"What did that house sell for?" is a question that I get asked so often, that I started this monthly series by reporting on the home sales in Princeton. It would be only fair that readers in Hopewell and Pennington had access to the same information.
Here are some of the statistics for the homes sold in Hopewell and Pennington for the January 2008 and comparison to the same period in 2007.
The above data is based on the Trend MLS (2/24/2008) and is not guaranteed.
To learn more about the condition of the local Princeton area and national real estate market, please read:
How is the Princeton Market? - real estate statistics and analysis for January 2008
Princeton real estate -local or global ? - review of the differences and similarities in the local and national real estate markets
Princeton real estate statistics -2007 summary
Princeton area real estate housing prices - review of prices for the period of 2004-2007 for Princeton, Hopewell, Pennington, West Windsor, and Montgomery Township.
*This information is based on Trend MLS (2/13/2008) and is not guaranteed. It does not include private sales.
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through the e-mail on the right side of the page.
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.
Faina Sechzer does not guarantee or is in any way responsible for information accuracy in this post, and provides it without warranties of any kind, either expressed or implied.
Copyright 2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.
“What did that house sell for?” – if you ever asked this question, I have good news: you can now find the answers in this new monthly feature I added to my blog. Starting with January 2008, you can “discover” the Princeton, Hopewell, West Windsor and Montgomery real estate sales prices of sold homes right here on the Princeton Real Estate Blog.
The reason for this feature is because people are always asking me this question, and I wanted to make it easier for everyone to find the answers.
Houses Sold in Princeton NJ – January 2008*
To learn more about the condition of the local Princeton area and national real estate market, please read:
How is the Princeton Market? - real estate statistics and analysis for January 2008
Princeton real estate -local or global ? - review of the differences and similarities in the local and national real estate markets
Princeton real estate statistics -2007 summary
Princeton area real estate housing prices - review of prices for the period of 2004-2007 for Princeton, Hopewell, Pennington, West Windsor, and Montgomery Township.
*This information is based on Trend MLS (2/13/2008) and is not guaranteed. It does not include private sales.
_____________________________________________________________________________________________________________________________
If you want to stay current on the greater Princeton local real estate and places, people and events, please subcribe using a feed reader or through the e-mail on the right side of the page.
Providing facts about Princeton NJ real estate market, such as the prices of house sold, days on the market, and absorption rates, is the regular feature of this blog, and the one my readers are really looking forward to read and analyze. Granted, statistical data may not be the best page turner, and may not be everyone’s cup of tee, but it helps separate facts from fiction and that’s what consumers want. 
In the “old” times, this data was kept close to the vest by the real estate agents, and was provided on the “need-to-know” basis to their clients. One of the goals for my blog (albeit a very time consuming one) is to do away with such practice and provide in the open Internet forum the hard core information to help buyers and sellers separate emotion, focus on facts and make informed decisions.
Here is the view of the Princeton real estate and housing market for the January 2008*.
In summary, both the supply and demand decreased compared to the same period in 2007. There is 7 months of inventory. This number means, that's how long (at the average yearly rate of sale) it would take to sell available supply, if no new houses came on the market. The third criteria for looking at the real estate market is how long does it take to sell the houses that do sell. Days On The Market (DOM) has increased compared to January 2007, indicating that the sellers are still reluctant to price at market and that the buyers are not rushing to make their home purchase. Of course, DOM does not include the houses that failed to sell, and is also effected by some houses being re-listed and thus "restarting" their DOM count.
Supply
The is the number of houses available for sale declined 17% compared to the same period in 2007. It is 1% higher then in the previous month of December 2007.
January 2008 -169 houses
January 2007 - 203 houses
December 2007 – 167 houses
The inventory accumulation is 7 months, compared to 8 during the same period last year and 6 –during the previous month.
Demand
The number of houses sold represents an 8% decline compared to the same period of 2007 and 43% decline then in the previous month of December.
January 2008 -12 houses
January 2007 -13
December 2007 – 21 houses
The number of houses that went under contract was 14, representing 12% decline compared to the same period last year.
Average Days On The Market
The January numbers increased 6% increase compared to the same period in 2007, and 20% decline compared to December 2007.
