A weekly update of Real Estate Market Activity in the Princeton, NJ area. Questions, email me @ jwilton@weichertrealtors.net

2. Listings from the MLS in Weichert Market Areas In our local area (CT/NY/NJ. Lehigh Valley, PA), the number of homes for sale (Weichert and non-Weichert listings) has steadily increased over the past four years. Increase % 2008 from 2007 NY/CT (Ashby) +.09% Passaic/Hudson/Bergen NJ (Bixon) -2.54% Western Central NJ/Lehigh Valley PA (McDonald) -3.12% Northern and Central NJ (Prevete) -1.10% Eastern Central/Shore Points NJ (Waters) -3.85% Southern NJ (Williams) +.78%

3. 2007 thru 2009 Market Activity Comparison: Week of 2/23 07 Inven. Count 07 Pending Sales (prev. 30 days) 07 Absorp. Rate (months) 07 Active w/ Contr. (prev. 30 days) 08 Inven. Count 08 Pending Sales (prev. 30 days) 08 Absorp. Rate (months) 08 Active w/ Contr. (prev. 30 days) 09 Inven. Count 09 Pending Sales (prev. 30 days) 09 Absorp. Rate (months) 09 Active w/ Contr. (prev. 30 days) Pton. Boro 38 5 7.6 7 49 2 24.5 3 42 1 42 3 Pton Twp 106 5 14.4 16 113 11 10.2 13 102 2 51 6 W. Windsor 143 23 6.2 13 124 16 6.2 16 123 10 12.3 19 Lawrence 193 19 11.8 17 184 19 9.6 15 157 16 9.8 23 East Windsor 172 26 6.6 19 183 21 8.7 4 181 3 60 14 Ewing 193 7 11.8 19 229 18 12.7 14 192 12 16 22 Hamilton 447 22 20.3 60 541 60 9.0 33 101 28 3.6 10 Hopewell Twp. 165 15 11 9 132 13 10.1 16 114 13 8.7 6 Cranbury 17 2 8.5 1 34 0 99 1 27 0 99 0 Plainsboro 130 8 16.2 8 97 14 6.92 10 73 8 9.1 0 South Brunswick 197 27 7.3 22 172 17 10.7 16 206 13 16 10 Montgom. 139 11 12.6 ----- 116 14 8.3 ----- 104 10 10.4 ----- Cum. 1940 170 11.4 191 1974 204 9.6 141 1422 116 12.2 113

4. 2007 - 2009 Core Market Comparison: Week of 2/23 067 Inven. Count 07 Pending Sales (prev. 30 days) 07 Absorp. Rate 07 Active w/ Contr. (prev. 30 days) 08 Inven. Count 08 Pending Sales (prev. 30 days) 08 Absorp.Rate (months) 08 Active w/ Contr. (prev. 30 days) 09 Inven. Count 09 Pending Sales (prev. 30 days) 09 Absorp. Rate (months) 09 Active w/ Contr. (prev. 30 days) Pton Boro 38 5 7.6 7 49 2 24.5 3 42 1 42 3 Pton. Twp. 106 5 14.4 16 113 11 10.2 13 102 2 51 6 W. Windsor 143 23 6.2 8 97 14 6.9 10 73 8 9.1 0 Plainsboro 130 8 16.2 8 97 14 6.9 10 73 8 9.1 0 Montgom 139 11 12.6 ----- 116 14 8.3 ----- 104 10 10.4 ----- Lawrence 193 19 11.8 17 184 19 9.6 15 157 16 9.8 23 Hopewell Twp. 165 15 11 9 132 13 10.1 16 114 13 8.7 6 Cum. 775 86 9.01 70 815 89 9.1 73 715 60 11.9 57

5. Town by Town Analysis 2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Princeton Boro: All Styles 42 1 42 3 5 1 6 14% 1 0 Pton -Boro Condo/ Thouses 12 1 12 2 0 (3) 2 17% 1 0 Pton-Boro Single Family 30 0 99 1 5 4 4 14% 0 0 Pton Twp: All Styles 102 2 51 6 29 21 16 16% 8 3 Pton Twp: Condo/ Thouses 20 1 20 1 4 2 1 5% 3 0 Pton Twp: Single Family 82 1 82 5 24 18 15 18% 5 3

