Princeton NJ Real Estate - Prices of Houses Sold

Average Price Of Houses and Condos Sold in 2004 – 2007

The prices of homes and what is happening in the Princeton real estate market is always on the minds of the homeowners. It is even more so now, given the economic uncertainties of the effects of the sub prime mortgage fall out and the possible recession. The price of the homes sold is one of the indicators of the real estate market.

Looking at the period of 2004-2007, the news for Princeton is still positive - 17% increase in the average price of houses sold over the period. The biggest inverse occurred in 2005, followed by a slight decline in 2006 and 3% increase in 2007.

Hopewell showed an increase for the 2007 of 4%, West Windsor – decline of 4%, Montgomery Township –decline of 3%, and Pennington – decline of 15 %.    

The charts below lllustrate the differences in the trend for the other areas in the greater Princeton real estate market.

The increase in the average price in Princeton does not necessarily indicate the increase for the 2008.  The concerns about the economy and the general perception of the public that real estate prices will be going down is keeping many buyers from entering the market. On the other hand, there are still buyers that need to buy because of their circumstances and houses priced competitively will continue to sell.
 

* Data is based on the Trend MLS and is not guaranteed.

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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