sale are withdrawn from the market and re-listed, which cause the days on the market statistics to re-set. Most important of these reasons is the knowledge of the specific house (even if it is the same model as yours), since many factors go into why a particular house sold for the sale price. Use the information bellow as a guidance and for research, but do not substitute it for an advice of a competent Montgomery real estate agent.

Read: How to find the best level of service for a Montgomery/Princeton New Jersey real estate agent?

Montgomery Township Real Estate -Houses Sold Year-To- Date 2008 (price range $700,000-$1,200,000)*

Address 618 River Rd, Belle Mead, NJ 16 Spyglass Rd, Skillman, NJ 27 Scenic Hills Ct, Bellemead, NJ 21 Brandywine Rd, Skillman, NJ 4 Hastings Rd, Belle Mead, NJ 63 Montgomery Rd, Montgomery, NJ 7 La Costa Ct, Skillman, NJ 9 La Costa Ct, Skillman, NJ 44 Titus Road, Skillman, NJ 45 Hollow Rd, Skillman, NJ 1 Congressional Ct, Skillman, NJ 22 Hastings Rd, Belle Mead, NJ 18 Millers Grove Rd, Belle Mead, NJ 51 Canterbury Ln, Belle Mead, NJ 173 Berkley Ave, Belle Mead, NJ 2 Southern Hills Dr, Montgomery, NJ 37 Ketcham Rd, Belle Mead, NJ 1 Regents Ct, Montgomery, NJ 9 Jupiter Hills Ct, Skillman, NJ 96 Millers Grove Rd, Belle Mead, NJ 9 Kemper Lakes Ct., Montgomery, NJ 25 Saddlewood Ct, Belle Mead, NJ 25 Southern Hills Dr, Montgomery, NJ 9 Sandpiper Court, Montgomery, NJ 152 Wilshire Dr, Belle Mead, NJ 15 Voorhees Ln, Skillman, NJ 8 Aronimink Court, Montgomery, NJ 104 Catskill Ct, Belle Mead, NJ 35 Poling Farm Ct, Belle Mead, NJ 3 Aspen Ct, Belle Mead, NJ 32 Grayson Dr, Belle Mead, NJ 38 Heritage Way, Belle Mead, NJ 5 Berkley Ave, Belle Mead, NJ 15 Westminster Ct, Belle Mead, NJ 12 Matthews Farm Rd, Belle Mead, NJ 4 Shetland Grn, Belle Mead, NJ 3 Flanders Valley Ct, Skillman, NJ 22 Derby Chase Ct, Belle Mead, NJ 365 Township Line Rd, Belle Mead, NJ 16 Muentener Dr, Skillman, NJ 29 Coddington Ct, Belle Mead, NJ	Bedrooms 3 3 4 4 4 4 4 4 4 5 3 5 4 4 5 5 5 4 4 5 4 5 4 4 5 4 4 4 4 4 4 5 6 4 5 4 4 4 4 5 4	Bathrooms 2 2.1 2.1 2.1 2.1 2.1 3.1 3.1 2.1 3 2.1 3.1 3.1 2.1 4.1 3.1 3.1 3.1 2.1 2.2 2.1 3.1 3.1 3.1 4.1 4.1 3.1 2.1 3.1 3.1 2.1 2.1 3.1 2.1 3.1 2.1 2.1 2.1 2.1 3.1 3.1	Sold Price $760,200 $705,000 $822,500 $735,000 $770,000 $755,000 $1,115,000 $1,150,000 $840,000 $708,000 $840,000 $710,000 $850,000 $949,900 $928,000 $770,000 $705,000 $715,000 $840,000 $791,000 $936,000 $963,000 $1,155,000 $873,500 $885,000 $975,000 $840,000 $740,000 $830,000 $970,000 $772,500 $750,000 $770,000 $724,000 $835,000 $719,000 $738,000 $795,000 $720,000 $959,000 $977,500	Settled Date 7/28/08 1/24/08 5/12/08 1/10/08 1/3/08 7/15/08 6/23/08 2/27/08 3/19/08 6/10/08 5/21/08 7/25/08 5/15/08 6/12/08 4/7/08 7/9/08 5/12/08 7/21/08 8/15/08 6/27/08 4/28/08 7/16/08 6/23/08 8/7/08 7/8/08 7/31/08 8/1/08 6/30/08 7/31/08 7/18/08 6/25/08 7/28/08 8/6/08 7/21/08 7/31/08 7/17/08 8/6/08 8/8/08 8/4/08 8/6/08 8/11/08	DOM 361 189 274 77 67 260 95 56 94 72 95 159 44 66 34 133 27 59 97 32 22 36 37 125 18 50 102 69 56 51 25 57 57 31 44 9 39 49 9 19 7

The data is based on Trend MLS as of 8/19/2008 and is considered accurate but not guaranteed.

