Princeton real estate - How long does it take to sell the house in this market? Does the mortgage crisis affect Princeton as much as other areas of the country? in terms of time it takes to sell, are there differences between the Princeton Borough and Princeton township markets?

One way to look at the market is to consider how long does it take to sell a house. The most interesting part of this analysis is that only a relatively small percentage of houses takes longer then 6 months to sell, and that a quarter of houses sold in less then a month and that there isn’t much difference between this year and last.    

In the Princeton Boro:
19% of houses sold in less then 30 days
59% of houses sold between 0-90 days
59% of houses sold between 31-180 days
22% of houses sold in over 180 days

In the Princeton Township the numbers are similar:
27% - sold in less then 30 days
65% -sold between 0-90 days
60% - sold between 31-180 days
13% - sold in over 180 days

Combined for the Princeton Boro and Township the time to sell the house in 2007 was not much different then in 2006.

 DOM            2007*                               2006**
< 30 days       25%                                  31%
0-90 days       64%                                  65%
31-180 days    59%                                  58%
180+ days      16%                                  11%
 

 *period covered  1/2007 -11/2007; ** period covered 1/2006- 11/2006

Data is based on the Trend MLS and is deemed reliable, but is not guaranteed.

Look for more details on How long it takes to sell a house in Princeton.

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