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The above chart represents the sale price trend in West Windsor, East Windsor, Hightstown, Plainsboro, Cranbury and Robbinsville over the past number of years. If you bought a home prior to 2005, you probably have built some equity in your investment.
Just added a comment on all of the township websites concerning the latest month’s activity in the local real estate marketplaces. Most townships showed an increase in activity and sales prices compared to the past twelve months averages. Most localities also have about 9 months worth of inventory, keeping the market in a buyer’s market status. West Windsor has only 5 months, Plainsboro 6 months. Hightstown on the other hand has 35 months supply of homes for the average sales cycle. Just click on the link on the right side of this page to access your community of interest.
I have been working to develop a more thorough overview of the neighborhood as a means of reconnecting with a development we have had a lot of success in marketing over the years. With the help of former across the street neighbors, I was able to get my hands on a copy of the builder’s original brochure for the homes. I have posted it on Issuu.com and then linked to it at our new page about Hickory Acres. There are also links to homes that are currently for sale and also to a page concerning homes that sold in the last year. Thanks to some help from SnagIt 9 this process didn’t really take all that long. This should now give me a reason to “snail mail” the current owners…
It is that time of year again. Stay tuned for the updates on what the real estate market did in Central New Jersey. We will be updating all the neighborhood information on the websites in the right hand column within the next couple of weeks. Expect the number of sales to go down about 20% and the prices to remain fairly constant from last years revisions.
Even though many are saying that New Jersey is losing people to the southern states, the Census Bureau has reported its estimate of July 1, 2007 statistics. All but three counties in New Jersey gained people rather than losing count. Most of the townships covered by this blog also gained. See links at right for individual numbers….
We have completed the data entry for the Mercer county township sites, now it is on to the sites for Plainsboro and Cranbury. The only one that took a lot of time was the Robbinsville NJ Homes for Sale site as many of the agents don’t specify neighborhoods in the Foxmoor area, just list them as being in Foxmoor. After those two townships are complete, we will have to take pictures of the various neighborhoods in Princeton, Pennington, Hopewell and Ewing for the neighborhoods pages, in addition to trying to figure out who the builders of those developments were…
And don’t forget that the Packers are in that championship game tomorrow evening…
The common saying is that if you have a listing, it will attract buyers of similar properties. Well, it does work….
Our Ravens Crest condominium has been attracting interest after the latest price reduction, but not for it, for others in the development. We now have three active buyers looking, with one of them having an offer in attorney review. This all seemed to happen about the time the news media starting saying it was a “buyer’s market”.
We have been busy visiting with potential sellers for the “spring market.” Folks are seeming to want to move in June through August this coming year. If they all decide we are the marketing duo they want to use, it portends to be a very good year…
This morning the quarterly newsletter from Seniors Real Estate Specialists arrived in the inbox.
Included was an article about the ten moves one can make to lessen the pain of taxes. I have included it as information on the New Jersey Active Adult Communities website.
Also someone visited our Plainsboro site, found the picture of the condo, clicked on it, went to the Weidel page we have, and clicked to request an appointment…these things do work.
We have a new property to market in Hamilton, because the sellers found us through the Hamilton NJ Homes for Sale site.
We have finally closed on the condominium in West Windsor, after much gnashing of teeth about repair issues and having two sellers in different locations, one of whom was an estate. It was nice to hear from the sellers’ attorney that he appreciated our efforts to the point where he said that if it had not been us as the seller’s agents, that the deal probably would not have been consumated.
The single family home in West Windsor is still getting limited showings as are most listings in our area. It seems that the less expensive homes are getting more traffice.
Our listing in East Windsor is going to hang in there for a few more, maybe taking it off the market and waiting for the spring market. No rush as they haven’t found anything to their liking in Pennsylvania closer to their daughter.
The condominium in Plainsboro is also still available. We do have another condominium coming to the market in East Windsor. Going to see it next Thursday, reports have it that we will be in for a cleaning process first.
Check out the various township websites to see how the news is being blogged into them. I do hope that the spiders think it to be of value…
I have been wondering, while listening to the media go on and on about the slump in the housing market, about whether what they are seeing is simply a matter of percentages of single family homes sales versus condominiums or townhouses. So I ran some statistics for Cranbury, East Windsor, West Windsor, Robbinsville, Plainsboro and Hightstown.
In August, September, and October of 2005, there were 519 properties sold, with 249 of them being condo/townhomes and 270 being single family homes at an average price of $419,434. The same time frame in 2006, produced 424 sales. There were 233 single family homes and 191 townhouse or condominiums units. The average sale price was $427,436.
This means there were 47.9% condos/townhomes in 2005 and 45% in 2006, less by percentage and it shoots down my theory. But the average sale price has increased year over year by about 2% and at least in our market place, the prices have not plummeted as the news media is telling us.