January 2008 – 103 days
January 2007- 97 days
December 2007- 128 days
Prices of Houses Sold
The average priced increased 84% compared to the same period in 2007, and increased 90% compared to December 2007. The median prices have increased 42% and 28% respectively compared to January 2007, and December 2007. This statistics is a very good example of how even straight forward data can be confusing. The explanation for these price increases are several unusually large sales in January 2008.
Average January 2008 - $1,443,167
Average January 2007 - $782,315
Average December 2007- $761,214
Median January 2008 - $935,500
Median January 2007 -$ 660,000
Median December 2007 – $735,000
Median (excluding condos) Township 2007 – $850,000
Median (excluding condos) Borough 2007 – $752,000
*Information is based on the Trend MLS data as of 2/13/2008 and is not guaranteed.
To learn more about the condition of the local Princeton area and national real estate market, please read
Princeton real estate -local or global
Princeton real estate statistics -2007 summary
If you want to stay current on the greater Princeton local real estate and places, people and events, please subcribe using a feed reader or 
through the e-mail on the right side of the page.
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.
Copyright 2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.
Greater Princeton NJ area real estate 2007-year end market statistics
This is the summary of the 2007 year end statistics for Princeton NJ, Hopewell NJ, Montgomery Township NJ, Pennington NJ, and West Windsor. Throughout the year Princeton Real Estate blog examines the important real estate statistics for each town to help current and future buyers and sellers better understand what is going on in the local real estate market.
I pulled together all of my 2007-year end market statistics articles for reference to make it easier to find them. Time flies and I am already working on the January 2008 report, so this bit of “housekeeping” of my 2007 statistical posts needed to be done and out of the way.
The 2007-year end Princeton area real estate market statistics show the results for the year, and compare them to previous years, starting from 2004.
Prices of Houses Sold
Review of the average price of the houses sold in each of the years from 2004 to 2007 for Princeton, Hopewell, West Windsor and Montgomery township It also shows the average price percent increase or decrease for the same period.
Housing Inventory and Accumulation
Review of the Days on the Market the rate of monthly sales and the inventory accumulation at the beginning of 2008 for the above towns.
Examines the trend for the period of 2004 – 2007 in the days on the market, or how long it took houses to sell in Princeton NJ, Hopewell NJ,Pennington NJ, West Windsor NJ, and Montgomery township. .
Princeton – Number Of Houses Sold By Price Category
Shows what a homebuyer can expect in terms of the housing prices in Princeton, by presenting this data for various price categories.
Princeton Real Estate Market Statistics
Summary post with the links to the previous market statistics articles.
Relocating to Princeton
Summary post with links to articles about housing prices, schools, and living in Princeton
The other articles that may be of interest are:
How To Sell the House in Any Market - Summary post with the links to the most popular articles on the topic.
How To Buy the House in This Market – summary of articles on the topic.
If you want to be current on the greater Princeton local real estate and places, people and events, you can subcribe using a feed reader or through the e-mail on the right side of the page.
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.
Copyright 2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.
Princeton NJ - Places to eat - The best pizza in Princeton NJ
Giving advice about good pizza place is not easy. There are probably as many opinions about what constitutes good pizza, as there are pizza eaters, which is a lot. What qualifies me to render such opinion? Quite honestly, my credentials as a pizza critic are limited: 1. I like pizza; 2. In my twenty years in the area, I probably ate pizza at most local shops; 3. I lived in Italy and remember the taste of the “real” stuff.
My choice, at the moment, for the best pizza in Princeton is Alfonso’s Pizzeria & Restaurant located at 1225 State Road, Princeton, NJ.
The pizza is great and there is a choice of regular Italian dishes as well. They serve bread (even with pizza), and it is hot and crusty and better than in many pricey restaurants.
In addition to good food, you are always made to feel welcome. Earlier this year, for some unexplainable reason, we had a reduction in our pizza consumption and did not go to Alfonso’s for a while. We went back after several months and to my surprise, they remembered us, our usual order and that my son likes additional ricotta cheese on his part of the pie. There aren’t that many places like this left anymore.
The picture below (left) is of one of the owners after a long day. It may be a bit of an unconventional pose, but at Alfonso’s there is no need to stand on ceremony.
Alfonso’s Pizzeria & Restaurant is open daily from 10am to 10pm.
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Princeton NJ real estate expert, bringing 25 years of marketing know-how to make my clients' selling and buying a positive experience.
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