Read: Montgomery Township real estate market report – six months 2008

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Montgomery Township NJ Real Estate Market Report – June & Six Months 2008

Faina Sechzer — Mon, 04 Aug 2008 05:20:52 +0000

This report provides insight into the state of the Montgomery Township real estate
and could be useful for home buyers relocating to the Princeton area and those considering selling their Montgomery Township house.

Looking for Greater Princeton homes for sale and wanting to understand the differences between various surrounding towns requires understanding of the local real estate market. If you are considering selling your Montgomery home this information could give you a sense of the market.

I. Montgomery Real Estate Summary

The slowing of the real estate market in Montgomery township is similar to Princeton in that there are fewer house being listed, going under contract, and being sold compare to the similar period of 2007. There were 39% less houses listed in June 2008 and 22% less in the first half year of 2008, compared to 2007. The Montgomery home sellers (similar to Princeton home sellers) are reluctant to put their houses on the market. Most of the market activity now is attributed to the home buyers and sellers relocating to the area because of job transfers or other family personal situations, requiring their move. There is also a category of Montgomery real estate buyers and sellers who are using this weakened market to upscale. There number of Montgomery homes sold declined 22% in June and 33% in the 1st six months compared to 2007. Factors contributing to these declines are the uncertainty of the home buyers, tightening credit market, increasing interest rates and other troubles with the economy.

II. Montgomery Township Real Estate – June 2008

Montgomery Houses – Active June 2008
Number – 159
Median Price – $640,000
Average Price -$ 741,170

Montgomery Condos -Active June 2008
Number – 13
Median Price - $399,900
Average Price – $377,290

Montgomery Houses – Sold June 2008
Number of Houses Sold – 24
Value sold – $14,967,800
Median House Price – $614,000
Average House Price – $623,660
Average House Sold/ Original Price – 95%

Montgomery Condos – Sold June 2008

Number Condos Sold -    5
Value sold -               $1,236,500
Median Condo Price -   $334,000
Average Condo Price – $327,000
Average Condo Sold Price/Original Price – 95%

Montgomery Houses & Condos June 2008 vs. June 2007

Category June 2008 June 2007
Number Listed                  22                   36
Number Pended                 33                   42
Number Sold                 29                    37
Average Price Sold         $572,562           $772,921
Average DOM                   57                   66

Montgomery Houses Under Contract (Pending) June 2008
Number of Houses pending -33
Volume Houses Sold -       $23,527,880
Median House Price -      $685,000
Average House Price-       $712,970

Montgomery Condos Under Contract (Pending) -June 2008

Number Condos Sold – 6
Value Condos sold -    $2,232,700
Median Condo Price     $349,900
Average Condo Price    $372,120

III. Montgomery Township Real Estate First Half 2008

Montgomery Houses Sold 01/2008-06/2008
Number Houses sold – 70
Median House Price - $585,000
Average House Price – $661,980
Average Sold Price /Original Price – 93%

Montgomery Condos Sold 01/2008-06/2008
Number Condos Sold - 17
Median Condo Price Sold – $350,000
Average Condo Price Sold -$356,410
Average Sold Price /Original Price – 93%

Montgomery Township Houses & Condos 01/2008-06/2008 vs. 01/2007- 06/2007

Category Six Months 2008 Six Months 2007
Number Listed                 229                                     290
Number Pended                126                                    165
Number Sold                    87                                     118
Average Price Sold           $602,267                        $665,803
Average DOM                  81                                      73

Statistics based on Trend MLS 07/18/2008 and not guaranteed.

Resources for selling and buying Princeton real estate:

How To Buy And Sell Your Princeton Home Like A Pro

Why Some Princeton Houses Sell Quickly

How To Find A Real Estate Bargain|Princeton Real Estate

Do You Want To Be A Successful Princeton Home Seller?

