Hopewell New Jersey Real Estate Update - Five Years 2004-2008

Princeton Real Estate has released its Hopewell NJ real estate report, examining 2008 and the previous five years. If you are considering selling your home this year, or are wondering if this is a good opportunity to buy, this report is for you.

Hopewell Real Estate Market - Key Points       

• The average price of house sold in 2008 in Hopewell Township and Hopewell Borough (combined) was $518,579 and has decreased 9% compared to 2007.

• The highest average price in the last five years was in 2005, and has declined 9% since that time.

• The numbers of houses sold in 2008 has declined 17% compared to 2007 and 38% compared to the high of 2005.

• Average price has declined 2% cumulatively since 2004.

• Days on the market (93 in 2008) has declined 10% compared to 2007. It may indicates that sellers of the homes that sell price them more realistically then the year before and therefore selling them faster. The present number is 37% higher then in 2004.

Whether you are considering buying or selling Hopewell real estate, it is important to consider how the market here compares to the surrounding communities.

Here are few comparisons.

Montgomery Township real estate homes for sale sold

• Average home price in 2008 declined 7% compared to 2007;
• Average home price declined 9% compared to the high of 2005.
• Average house price has increased cumulatively 5% since 2004.
• Number of houses sold in 2008 has decreased 16% since 2007.

Pennington Real Estate  homes for sale sold

• Average price in 2008 has increased 14% compared to 2007.
  
• Average price in 2008 has declined 9% compared to the high of 2005.
  
• Average price has increased 10% cumulatively since 2004.
  
• Number of homes sold in 2008 has decreased 23% compared to 2007.

Princeton real estate homes for sale sold

• Average price in 2008 increased 10% compared to 2007
  
• Average price increased every year since 2004. The cumulative increase is 15%.
  
• The number of houses sold in 2008 has declined 22%
  
• Days on the market increased 4% compared to 2007.

Interested in learning what your Hopewell house is worth in today’s market?  Call us at 609-553-4175 for a confidential assessment or submit your information at What is my home worth?

Want to look for your Hopewell home? Click on the link below.

Hopewell Homes For Sale