6. Town by Town Analysis 2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings West Windsor: All Styles 123 10 12.3 19 52 23 30 24% 7 5 West Windsor Condo/ T.Houses 26 2 12 4 12 7 4 15% 2 1 West Windsor 55+ 10 2 5 - - - - - - - West Windsor Single Family 87 6 14.6 15 39 18 26 29% 5 4 Lawrence: All Styles 157 16 9.8 23 39 0 44 28% 13 7 Lawrence: Condo/ THouses 68 8 8.5 14 20 (2) 21 30% 10 3 Lawrence: 55+ 10 0 99 - - - - - - - Lawrence: Single Family 79 8 9.9 9 19 2 23 29.1 3 4

7. Town by Town Analysis 2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Ewing: All Styles 192 12 16 22 41 7 41 21% 34 9 Ewing : Condo/ T.Houses 37 2 18.5 4 9 3 8 22% 6 1 Ewing: 55+ 4 1 4 - - - - - - - Ewing: Single Family 151 9 16.7 18 32 5 33 22% 28 8 East Windsor: All Styles 181 3 60 14 52 35 39 22% 17 14 East Windsor: Condo/ THouses 88 2 44 7 23 14 17 19% 9 4 East Windsor: 55+ 11 0 99 - - - - - - - East Windsor: Single Family 82 1 82 7 29 21 22 27% 8 10

8. Town by Town Analysis2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Hopewell Twp.: All Styles 114 13 8.7 6 31 12 20 17% Hopewell Twp. : Condo/ T.Houses 15 3 5 0 8 5 3 20% Hopewell Twp.: 55+ 3 1 3 - - - - - - - Hopewell : Single Family 96 9 10.6 6 23 8 17 17% Hamilton: All Styles 528 86 6.1 24 143 33 123 23% Hamilton: Condo/ THouses 81 23 3.5 6 38 9 29 35% Hamilton 55+ 40 2 20 - - - - - - - Hamilton: Single Family 407 61 6.6 18 105 26 94 23%

9. Town by Town Analysis 2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Rbnville.: All Styles 101 28 3.6 10 25 (13) 24 24% 5 4 Rbnville. : Condo/ T.Houses 44 14 3.1 6 13 (7) 10 23% 2 1 Rbnville.: 55+ 0 0 0 - - - - - - - Rbinville.: Single Family 57 14 4 4 12 (6) 14 25% 3 3 HightstownBoro: All Styles 40 7 5.7 2 8 (1) 14 35% 8 2 Pennington Boro: All Styles 16 4 4 1 4 (1) 3 19% 1 3 Hopewell Boro: 15 2 7.5 0 3 1 3 20% 3 0

10. Market Activity: Town by Town Analysis 2/9/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings PlainsboroAll Styles 73 8 9.12 0 24 24 7 10% 12 5 Plainsboro Condo/ THouses 40 8 5 0 11 3 3 7.5% 3 5 Plainsboro 55+ 8 0 99 0 1 - - - - - Plainsboro Single Family 25 0 99 3 12 12 4 16% 1 0 Cranbury: All Styles 27 0 99 0 6 6 5 6% 5 0 Cranbury: 55+ 4 1 4 0 0 0 1 25% 1 0 Cranbury: Single Family 23 0 99 0 6 6 4 17% 4 0

11. Market Activity: Town by Town Analysis 1/19/08 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months Active w/ Contract in 30 Days New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings South Brunswick All Styles 206 13 16 10 49 26 79 38% 27 7 South BrunswickCondo/ T.Houses 62 7 8.8 5 19 7 26 41% 11 6 South Brunswick 55+ 22 0 99 0 1 1 3 13% 1 0 South Brunswick Single Family 122 5 24 5 29 19 50 41% 15 1 Monroe: All Styles 433 19 23 15 79 45 76 17% 41 1 Monroe: 55+ 297 14 21 10 53 29 51 18% 21 0 Monroe: Single Family 140 5 29 5 26 16 25 18% 20 1

12. Mercer County Residential Settled December 2008

13. Princeton Boro. Active YTD Listings v Pending Analysis

14. Princeton Twp. Active YTD Listings v Pending Analysis

15. West Windsor Active YTD Listings v Pending Analysis

16. Lawrence Active YTD Listings v Pending Analysis

17. Cranbury Active YTD Listings v Pending Analysis

18. Plainsboro Active YTD Listings v Pending Analysis

19. Ewing Active YTD Listings v Pending Analysis

20. East Windsor Active YTD Listings v Pending Analysis

21. Montgomery Twp. Active YTD Listings v Pending Analysis

22. Hopewell Twp. Active YTD Listings v Pending Analysis

23. Hamilton Active YTD Listings v Pending Analysis

24. Myth: If I reduce my price, buyers will wait for another reductions. Reality: There is a direct relationship between price improvements and contracts.

25. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’

26. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’

27. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’