Princeton Real Estate – Buyers Market and Multiple Offers

Please call 609-553-4175 for services in Princeton, Montgomery Township, West Windsor, Plainsboro, Princeton Junction, Hopewell, Pennington, and Lawrenceville New Jersey.New Jersey Real estate, New Jersey homes for sale and/or listing New Jersey homes to sell, relocation services and assistance. Referrals are accepted. Countrywide and international relocation program is available.

Faina Sechzer does not guarantee or is in any way responsible for accuracy of the information on this site, and provides said information without warranties of any kind, either expressed or implied. Every consumer is urged to perform their own research and analysis.

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Montgomery Township NJ Real Estate Market Report – June & Six Months 2008

Faina Sechzer — Mon, 04 Aug 2008 05:19:51 +0000

This report provides insight into the state of the Montgomery Township real estate
and could be useful for home buyers relocating to Montgomery Township,
looking for Princeton area homes for sale and wanting to understand the
differences between various surrounding towns, and by those considering
selling your Montgomery home.

I. Montgomery Real Estate Summary

The slowing of the real estate market in Montgomery township is similar to Princeton in that there are fewer house being listed, going under contract, and being sold compare to the similar period of 2007. There were 39% less houses listed in June 2008 and 22% less in the first half year of 2008, compared to 2007. The Montgomery home sellers (similar to Princeton home sellers) are reluctant to put their houses on the market. Most of the market activity now is attributed to the home buyers and sellers relocating to the area because of job transfers or other family personal situations, requiring their move. There is also a category of Montgomery real estate buyers and sellers who are using this weakened market to upscale. There number of Montgomery homes sold declined 22%
in June and 33% in the 1st six months compared to 2007. Factors contributing to these declines are the uncertainty of the home buyers, tightening credit market, increasing interest rates and other troubles with the economy.

II. Montgomery Township Real Estate – June 2008

Montgomery Houses – Active June 2008
Number – 159
Median Price – $640,000
Average Price -$ 741,170

Montgomery Condos – Sold June 2008

Number Condos Sold -    5
Value sold -               $1,236,500
Median Condo Price -   $334,000
Average Condo Price – $327,000
Average Condo Sold Price/Original Price – 95%

Montgomery Houses & Condos June 2008 vs. June 2007

Montgomery Houses Under Contract (Pending) June 2008
Number of Houses pending -33
Volume Houses Sold -       $23,527,880
Median House Price -      $685,000
Average House Price-       $712,970

Montgomery Condos Under Contract (Pending) -June 2008

Number Condos Sold – 6
Value Condos sold -    $2,232,700
Median Condo Price     $349,900
Average Condo Price    $372,120

III. Montgomery Township Real Estate First Half 2008

Montgomery Houses Sold 01/2008-06/2008
Number Houses sold – 70
Median House Price - $585,000
Average House Price – $661,980
Average Sold Price /Original Price – 93%

Statistics based on Trend MLS 07/18/2008 and not guaranteed.

Resources for selling and buying Princeton real estate:

How To Buy And Sell Your Princeton Home Like A Pro

Why Some Princeton Houses Sell Quickly

How To Find A Real Estate Bargain|Princeton Real Estate

Do You Want To Be A Successful Princeton Home Seller?

Princeton Real Estate – Buyers Market and Multiple Offers

Please call 609-553-4175 for services in Princeton, Montgomery Township, West Windsor, Plainsboro, Princeton Junction, Hopewell, Pennington, and Lawrenceville New Jersey.New Jersey Real Estate, New Jersey homes for sale and/or listing New Jersey homes to sell, relocation services and assistance. Referrals are accepted. Countrywide and international relocation program is available.

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Princeton NJ, Montgomery Township -New Mortgage Limits

Faina Sechzer — Wed, 21 May 2008 02:45:20 +0000

Princeton, Montgomery Township Real Estate – Somercet and Middlesex Increased Mortgage Limits

The greater Princeton NJ real estate market could benefit from the new mortgage limits. The new number is $729,750.
This is the new mortgage limit for loans guaranteed by the Federal
Housing Administration. The previous limit was $417,000. 19 counties in
New Jersey had this limit increased.

Montgomery township, and the rest of the Somerset county as well as Middlesex County, are among 12 counties who received this increase. The new limits were derived from the median home prices in each county. The higher the median prices in the county, the higher the new limit.

