January 05, 2012
Pennington Borough Home Sales Statistics for 2010-2011
The final selling prices of homes and numbers of homes sold in the various sections of the borough of Pennington for the last two years have been updated in the Neighborhoods section of this website. The numbers and averages for the entire borough for the year 2011 can be found at this page concerning statistics for all of Pennington. Yes, Virginia, all real estate is local.
Posted by: Bruce
November 17, 2011
Housing Market Update
There is currently an 8 month inventory of homes for sale in Pennington borough. There are 26 homes available but at a rate of only three selling per month, it will take that long for the current listings to sell. The current average list price is $390,693 with the average sale price in the last year at $513,219. It has been taking on average 105 days for the homes that have sold to find a buyer. These statistics make it a buyers market in Pennington.
TREND MLS - Information Deemed Reliable but Not Guaranteed.
Posted by: Bruce
October 22, 2011
Weidel Spooktacular
A little blatant advertising coming up. Weidels Hopewell Valley office is hosting a Spooktacular on Friday, October 28th from 4:00 pm til 7:00 pm. There will be Food, Face Painting, Music, Prizes, and other treats. Being held for our customers and for the community at large, we invite you to bring your little ghouls and goblins for pumpkin painting. The event is held at our office in Pennington located across Route 31 from the Pennington Market. The rain date for the affair is on Saturday, October 29th, same time - same place.
Posted by: Bruce
July 13, 2011
Halfway Update on the Real Estate Market
Well, we are halfway through this year. How are things stacking up against last year?
In Pennington borough, we have had 30 sales in the past 12 months compared to 36 in the preceding twelve months. The average sale price has gone up from $451,233 to $474,293 and it is taking 97 days for the average sale to get a contract compared to 110 days in the previous 12 month span.
This makes it a tremendous buyers market with 60 homes available and interest rates at historically low levels. Check out the homes on the market.
Posted by: Bruce
January 26, 2011
Encouraging Signs For The Housing Market
The number of Pennington Borough homes sold in 2010 increased from 2009, from 23 homes to 31 residences sold respectively. The average sold price in 2009 was $463,271 and was up to $472,504 this last year. The average days on the market did also decrease from 151 to 115 year over year. With the numbers of sales up along withsold prices and marketing time down, this gives encouraging signs for the Pennington Borough housing market.
Posted by: Bruce
October 14, 2010
Help Is Just A Click Away
While helping you to relocate to Pennington, New Jersey is the focus of this website, if you are thinking of leaving the borough of Pennington (why would you??), we can help you with that also. From assisting you in the sale of your current home, to help in obtaining information on homes in other locales around the globe, it is just as easy as clicking on the Contact Us button on the lower left of this screen.
Posted by: Bruce
July 23, 2010
Home Sales in Pennington for the last 12 Months
With the first half of the year behind us, here is a look at how the real estate market is faring in Pennington, New Jersey. There have been 36 homes sold in the past 12 months for an average sale price of $451,233. The average asking price was $490,327 and the homes spent an average of 110 days on the market.
The previous twelve months (July 2008 to June 2009) saw a per-house average sale price of $450,088 for the 21 homes that sold. The average asking price was $504,909 and it took on the average 122 days for them to sell.
Just a quick glance will tell you that the number of homes sold increased and the time on the market also increased from year to year, and that the average sold price increased only slightly. While all this may be statistically true, it may also relate to the types of homes being sold.
Information from the TReND MLS is deemed reliable but is not guaranteed.
Posted by: Bruce
June 10, 2010
How Do You Get Started Selling Real Estate?
Perhaps you are wondering: How you get a license? How do you join a company? What does it cost? and How do you make money?
For insights into the answers, visit Careers In Central New Jersey Real Estate. You will find information on Schooling, Licensing, and Careers Choices.
Posted by: Bruce
March 28, 2010
Search Homes for Sale on a Map of Pennington
If you know which Pennington neighborhood you want to live in, it is possible using the added functionality of the Use An Atlas Search Page to focus in on a specific area in Pennington Borough and discover the homes that are for sale there.
Posted by: Bruce
February 26, 2010
Regional Data Appears More Optimistic than National Data
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
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