Weichert Princeton Market Update with Inventory and Absorption Rates
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A snapshot of the Princeton, NJ real estate market.
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Weichert Princeton Market Update with Inventory and Absorption Rates
- 2. Princeton Boro Inventory Trend
- 3. Princeton Twp. Inventory Trend
- 4. Sample Market Absorption Rate 107 current active listings 4 reported sales in last 30 days = 24.3 months absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
- 5. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
- 6. Market Scale for Supply & Demand High Supply/Low Demand Low Supply/High Demand Normal 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. Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal
- 7. 4/24/10 Towns Active Listings Pending 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 Princeton Boro: All Styles 54 1 54 24 23 8 15% 1 0 6 Pton -Boro Condo/ Thouses 20 1 20 12 11 3 15% 1 0 0 Pton-Boro Single Family 34 0 99 12 12 5 15% 0 0 6 Pton Twp: All Styles 131 13 10 47 34 29 22% 1 4 7 Pton Twp: Condo/ Thouses 14 6 2.3 5 (1) 2 14% 0 1 6 Pton Twp: Single Family 117 7 16.7 42 35 27 23% 1 3 1
- 8. Pton Boro. Absorption rate by Price 4/24/10 Price Active Listings Pending in Last 30 Days Absorption Rate in Months 0-400 7 0 99 400-600 15 0 99 600-850 7 1 7 850-999 2 0 99 1.0 – 1.3 million 3 0 99 1.3 – 1.7 million 2 0 99 1.7 + 18 0 99
- 9. Pton Twp. Absorption rate by Price 4/24/10 Price Active Listings Pending in Last 30 Days Absorption Rate in Months 0-400 4 3 1.3 400-600 14 4 3.25 600-800 24 1 24 800-999 19 2 9.5 1.0-1.3 million 9 0 99 1.3-1.5 million 23 0 99 1.5 – 2.5 million 27 2 13.5 2.5 million + 13 1 13
- 10. Pton Twp. Thru March: 2009 v 2010 2009 2010 Units Listed 85 91 Listed Volume $101 million $106 million Listed Average $1.197 million $1.174 million Pended 23 27 Units Sold 19 18 Sold Volume $19.3 million $13.0 million Sold Average $1.0 million $722,694 Average Days on Market 109 108
- 11. Pton Boro thru March: 2009 v 2010 2009 2010 Units Listed 31 30 Listed Volume $32.3 million $35.954 million Listed Average $1.042 million $1.198 million Pended 9 12 Units Sold 9 13 Sold Volume $8.34 million $9.77 million Sold Average $926,833 $752,138 Average Days on Market 75 123
Notes de l'éditeur
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
- Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.