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West Windsor/Princeton Junction real estate stats for July 2008. GREAT NEWS!

By
Real Estate Agent with RE/MAX Greater Princeton

 

Looks like the month of July, 2008 shows a sustained recovery for the Princeton Junction real estate market. As you can see from the table below, the average sale price is up over the previous 2 months, the average days on the market is steady with the previous month and bettern than 2 months ago, and the number of months to sell off the current inventory at this pace is a remarkably low 4 months! That's way lower than the state average of 10.5 months!

 This is exciting news for the Princeton area and proves that West Windsor continues to lead the real estate recovery in New Jersey!

Monthly Statistics for the Date Range Selected

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

Aug 2008

1

1,250,000

1,250,000

1

7

4,753,399

679,057

36

July 2008

42

23,225,175

552,980

29

47

28,459,000

605,510

56

June 2008

42

23,048,862

548,782

39

34

18,560,183

545,887

57

May 2008

58

35,509,592

612,234

41

34

18,608,500

547,308

78

 

 

 

 

 

 

 

 

 

Totals:

143

83,033,629

580,654

110

122

70,381,082

576,894

62

 

 

 

 

 

 

 

 

 

 

Inventory Accumulation for the Last 12 Full Months

 

 

 

 

 

Current Inventory *

Inventory Volume

Current Average

Average Monthly Sales**

Inventory Accumulation ***

127

78,940,347

621,577

26

4

*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