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East Windsor Market Update January 2014

East Windsor Home Sale Prices
East Windsor Home Sale Prices

HOME PRICES IN EAST WINDSOR  

Home prices in East Windsor NJ continue to rise which have set expectations for a robust Spring 2014 real estate market.  We have seen a consistent increase since 2012 for East Windsor NJ home prices and don’t expect things to slow down anytime soon. Despite the rise of mortgage interest rates, there’s a pent up demand for housing.  If you are considering buying a home you can still find values in East Windsor.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market with multiple offers. The median number of Days on Market is 136. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the East Windsor property on which you are making an offer.

EAST WINDSOR MARKET INVENTORY TRENDS

East Windsor is now considered a “sellers market” with just a 6 month supply of homes.  Compare this with 24 months supply in 2011 and you can really see the changes.   The number of active listings in East Windsor (08520) dropped by 10.2% from the previous month.  However, that is attributed to the seasonality.

THE STATE OF NEW JERSEY

The law of supply and demand are clearly at play now. New Jersey is experiencing the lowest level since 2005 of homes being offered for sale which results in limited choices for home buyers. To top it off, home purchase demand is up 23% making it 26 consecutive months increases.  New Jersey saw a 5.5% increase in prices during 2013.

FIND OUT WHAT YOUR NEIGHBOR'S HOME SOLD FOR

Here’s your chance to find out what a specific home sold for in East Windsor this past year. You might want to know what your neighbor’s home sold for a perhaps a specific one in a neighborhood you’ve been eyeing.  This will be a big help in keeping you up to date about and informed about East Windsor NJ home prices. Simply go to http://www.princetonareahomefinder.com/mimarket/zip/08520/ .

INSTANTLY FIND OUT WHAT YOUR HOME COULD SELL FOR

If you want to get a quick ballpark value of your home, go to www.PrincetonAreaHouseValues.com.

Please contact me for any real estate matters. Jody Siano| 609-529-8107| Keller Williams Realty

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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