Princeton with it’s high median prices did not get the maximum increase. The new mortgage limit for Princeton got increased to $440,000. The same applies to Hopewell, West Windsor, and the rest of the Mercer county, because of the county’s lower median price.

FHA
backed loans also saw increases, with the highest limit being $729,500
and the maximum loan allowed for lower price areas -to $272,050. These limits before this change were capped at $362,790 and $200,160 respectively.

Hopefully these changes would help more homeowners with high-rate sub
prime mortgages to refinance into federally insured loans.
Another idea behind this initiative is to get investors more interested
in the more expensive mortgages, backed by Fannie and Freddie, and thus
to drive down the interest rates. Lower interest rates would in turn
help home buying and refinancing, and that to coin the expression is a
“Good Thing.”

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

Princeton NJ Real Estate Mercer County homes -Housing Market Statistics March 2008

Princeton NJ real estate Mercer County – Buyer Information

Princeton NJ real estate Mercer County -Seller Information

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

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

Serving Princeton, Montgomery Township, West Windsor,
Plainsboro, Princeton Junction, Hopewell, Pennington, and Lawrenceville
New Jersey.New Jersey Real
estate, New Jersey homes for sale and/or listing New Jersey homes to
sell, relocation services and assistance. Referrals are accepted.
Countrywide and international relocation program.

Copyright
2007 Faina Sechzer All rights reserved. This information cannot be
copied, reproduced, transmitted, distributed, displayed or published.

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Montgomery Township NJ Real Estate Housing Market Report – 1st Quarter 2008

Faina Sechzer — Thu, 15 May 2008 04:54:20 +0000

Montgomery NJ Real Estate – First Quarter 2008

The Montgomery NJ real estate (greater Princeton NJ) report is now completed with the results for the 1st quarter. This report details the prices of Montgomery NJ homes for sale, trends in the numbers of homes sold, the average days on the market
it took to sell the house and the rate at which houses have sold. Data is compared it to the real estate statistics
for the same period of last year -Q1
2007. Princeton real estate is different from Montgomery real estate. The report for Princeton NJ real estate could be used for comparison.

This is important information for Montgomery NJ real estate area buyers and sellers.
In summary the data suggests significant slowing of the real estate market as the
uncertainty of the buyers about further price declines and the
condition of the economy continue, resulting in fewer houses going under contract and being sold. The Montgomery NJ real estate average sale price
is almost unchanged, which does not mean that the prices have stabilized, as I explained in the article “Who else wants clarity about real estate prices.” There is slight increase in the
average Days On The Market – a measure of time it
takes to sell.

The decline in the number of houses on the market
illustrates home sellers reluctance for putting their homes on the
market, unless they absolutely have to. This could be good news for the buyers.
More sellers serious about selling could lead to more realistic home
prices. The data bellow is for the Q1 2008*.

There are various sources of information available to Montgomery NJ real estate buyers and home sellers. It is important to make sure you understand the credibility of the
realtor or another information provider and the sources of the
underlying data. Most important is to understand the meaning of each
price of information, as such information could be quite confusing not
just to consumers but to many New Jersey Realtors as well.

Montgomery NJ Real Estate Prices of Houses Sold
Average home price – $593,479

Average price Q1 2008 vs. Q1 2007: Unchanged

No
dramatic conclusions about the direction of the real estate prices can
be determined by looking at the numbers for one quarter, because they
depend on the type of sales during this quarter. Preponderance of more
expensive homes sold during this period would increase the price, but
does not mean prices are going up. In fact the exact
opposite could be happening. To determine the real direction of real
estate prices, same property sales has to be tracked over time.

Montgomery NJ Real Estate – Housing Supply
Number of Montgomery Township houses on the market

Q1 2008 -192

Q1 2008 vs. Q1 2007 Down 12%

The 12% decline compared to first quarter 2007 indicates, the sellers decisions not to sell, unless they absolutely have to.

Montgomery NJ Real Estate – Housing Demand

Two most important indicators of Montgomery NJ
real estate demand are: the number of houses sold and the number of
houses put placed under contract (Pended). there has been significant decline in both of these categories in Q1 2008 compared to Q1 2007. Montgomery NJ number of Houses Pended is most indicative of the market
today, since it reflects the contacts being entered now, as compared
with the Sold category, which reflects houses gone under contract
several months ago, and closed this quarter.

