Montgomery Township NJ Real Estate Market Report - June & Six Months 2008

This report could provide insight into the state of the Montgomery Township real estate and could be useful for home buyers relocating to Montgomery Township, or looking for Princeton area homes for sale and want to understand the differences between various surrounding towns, or if you are considering selling your Montgomery home.

I. Montgomery Real Estate Summary 

The slowing of the real estate market in Montgomery township is similar to Princeton in that there are fewer house being listed, going under contract, and being sold compare to the similar period of 2007. There were 39% less houses listed in June 2008 and 22% less in the first half year of 2008, compared to 2007. The Montgomery home sellers, similar to Princeton home sellers are reluctant to put their houses on the market. Most of the market activity now is attributed to the home buyers and sellers relocating to the area, because of job transfers or other family personal situations, requiring their move. There is also a category of Montgomery real estate buyers and sellers who are using this weekend market to upscale. There number of Montgomery homes sold declined 22% in June and 33% in the 1st six months compared to 2007. the factors contributing to these declines is the uncertainty of the home buyers, tightening credit market, increasing interest rates and other troubles with the economy.

II. Montgomery Township Real Estate - June 2008

Montgomery Houses - Active June 2008
Number - 159
Median Price - $640,000
Average Price -$ 741,170

Montgomery Condos -Active June 2008
Number - 13
Median Price -  $399,900
Average Price - $377,290

Montgomery Houses - Sold  June 2008               
Number of Houses Sold - 24               
Value sold - $14,967,800                           
Median House Price  - $614,000 
Average House Price - $623,660     
Average House Sold/ Original Price - 95%

Montgomery Condos - Sold June 2008

Number Condos Sold -    5
Value sold -               $1,236,500
Median Condo Price -   $334,000         
Average Condo Price - $327,000           
Average Condo Sold Price/Original Price - 95%

Montgomery Houses & Condos June 2008 vs. June 2007

Category                       June 2008        June 2007
Number Listed                  22                   36
Number Pended                 33                   42
Number Sold                    29                    37
Average Price Sold         $572,562           $772,921
Average DOM                   57                   66


Montgomery Houses Under Contract (Pending) June 2008
Number of Houses pending -33
Volume Houses Sold -       $23,527,880
Median House Price -        $685,000
Average House Price-       $712,970

Montgomery Condos Under Contract (Pending) -June 2008

Number Condos Sold - 6
Value Condos sold -    $2,232,700
Median Condo Price     $349,900
Average Condo Price    $372,120

III. Montgomery Township Real Estate First Half 2008

Montgomery Houses Sold 01/2008-06/2008
Number Houses sold - 70
Median House Price -  $585,000
Average House Price - $661,980
Average Sold Price /Original Price - 93%

Montgomery Condos Sold 01/2008-06/2008
Number Condos Sold -       17
Median Condo Price Sold - $350,000
Average Condo Price Sold -$356,410
Average Sold Price /Original Price - 93%

Montgomery Township  Houses & Condos 01/2008-06/2008 vs. 01/2007- 06/2007

Category                     Six Months 2008                    Six Months 2007
Number Listed                 229                                     290
Number Pended                126                                    165
Number Sold                    87                                     118
Average Price Sold           $602,267                          $665,803
Average DOM                  81                                      73

Statistics based on Trend MLS 07/18/2008 and not guaranteed.

Resources for selling and buying Princeton real estate:

How To Buy And Sell Your Princeton Home Like A Pro

Why Some Princeton Houses Sell Quickly

How To Find A Real Estate Bargain|Princeton Real Estate

Do You Want To Be A Successful Princeton Home Seller?

Princeton Real Estate - Buyers Market and Multiple Offers

Please call 609-553-4175 for services in Princeton, Montgomery Township, West Windsor, Plainsboro, Princeton Junction, Hopewell, Pennington, and Lawrenceville New Jersey.New Jersey Real estate, New Jersey homes for sale and/or listing New Jersey homes to sell, relocation services and assistance. Referrals are accepted. Countrywide and international relocation program is available.

Faina Sechzer does not guarantee or is in any way responsible for accuracy of the information on this site, and provides said information without warranties of any kind, either expressed or implied. Every consumer is urged to perform their own research and analysis.

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