Average Price Of Houses and Condos Sold in 2004 – 2007

The prices of homes in the West Windsor NJ real estate market is an important issue for the homeowners. It is even more so on the minds of many now, given the economic uncertainties of the effects of the sub prime mortgage fall out and the possible recession. The price of the homes sold is one of the indicators of the real estate market.

West Windsor for the period of 2004 - 2007 had a 14% increase in the average sale price. The largest increase occurred in 2005, followed by a smaller increase in 2006, when other towns had already started showing price declines. The 2007 average house prices in West Windsor have declined 4%.

In comparison, Princeton average price has increased 3% in 2007; Hopewell showed an increase for the 2007 of 4%, Montgomery Township –decline of 3%, and Pennington – decline of 15 %.    

The charts below lllustrate the differences in the trend for the other areas in the greater Princeton real estate market.

The concerns about the economy and the general perception of the public that real estate prices will be going down is keeping many buyers from entering the market. On the other hand, there are still buyers that need to buy because of their circumstances and houses priced competitively will continue to sell.
 

* Data is based on the Trend MLS and is not guaranteed.