Median Prices for Houses Sold in West Windsor NJ, Princeton Township, Princeton Borough, Hopewell Township, Hopewell Borough, Pennington, and Montgomery Township in 2004-20007.

The media and the press over the past year have been providing the gloom and doom information about the real estate. Some acknowledge that real estate is local, yet still aggregate it to the national level, which to buyers and sellers in West Windsor has little relevance. What is important for the home buyers and sellers in West Windsor is to understand that real estate is hyper local. In West Windsor for the period 2004-2007 median price of houses (excluding condos) increased  3%.  Unfortunately, it also showed the largest decline in 2007. Hyper local market means that it could be different in the neighboring towns; that's why I provide statistics for the other towns, so you can have a basis for comparison. 

Granted, looking at local numbers, charts and graphs may not be very exciting, but it allows putting aside the national housing gloom and doom and looking objectively at the local real estate conditions. For the home-buyers considering whether they should wait for further price declines or for the home sellers, questioning if they should wait until the market improves, looking at statistics is important. It is also important for people moving to the area and considering which town would best meet their needs.

While no one has the crystal ball to predict the future of the real estate market, the statistics give us a better sense what the local real estate market is. Keep these numbers in mind when making your real estate decisions.

In my last post I covered the average prices and how they changed from the 2004 to 2007.  This post is about the median prices and how they changed during the same period.  The median is a better reflection of the prices then the average in towns like  where there is a big spread between the least expensive  and the most expensive house sold in 2007.

The good news for the period of 2004 to 2007 is that all the towns had increase in the median price:

• Princeton Township, Princeton Borough, and Hopewell Borough -27%
• Hopewell Township:          18%
• Pennington:                         6%
• West Windsor:                     3%
• Montgomery Township:    8%.

Following the biggest increases in 2005, and across the board declines in 2006, 2007 was a mixed bag for different towns of the greater Princeton area. While Princeton and Hopewell showed median price increases, Pennington, West Windsor, and Montgomery Township showed declines:

• Princeton Township:          10%
• Princeton Borough:            7%
• Hopewell Borough:             7%
• Hopewell Township:         -11%
• Pennington:                        -6%
• West Windsor:                   -19%
• Montgomery Township:  -6%

You may find more information about the West Windsor real estate market in the following articles:

• West Windsor NJ Real Estate - Average Prices of Houses Sold

• West Windsor NJ Real estate -How Long to Sell?

Trend MLS data considered accurate, but is not guaranteed. The prices are for houses and does not include condos.

Please contact Faina Sechzer at 609-553-4175 with questions about real estate, homes for sale and/or listing your house to sell, and relocation assistance in Princeton, Montgomery Township, West Windsor, Hopewell, and Lawrenceville New Jersey. Referrals are accepted.
If you are moving out of the greater Princeton area, please inquire about the countrywide relocation program.

Copyright   2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.