Montgomery NJ- Number of Houses Sold

Q1 2008 – 24

Q1 2008 vs. Q1 2007 -Down 53%

It could be expected that with fewer houses
on the market there would be fewer houses sold. To have an indication
of the houses sold relative to the number of active listings, I am
introducing a new measure:

% Houses Sold compared to Active

Average % (Sold+Pended) vs. Active – Q1 2008 – 16%

Average % (Sold +Pended) vs. Active – Q1 2007 – 26%

Montgomery NJ – Number of Houses Pended

Q1 2008 – 42

Q1 2008 vs. Q1 2007 -Down 42%

Montgomery NJ Homes For Sale – Days On The Market

Average DOM Q1 2008 -96

Average DOM Q1 2008 vs. Q1 2007 - Up 4%

The data for the NJ real
estate market suggests 27% decline in March in contract sales compared to one
year ago despite a 9% increase from February.

The
same trend could be seen in the number of houses that went under
contract (Pended), which was slightly down from the same period last year.

Average
days on the the market for the sold houses is also slightly up from Q1 last year. Buyers uncertainty
and unwillingness of many sellers to price their houses correctly is
reflected in the increased length of time it take to sell them.

Related first quarter and monthly market report articles:

West Windsor NJ Mercer County Real Estate – Housing Report First Quarter 2008

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

Princeton NJ Real Estate Mercer County homes -Housing Market Statistics March 2008

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

Tips for buying and selling New Jersey real estate in Princeton:

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

Please call 609-553-4175 to learn how Montgomery NJ real estate market could affect your decisions to buy
and/or sell you greater Princeton area home.

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Princeton NJ Real Estate Market Report – Montgomery Township Real Estate Inventory January 2008

Faina Sechzer — Mon, 21 Apr 2008 03:28:40 +0000

Montgomery Township NJ Real Estate Housing Inventory January 2008

The condition of the real estate market in the Montgomery Township NJ and other surrounding towns is something most Home sellers and homes buyers are concerned about.

This also applies to homeowners who are currently selling or buying their house but are concerned about the values of the Montgomery Township NJ real estate. How can we find the possible answers?

The Press has been consistently reporting that now is the buyers market and that five years ago it was sellers market.
By this, people usually mean who has the upper hand in the market, or
whether there are more buyers than sellers in the market. In the buyers market home prices usually decline, in the sellers market – home prices increase.

In the real estate language buyers and sellers market are often defined by inventory accumulation.
This technical sounding term is a result of simple arithmetic: dividing
the total number of the available houses on the market by the average
number of sales per months. For example, if there are currently 20
houses on the market and on the average 2 houses per month are sold,
the inventory accumulation equals two.

In the past it
was believed that the ˜buyers market is when the inventory
accumulation exceeds 6-7 months. It is considered to be the ˜sellers
market when inventory accumulation is less then 6-7 months.

Montgomery
Township inventory accumulation is one of the lowest in the greater Princeton area at 3
months. Looking at the chart bellow it would appear that Hopewell NJ is
the only market (out of the five examined) that by this definition is
buyers market.

Princeton Area Housing Inventory and Accumulation – January 2008*

This
data seems to contradict what we hear on the news about the real estate
markets that it is a buyers market. What is happening is that the
sellers are holding off putting their homes on the market, or taking
them off the market, resulting in the low supply of homes for sale and
driving the inventory accumulation numbers down. That does not
necessarily mean that the prices of homes will go up (which is what
usually happens when there is scarcity of supply). The buyers are not
rushing into the market and are waiting for the prices to go down.

What
this means for the Princeton area home buyers is that is still a good
supply of homes without the pressure of the imminent price increases.
For the Montgomery Township sellers the low inventory can easy the
downward pressure on home prices. It does not mean that home
sellers can now count on home appreciation if they bought their home
within the last two-three years.

You can read more about the Princeton NJ area real estate statistics in the following articles:

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

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

Please
contact Faina Sechzer at 609-553-4175 with questions about real estate,
homes for sale and/or listing your house to sell, and relocation
assistance in Princeton, Montgomery Township, West Windsor, Hopewell,
and Lawrenceville New Jersey. Referrals are accepted.
If you are moving out of the greater Princeton area, please inquire about the countrywide relocation program.

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