10. Town by Town Analysis 7/127/09 Towns Active Listings Pending Sales in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5
11. 4. Absorption Rate The Effect of ‘Absorption Rate’ on the Housing Market Weichert has been studying market conditions for more than 3 decades and has found a direct correlation between market absorption and property values. As absorption rates increase beyond a normal market level of 5-6 months, property values depreciate annually.
12. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
13. Town by Town Analysis 7/127/09 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5
14. Princeton Borough Absorption Rate By Price Active Listings Pending in Last 30 Days Absorption Rate in Months 0-$500 8 1 8 $500-750k 8 3 2.6 $750-999 7 2 3.5 $999-$1.5 million 11 0 99 $1.5 million + 13 1 13
19. Town by Town Analysis 7/127/09 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Princeton Boro: All Styles 46 6 7.7 6 0 13 28% 3 2 5 Pton -Boro Condo/ Thouses 13 1 13 2 1 5 38% 0 1 0 Pton-Boro Single Family 33 5 6.6 4 (1) 8 24% 3 1 5