Update and data on the Princeton and Greater Princeton Real Estate Market.

1. • Princeton Real Estate Market
Update
• Prepared exclusively for the
Weichert Princeton Office every
week.
• Additional data available at
www.slideshare.net
• Prepared by:
Josh Wilton
jwilton@weichertrealtors.net

2. • Jim Weichert called the bottom of the market today, 6/30/09,
specifically in the affordable price ranges.
• The market continues to improve with absorption rates lower,
inventory lower and contracts higher in practically every
municipality in Mercer County.
• Princeton Township has higher inventory than last year and is
one of the few towns that we need to watch for continued
oversupply, specifically in the $1,000,000+ market.
• Princeton Boro has heated up though not in the higher price
ranges and will continue to stay desirable.
• Overall good momentum in the markets though everyone
continues to hold their breath as the broader economy struggles
to improve.
• As we approach the fall months you will watch the reports
come in that housing is beating last year in every category.
• There will be pockets nationally that will continue to drag the
broader RE indexes lower though we are in for recovery.

3. 2007 thru 2009 Market Activity Comparison: Week of 6/30/09
07 07 07 07 08 08 08 08 09 09 09 09
Inven. Pending Absorp. Active w/ Inven. Pending Absorp. Active w/ Inven. Pending Absorp. Active w/
Count Sales Rate Contr. Count Sales Rate Contr. Count Sales Rate Contr.
(prev. 30 (months) (prev. (prev. 30 (months) (prev. (prev. 30 (months) (prev. 30
days) days) 30 days) days) days)
30 days)
Pton. Boro
70 3 23.2 - 48 5 9.6 - 48 11 4.3 -
Pton Twp
137 15 9.1 - 117 15 7.8 - 151 21 7.19 -
W.
Windsor 167 26 6.4 - 144 32 4.5 - 123 45 2.7 -
Lawrence
230 36 6.3 - 207 22 9.4 - 182 38 4.7 -
East
Windsor 229 23 9.9 - 216 16 13.5 - 202 31 6.5 -
Ewing
280 26 10.7 - 249 21 11.8 - 230 31 7.4 -
Hamilton
561 57 9.8 - 629 48 13.1 - 591 112 5 -
Hopewell
Twp. 208 21 9.9 - 161 19 8.4 - 174 21 8 -
Cranbury
40 1 40 - 33 3 11 - 91 16 5.6 -
Plainsboro
132 15 8.8 - 117 25 4.687 - 91 16 5.6 -
South
Brunswick 250 27 9.2 - 209 19 11 - 227 88 3 -
Montgom.
178 31 5.7 - 156 25 6.2 - 160 35 4.5 -
Cum. 2482 281 8.8 - 2286 250 9.1 - 2203 451 4.88 -

4. 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Princeton Boro:
All Styles 48 11 4.3 7 (4) 8 16% 5 1 10
Pton -Boro
Condo/ Thouses 12 2 6 3 1 2 16% 1 1 1
Pton-Boro
Single Family 36 9 4 4 (5) 6 16% 4 0 9
Pton Twp: All
Styles 151 21 7.19 36 15 25 17% 5 9 14
Pton Twp:
Condo/ Thouses 23 3 7.6 4 1 4 17% 0 1 5
Pton Twp:
Single Family 128 18 7.1 32 14 21 16% 5 8 9

5. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in Gain Reduced Invent. Listings Listings Listings
30 Days Months 30 Days (Loss) to in 30 Days Reduced
Market
West
Windsor:
123 45 2.7 30 (15) 47 38 6 5 36
All Styles
West
Windsor
23 15 1.5 9 (6) 11 47 0 2 12
Condo/
T.Houses
West
Windsor
6 0 99 - - - - - -
55+
West
Windsor
94 30 3.1 21 (9) 36 38 6 3 24
Single
Family
Lawrence:
All Styles
182 38 4.7 38 0 59 32 17 2 20
Lawrence:
Condo/
85 17 5 24 7 24 28 6 2 14
THouses
Lawrence:
55+
12 0 99 - - - - - - -
Lawrence:
Single
85 21 4 14 (7) 35 41 11 0 6

6. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Days Reduced
Ewing:
All Styles
230 31 7.4 61 30 60 26 22 5 23
Ewing :
Condo/
44 9 4.8 9 0 15 34 2 2 5
T.Houses
Ewing:
55+
1 0 99 0 0 0 0 0 0 0
Ewing:
Single
185 22 8.4 52 30 45 24 20 3 18
Family
East
Windsor:
202 31 6.5 50 19 49 24 19 5 30
All Styles
East
Windsor:
104 17 6.1 34 17 21 20 8 3 18
Condo/
THouses
East
Windsor:
19 0 99 0 0 0 0 0 0 0
55+
East
Windsor:
81 14 5.7 16 2 28 34 11 2 12
Single
Family

7. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Hopewell Twp.
All Styles 174 21 8 28 7 49 28% 15 5 12
Hopewell Twp.
Condo/ T.Houses 24 7 3 10 3 7 29% 2 2 2
Hopewell Twp.:
55+ 4 0 99 - - - - - - -
Hopewell Twp:
Single Family 146 14 10 18 4 42 29% 13 3 10
Hamilton: All
Styles 591 112 5 136 24 153 26% 31 25 55
Hamilton:
Condo/ THouses 101 28 4 34 6 35 35% 11 5 10
Hamilton:
Single Family 449 79 6 102 23 118 26% 20 20 45
Hamilton: 55+
41 5 8 - - - - - - -
-

8. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
=
Robbinsville
All Styles 119 19 6 29 10 27 23% 10 3 16
Robbinsville
Condo/ 57 10 5.7 19 9 16 28% 4 3 8
T.Houses
Robbinsville
55+ - - - - - - - - - -
Single
62 9 7 10 1 11 18% 6 0 8
Hightstown
Boro: All Styles 55 6 9 14 8 13 24% 2 2 2
Pennington
Boro: 29 1 29 8 7 6 23% 0 1 1
All Styles
Hopewell Boro:
All Styles 14 4 3.5 1 (3) 3 21% 0 0 3

9. Market Activity: Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in Gain Reduced Invent. Listings Listings Listings
30 Days Months 30 Days (Loss) in 30 Reduced
to Days
Market
Plainsboro
All Styles
91 16 5.6 34 18 20 21% 11 0 29
Plainsboro
Condo/
54 3 18 24 21 13 24% 4 0 17
THouses
Plainsboro
55+
10 2 5 2 0 4 4% 0 0 0
Plainsboro
Single
27 11 2,4 8 (4) 3 11% 7 0 12
Family
Cranbury:
All Styles
24 2 12 4 2 3 8% 0 0 1
Cranbury:
55+
4 1 4 0 (1) 0 0 0 0 0
Cranbury:
Single
20 1 20 4 3 3 15% 0 0 1
Family

10. Market Activity: Town by Town Analysis 6/24/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/draw Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings n Listings
30 Days Months 30 Days Market in 30 Reduced Listings
Days
South
Brunswick 227 88 3 51 (37) 79 34% 16 16 29
All Styles
South
BrunswickCon 71 29 7 19 (20) 15 21% 5 9 12
do/ T.Houses
South
Brunswick 34 5 7 3 (2) 2 5% 0 0 0
55+
South
Brunswick 122 54 2 29 (25) 16 13% 11 7 17
Single Family
Monroe:
All Styles 509 89 6 96 7 144 28% 27 12 3
Monroe:
55+ 345 46 7 45 (1) 113 33% 16 4 2
Monroe:
Single Family 164 43 4 31 8 31 18% 11 8 1

11. Town by Town Analysis 6/30/09
Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed
Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings
30 Days Months 30 Days Market in 30 Reduced
Days
Montgom.
160 35 4.5 47 12 38 24% 9 9 22
Hillsboro
260 40 6.5 83 43 57 22% 14 10 36
Rocky Hill
413 1 13 0 (1) 1 7.6% 0 0 1
Franklin

12. Princeton Boro. Active YTD Listings v Pending Analysis
80
70
60 Princeton Boro Active
Listings
50
Princeton Boro Pendings
40
30 Princeton Boro Price
20 Reductions
10
0

13. Princeton Twp. Active YTD Listings v Pending Analysis
180
160
140
120 Twp. Actives
100
Twp. Pendings
80
Twp. Reductions
60
40
20
0

14. West Windsor Active YTD Listings v Pending Analysis
250
200
West Windsor Actives
150
West Windsor Pendings
100
West Windsor Reductions
50
0

15. Lawrence Active YTD Listings v Pending Analysis
300
250
200 Lawrence Actives
150 Lawrence Pendings
Lawrence Reductions
100
50
0

16. Cranbury Active YTD Listings v Pending Analysis
45
40
35
30 Cranbury Actives
25
Cranbury Pendings
20
Cranbury Reductions
15
10
5
0

17. Plainsboro Active YTD Listings v Pending Analysis
180
160
140
120 Plainsboro Actives
100
Plainsboro Pendings
80
Plainsboro Reductions
60
40
20
0

18. Ewing Active YTD Listings v Pending Analysis
350
300
250
Ewing Actives
200
Ewing Pendings
150
Ewing Reductions
100
50
0

19. East Windsor Active YTD Listings v Pending Analysis
250
200
East Windsor Actives
150
East Windsor Pendings
100
East Windsor Reductions
50
0

20. Montgomery Twp. Active YTD Listings v Pending
Analysis
250
200
150 Montgomery Actives
Montgomery Pendings
100 Montgomery Reductions
50
0

21. Hopewell Twp. Active YTD Listings v Pending Analysis
250
200
Hopewell Twp. Actives
150
Hopewell Twp. Pendings
100
Hopewell Twp. Reductions
50
0

22. Hamilton Active YTD Listings v Pending Analysis
700
600
500
Hamilton Actives
400
Hamilton Pendings
300
Hamilton Reductions
200
100
0

23. Market Scale for Supply & Demand
High Supply/Low Demand Low Supply/High Demand
Normal
1
Market Absorption in Months
2 Weichert has been
studying market
3
conditions for more than
4 3 decades and has found a
direct correlation between
5
Normal
market absorption and
6 property values.
7 As absorption rates
increase beyond a normal
8 market level of 5-6
9 months, property values
depreciate annually.
10
11
12