February 26, 2010
National Numbers May Not Reflect Local Situation

Single-Family Homes and Condos

Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January 2010 from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.

Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 percent higher than January 2009.

Regional Performance

Existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January 2010 but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.

Posted by: Bruce

January 14, 2010
Updated Neighborhood Sales Information

Sales data for the last two years has just been incorporated into the data supplied for each of West Windsor Township's neighborhoods. The number of sales in Princeton Junction have remained fairly constant. Sales prices are down only slightly.

Posted by: Bruce

December 07, 2009
December 2009 Market Conditions

West Windsor currently has 105 homes for sale. Through today, there have been 287 homes sold so far this year. At this rate of home sales, it would take 4 months to exhaust the supply, making this a slight seller's market. The average sales price has been $515,688 for homes were asking an average price of $555,502.

Information from TREND MLS - Information Deemed Reliable but Not Guaranteed.

Posted by: Bruce

November 07, 2009
First-Time Homebuyer Tax Credit Extended and Expanded

It’s now official, Congress has extended and expanded the existing $8,000 homebuyers tax credit and the President signed it into law on Friday, Nov. 6th.

The new law extends the existing tax credit for West Windsor area buyers who have not owned a home that was their principal residence in the past three years and adds some new criteria and qualifying homebuyers.

The $8,000 credit was scheduled to lapse on December 1st, 2009 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30, 2010 and close by June 30, 2010.

The income limits have been raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.

The bill also made more Princeton Junction, NJ homeowners eligible to claim the credit on their taxes. First-time buyers — those who have not owned a home in the past three years — still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.

Posted by: Bruce

October 31, 2009
Links to Community Organizations

The West Windsor Municipal Website has a page with links to various types of organizations that serve our community. There are entries for sports, community, media, utilities, schools, government, transportation, parks and recreation. Check it out!

Posted by: Bruce

October 24, 2009
Watershed Association Stream Clean-up Logo Contest

The Stony Brook-Millstone Watershed Association, central New Jersey’s first environmental group, is looking for creative artists with a love of the environment for its 2010 Watershed-wide Stream Clean-up Logo Contest. The winning logo will be printed on the front of stream clean-up T-shirts and used in clean-up promotional material prior to the event in the spring of 2010. Second and third place winners will have their logos featured on the Watershed Association’s Web site: www.thewatershed.org.

The Stony Brook-Millstone Watershed Association, a not-for-profit organization, protects the 265-square-mile region drained by the Stony Brook and Millstone River – an area spanning 26 towns and five counties. Founded in 1949, the Watershed Association is central New Jersey’s first environmental group protecting clean water and the environment through conservation, advocacy, science and education.

Posted by: Bruce

October 02, 2009
Home Sales in September 2009 for West Windsor

West Windsor Township monthly sales statistics derived from our local Multiple Listing Service known as TReND, show that 21 homes sold in Princeton Junction this last month. With an average number of homes sold per month over the last year at 21 and with 112 homes currently on the market, it will take about 5 months for all the residential real estate inventory to sell.

These twenty-one homes sold for an average price of $480,000. The average sale price for the past year has been $522,933 for a home in the township of West Windsor.

Posted by: Bruce

September 28, 2009
Parking Garage at Princeton Junction Train Station

According to Kristine Shodgrass of the Packet Publications: "NJ Transit has notified the township Parking Authority it intends to move forward as soon as early next year with the construction of a parking garage at the Princeton Junction Train Station.

"A targeted timeline has been discussed that would see the issuance of a request for proposal for a garage in January, according to Parking Authority Chairman Andy Lupo.

"Commuters have long bemoaned the lack of available parking at the station. Waiting lists for a space in one of the Parking Authority’s parking lots are thousands of names long.

"Plans for a garage were held up for years as a result of stop and go progress by the township on the redevelopment plan for 350 acres around the train station, which was approved earlier this year."

Posted by: Bruce

August 07, 2009
July Market Conditions
The average number of monthly sales in Princeton Junction has been 23 homes over the past year. Last month we had 41 sales at an average sales price of $538,929 aboout at the yearly average of $536,682. There are currently 124 properties available in the township making this a seller's market with 5 months of inventory accumulation.

Posted by: Bruce

June 26, 2009
State of the West Windsor Real Estate Market
We are almost half way through the year and checking out the real estate market in West Windsor (Princeton Junction) reveals that houses are selling. We are averaging 23 homes sold per month, and we have only 5 months of inventory unsold. Real estate is selling for about 94% of list price which is averaging $583,442.

Posted by: Bruce