Weichert, Princeton Office

Offers analysis of the Princeton, NJ Condo &

Townhouse Market

• Princeton Condo & Townhouse Market Report

• Prepared By: Josh Wilton, Weichert Realtors

Princeton, NJ0 (609) 921-1900

jwilton@weichertrealtors.net

• 2007 v 2009 Market Review• Current Snapshot of the Condo &

Townhouse Market• Inventory Trends• Absorption Rate Breakdown & Trends;

AgendaAgenda

Year to Date Princeton Condo & Townhouse Snapshot, 2009Towns YTD 2007 YTD

2008YTD 2009

Settled Units 57 23 22

Average Settled Price

$583,912 $513,914 $567,724

Total Settled Volume

$33,283,000 $11,306,100 $13,057,650

Average Sold Price/ Original Price

97.7% 97.8% 97.7%

Princeton Borough & Township Market Snapshot, 8/11/09

Towns Active Listings

Pending Sales in Last 30 Days

Absorption Rate in Months

New Listings in 30 Days

Net Gain (Loss) to Market

Listings Reduced in 30 Days

% of Invent. Reduced

Expired Listings

W/drawn Listings

Closed Listings

Pton -Boro Condo/ Thouses

12 0 99 0 0 4 33% 0 1 0

Pton Twp: Condo/ Thouses

20 3 6.7 2 -1 4 20% 3 1 2

Princeton Twp. Inventory (all styles)

020406080

100120140160180

Twp. Inventory

Princeton Twp. Condo/Townhouses Inventory

0

5

10

15

20

25

30

35

Princeton Township C/T Inventory

Princeton Boro. Active Inventory (all styles)

01020304050607080

Boro Activities

Princeton Boro. Condo/Townhouses Active Inventory

0

2

4

6

8

10

12

14

16

Princeton Boro C/T Inventory

Sample Market Absorption RateSample Market Absorption Rate

107 current active listings

4 reported sales in last 30 days=

24.3months

absorptionrate

Anytown., NJ

5-6 Months Market Absorption Rate indicates a normal market.

Market Scale for Supply & Market Scale for Supply & DemandDemand

High Supply/Low Demand Low Supply/High DemandNormal

Mar

ket A

bsor

ptio

n in

Mon

ths 1

23456789

101112

Nor

mal

Weichert has been studying market conditions for more than 3 decades and has found a direct correlation between market absorption and property values.

As absorption rates increase beyond a normal market level of 5-6 months, property values depreciate annually.

Princeton Boro. Condo/Townhouses Absorption Rate

0

20

40

60

80

100

120

Princeton Boro C/T Absorption Rate

Princeton Twp. Condo/Townhouses Absorption Rate

0

20

40

60

80

100

120

12/2

9/20

081/

5/20

091/

12/2

009

1/19

/200

91/

26/2

009

2/2/

2009

2/9/

2009

2/16

/200

92/

23/2

009

3/2/

2009

3/9/

2009

3/16

/200

93/

23/2

009

3/30

/200

94/

6/20

094/

13/2

009

4/20

/200

94/

27/2

009

5/4/

2009

5/11

/200

95/

18/2

009

5/25

/200

96/

1/20

096/

8/20

096/

15/2

009

6/22

/200

96/

29/2

009

7/6/

2009

7/13

/200

97/

20/2

009

7/27

/200

98/

3/20

09

Princeton Township C/T Absorption Rate