Plainsboro, NJ Recent Sales Statistics -- some good news.

By
Real Estate Agent with RE/MAX Greater Princeton

Here's what I'm thinking: the following sales statistics for the town my office is located in (Plainsboro, NJ) look very encouraging. You can see that the 'months of inventory' show that at the current rate, we have only 5 months worth of home inventory. That is about as good as you can expect in all but the most overheated markets. Average days on the market are also very reasonable and actually show a more favorable trend this month over last month. And just look at the number of pending sales this month (19) versus the number of units listed (25). That is great news for the market here in general.

However, many buyers are still reading the newspapers and listening to the TV news and think that we are in the same boat as whoever the newsmen are talking about. Yes, prices are generally lower than in the past few years, interest rates are favorable and we may very well have hit bottom (probably late last year?) So, I've said it before and I really believe that buyers who buy this year in Central Jersey will look back in a few years and say "wow, we were the lucky ones. We really timed it right."

Monthly Statistics for the Date Range Selected

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

June 2008

25

13,972,088

558,883

19

11

4,138,690

376,244

51

May 2008

41

16,995,951

414,535

24

16

4,979,435

311,214

146

Apr 2008

35

17,170,564

490,587

20

21

10,413,200

495,866

78

 

 

 

 

 

 

 

 

 

Totals:

101

48,138,603

476,619

63

48

19,531,325

406,902

94

  

  

  

  

  

  

  

  

  

 

Inventory Accumulation for the Last 12 Full Months

  

  

  

  

  

Current Inventory *

Inventory Volume

Current Average

Average Monthly Sales**

Inventory Accumulation ***

115

50,881,236

442,445

20

5

*Current Inventory is based on the actual available properties on the date this report was created.

**Average Monthly Sales is the average sales for the last 12 full months

***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales Inventory Accumulation figures are only calculated when Report End Month is the current month 

   © Copyright 2008 TREND MLS - Information Deemed Reliable but Not Guaranteed. Printed 6/20/2008 4:07:28 PM

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New Jersey Middlesex County Plainsboro
Tags:
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Rainmaker
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
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Hi James - welcome to AR.  Congrats on starting your blog..... you have plenty to say if you have been doing this for 23 years!  Yikes - you could tell some great horror stories... let's hear the best and worst.

Aloha and see you around.

Jun 20, 2008 12:17 PM #1
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Rainer
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